Floating storage and offloading unit
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A Floating Storage and Offloading unit (FSO) is, as its name suggests, a floating storage device, usually for oil.
FSOs are commonly used in oil fields where it is not possible or efficient to lay a pipe-line to the shore. The production platform will transfer the oil to the FSO where it will be stored until a tanker arrives and connects to the FSO to offload it.
Most FSOs are old single hull supertankers that have been converted. An example of this is the Knock Nevis, at one time the world's largest ship, has been converted to a FSO to be used outside Qatar.
A more advanced FSO with some processing capabilities is called FPSO