Bourbon Orders 12 New Harbor Tugs

In line with its Horizon 2010 strategic plan, Bourbon is expanding the power of its harbor tug fleet and anticipating international growth by ordering 12 tugs, including a series of 8 vessels from the Piriou shipyards in Concarneau (France) and 4 from the Damen shipyards in China.

- An investment scheduled in the Horizon 2010 strategic plan With this order for 12 vessels, BOURBON is investing 60 million euros and continues to modernize the Les Abeilles fleet operating in major French and international ports. This new order brings to 16 the total number of vessels to be delivered to Les Abeilles. The last order of this magnitude for Les Abeilles was placed in 1998 for the construction of 14 tugs.

This development strategy is in line with the Bourbon Horizon 2010 plan, which provides for an investment of 100 million euros in the Towage & Salvage Division by 2010 and foresees annual revenue growth of 4% for this segment. - 8 new, more powerful tugs to upgrade the Les Abeilles fleet in the major French ports Satisfied with the technical and operational specifications of the Abeille Barfleur and Croisic, tugs built by the Piriou shipyards and based at Le Havre and Nantes-Saint Nazaire respectively, Bourbon made the choice to order the same type of tugs from the same yards on the basis of custom technical specifications, which were modified to boost the power and add technical improvements. Measuring 30 m long and 10 m wide, the more compact template for this series contributes to better maneuverability enabling greater operational efficiency. These tugs, equipped with Azimutal Stern Drive propulsion and a new design, offer 15% more bollard pull capacity than earlier models, raising capacity from 57 to 65 tons. This choice is an effective response to the changes in towage operations resulting from an increase in the size and tonnage of the vessels towed. The 8 new tugs will also be equipped with fire-fighting capacity. Deliveries are scheduled between October 2007 and the end of 2008. - 4 new tugs to accelerate international growth in towage and assistance The 4 tugs being built by the Chinese subsidiary of the Damen shipyards are designed to contribute to the international expansion of the towage and assistance business. These are 4 standards vessels, 28 m long and 10 m wide, which have a bollard pull capacity of 58.5 tons and are equipped with Azimutal Stern Drive propulsion and fire-fighting capacity. This order, which is identical to the order placed with Damen in 2005 for the Tangier-Mediterranean contract, optimizes the benefits of the series effect. Moreover, by deciding to order a proven product, Les Abeilles ensures that it is expanding its fleet with quality tugs, recognized and appreciated by clients. The 4 tugs will be delivered from November 2007 until July 2008.