EXHIBIT 23.1

                         Consent of Independent Auditors

We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-57255) pertaining to the Friede Goldman International, Inc. 401(k)
Retirement Plan of our report dated July 10, 2002, with respect to the financial
statements of the Friede Goldman International, Inc. 401(k) Retirement Plan
included in this Annual Report (Form 11-K) for the year ended December 31, 2001.

                                                           /s/ Ernst & Young LLP

New Orleans, Louisiana
July 10, 2002