Bourbon Sets Course for Massive Expansion

Tuesday, February 28, 2006
Bourbon plans to invest more than $1.7 billion in new vessel construction through 2010, according to the company’s CEO Jacques de Chateauvieux, who held a conference call from his Paris office this morning.

The company, which has been on a major newbuild spending spree in its transformation to a maritime powerhouse, at the end of 2006 will own a fleet of 264 vessels, including 192 in its Offshore division, 66 tugs in its Towage and Salvage division, and six bulk carriers in its bulk division. The company is particularly bullish on prospects for the offshore business, as nearly $1.46 billion of its investment through 2010 will focus on the offshore market.

In assessing the near and long-term future of the offshore business, de Chateauvieux said the company sees “strong and continued demand” for oil, as declines in production output from existing offshore wells will pressure the oil majors to step up efforts to find new reserves. The company projects that the world’s production of oil will increasingly come from offshore sources, rising from 34 percent today to 39 percent by 2010, and increasingly that share will come from deepwater developments, based largely on the fact that 65 percent of new discoveries are coming from deepwater searches.

In addition to vessels, the company plans to increase its number of employees by 80 percent, and is embarked on an international quest to recruit and retain top marine industry talent from Europe and the Americas, as well as increasingly from Africa and Asia.

– By Greg Trauthwein

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

LNG

ABS to Class the World's First CNG Ship

ABS announced it has been chosen to class the world's first compressed natural gas (CNG) carrier ordered by Pelayaran Bahtera Adhiguna, a subsidiary of Indonesia's

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

LNG to Acquire Bear Head LNG Project in Canada for US$11 mi

Liquefied Natural Gas Limited today announced that it has significantly expanded its presence in the North American Liquefied NaturalGas (LNG) sector by signing

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0995 sec (10 req/sec)