Bourbon
Bourbon News
Interview: Bourbon CEO Gael Bodénès
Bourbon Corporation CEO Gael Bodénès & his team plot a bold new course for this offshore industry stalwart.Your career with Bourbon has traversed many industry fluctuations. Looking back to when you joined the company, how is Bourbon today most the same, and most different?Bourbon has transformed from a small regional company to a world recognized leader in offshore marine services. It has seen its teams grow from a 3…
BOURBON to Support World's First Autonomous OSV Project
BOURBON entered into a Memorandum of Understanding (MOU) with Automated Ships Ltd to support the building of the world’s first autonomous, fully-automated prototype vessel for offshore operations, in collaboration with the project’s primary technology partner, KONGSBERG. BOURBON will provide detailed input to the development and design of the Hrönn project, ensuring flexibility, reliability and cost efficiency to operate safely and effectively in the offshore environment.
BOURBON to Install Mooring for Floating Wind Turbine
French offshore marine services company BOURBON said it has been awarded a contract for the mooring installation of the first floating wind turbine in France at…
BOURBON Reaches Deal to Reorganize Its Debt
French offshore vessel operator BOURBON said it has signed an agreement with its financial partners providing for the rescheduling of the maturities of a large part of its financial debt. Out of long- and medium-term debt totaling €692 million, €365 million of repayments due between 2016 and 2018 have been rescheduled and reduced to an amount of €63 million not repayable until 2018. The remainder of the debt, i.e.
Bourbon Feels the Pain of Low Oil
The impact of the oil market cycle reaching its bottom was felt in Bourbon in the first half of 2016, as the company announced first half 2016 adjusted revenues of €599.2 million, a 21 percent decline year on year and 11.7 percent reduction compared to 2H 2015. Bourbon believed that its large market share and young fleet were keys to keeping it stronger while others failed, but it appears that the market has caught up to the company too.
BOURBON to Pay Dividend for 2015
The Annual General Meeting of BOURBON shareholders held on May 26, 2016 approved the payment of the dividend for 2015 of €1.00 per share and that each shareholder…
Bourbon Puts Gas Plans on Hold
Bourbon’s plan to diversify into the gas carrier market has run into financial obstacles. The company said in a statement that its board of directors acknowledged that the financing required for the acquisition of Jaccar Holdings’ gas activities would not be obtained within the originally stated timeframe. Consequently, the board has removed the resolution from the agenda of the annual shareholders meeting scheduled for May 26.
BOURBON Invests Heavily in Gas Sector
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in ethane transportation, with a market share greater than 50% in a market expected to have strong growth. - 100% of Greenship Gas Manager Pte. - 80% of JHW Engineering & Contracting limited.
Bourbon Crew Abducted off of Nigeria Freed
Bourbon announced that the two crew members abducted on board the Bourbon Liberty 251 off the coast of Nigeria on February 23, have been released and are in good health.
Bourbon Takes Delivery of AHTS
BOURBON announced that it has taken delivery, as scheduled, of the Bourbon Arctic from Norway's Vard Brattvåg shipyard and completed her first anchor handling operation.
BOURBON Installs Submarine Cable for Sabella D10 Project
BOURBON is participating in a tidal turbine connection project off the island of Ushant (Brittany, France), a first in France. A pioneer in the towing and installation…
Bourbon Says 3 Kidnapped Crew Members Released
French oil services company Bourbon said on Monday that the three Nigerian crew members kidnapped after one of its speedboats was boarded off the Nigerian coast on April 8 had been released.
BOURBON Continues to Sell Vessels
BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co.
High Daily Rates Boost Bourbon Q3 Revenue
Bourbon announced its financial results for the third quarter of 2014, in which its saw revenues increase by 5.7% year on year as fleet growth and higher average daily rates were partially offset by lower utilization rates. Bourbon said average daily rates increased in almost all segments and regions, owing in part to newer, larger vessels having higher day rates and also improved rates on some contract renewals and extensions.
Arctic Oil: Bourbon to Enter Arctic Market in 2016
Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor Handling Tug Supply) was specially designed for operations in polar waters, and more specifically in arctic zones, where we know that there is a huge potential for development, and the new vessel is the signal that the company is adjusting its range of services to meet the requirements of clients and the changing offshore market.
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year…
Bourbon Takes Delivery of its 500th Vessel
Bourbon celebrates delivery of the 500th vessel, placing the group at the head of the world's largest fleet of vessels operated (vessels owned or on bareboat charter) for the offshore marine services industry. Bourbon announced the entry into service of its 500th vessel - the Bourbon Evolution 806, the sixth vessel of the first series of vessels for inspection, maintenance and repair (IMR) of subsea infrastructure for the offshore industry.
Jaccar to Launch Bourbon Buyout on May 20
Jaccar Holdings, the main shareholder of Bourbon, said on Monday it will launch an offer to buy the French ship supplier on May 20. Bourbon said in March that the offer…
BOURBON Committee to Examine JACCAR Bid
At its meeting of March 21, 2014, the board of directors of BOURBON noted JACCAR Holding’s proposed bid for shares of BOURBON. It decided to appoint a committee of four independent group directors (Agnès Pannier-Runacher, Guy Dupont, Philippe Sautter and Mahmud Tukur) to examine this project; this committee will solicit proper consultation in undertaking this review. The board will make a decision on the basis of their recommendations when the final terms of the offer are known.
Jaccar Proposes Bid for Bourbon Shares
Bourbon has been informed of a proposed bid for its shares at a price of 24 euros per share, announced March 16, 2014 by its main shareholder, Jaccar Holdings. This…
