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

Offshore

N-KOM Lays Keel for Qatar’s First Liftboat

Nakilat-Keppel Offshore & Marine (N-KOM) has achieved another milestone with the keel laying of its first liftboat newbuild project, awarded in July 2014 by long-time

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

LNG

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Skangass Granted Permission for LNG Terminal

The Swedish Government (Länsstyrelsen in Dalarnas Län) has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden.

Policy Uncertainty Threatens to Slow Renewable Energy Momentum

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1078 sec (9 req/sec)