SBM Offshore has signed a contract with Shanghai Waigaoqiao Shipbuilding Co., Ltd. and China Shipbuilding Trading Co., Ltd. for the construction of its seventh generic Fast4Ward Multi-Purpose Floater hull, extending a shipbuilding partnership that now spans seven FPSO hull projects with the Chinese yard.

The agreement was announced on June 29, 2026, in Amsterdam and Shanghai, with both SWS and CSTC named as subsidiaries of China State Shipbuilding Corporation Limited. The signing brings the total number of MPF hulls ordered by SBM Offshore to 13 across its broader hull program.

Hull Specifications and Design Continuity

The MPF7 will be built to SBM Offshore's Fast4Ward proprietary generic standard hull design, a configuration the company developed specifically for Floating Production Storage and Offloading vessels.

The hull is designed with a storage capacity of up to 2.3 million barrels of crude oil and is engineered to be adaptable for a wide range of sea conditions. The new hull will carry forward the design of its predecessor, including accommodation capacity for up to 240 personnel.

According to the company, the floater's design adheres to international offshore standards and incorporates tailored optimizations in environmental protection, safety, and crew comfort.

The Fast4Ward program is built around a standardized generic hull concept intended to be configurable for different client projects and operating environments.

By maintaining a consistent base design across multiple hulls, SBM Offshore says the approach allows the company to reduce execution risk and achieve incremental improvements in quality and productivity with each successive vessel.

Strategic Rationale and Market Signals

SBM Offshore chief executive Øivind Tangen framed the contract signing as a reflection of current market conditions and the company's broader competitive strategy.

Tangen said the award reflects a robust market outlook and demonstrates how SBM leverages standardization and strategic partnerships for strong competitive positioning.

Tangen also highlighted the cumulative knowledge built into the program, noting that 13 MPF hulls have now been ordered in total, with each project providing lessons to further de-risk execution while improving quality and productivity.

The comment underscores SBM Offshore's framing of the Fast4Ward model as a continuously refined system rather than a static design.

The ordering of a seventh hull at SWS specifically, in a program that has now reached 13 hulls overall, points to the depth of the relationship between SBM Offshore and the Chinese shipbuilder. The MPF7 will be the seventh hull constructed at SWS under the partnership, representing a substantial portion of the overall program volume.

SWS Commitment and Partnership History

Chen Gang, Chairman of SWS, described the signing as the beginning of a new chapter in the shipyard's ongoing relationship with SBM Offshore. He said the agreement reflects an enduring strategic partnership built on deep mutual trust and that the SWS team is fully committed to leveraging the yard's shipbuilding capabilities and lean management principles to deliver the vessel.

Chen said the goal is to deliver MPF7 with the highest quality, safety, and environmental standards, continuing to create long-term value for both organizations.

The comments from SWS leadership reinforce the characterization of the arrangement as a long-term industrial partnership rather than a transactional procurement relationship.

SWS and CSTC, both subsidiaries of China State Shipbuilding Corporation Limited, are listed as parties to the contract alongside SBM Offshore.

CSSC is one of the largest shipbuilding conglomerates in the world, and the involvement of its trading and shipbuilding subsidiaries reflects the scale of the procurement and commercial arrangements underpinning the Fast4Ward program.

SBM Offshore's Broader Business Context

SBM Offshore describes itself as a global leader in deepwater ocean infrastructure, with operations spanning the full asset lifecycle from design and construction through to installation and operation.

The company employs more than 8,000 professionals globally and operates what it characterizes as a long-term, asset-backed business model intended to deliver high-availability assets and predictable cash flows.

The Fast4Ward program sits at the center of SBM Offshore's FPSO construction strategy, with the standardized MPF hull serving as the foundation for client-specific topside configurations.

The model is designed to compress construction schedules and reduce cost uncertainty compared with fully bespoke vessel designs. Beyond its FPSO work, SBM Offshore has stated capabilities across floating offshore wind, digital services, offshore technologies, and floating production solutions. The company also lists jettyless single point mooring fluid transfer solutions through its Imodco brand among its offerings.

The MPF7 contract follows other recent activity from SBM Offshore, including a FEED contract with Carbon Collectors for an offshore carbon dioxide transport and injection solution in the Southern North Sea, and a collaboration involving wind-assisted towing evaluation for the GranMorgu FPSO in Suriname.