Bourbon Reports Q1 2012 Revenue Growth

Press Release
Thursday, May 10, 2012
Bourbon Vessel: Photo credit Bourbon

Bourbon reports benefits of a booming market in the offshore & gas marine services sector in its 2012 first quarter results

"Bourbon is reaping the benefits of a booming market in the offshore oil & gas marine services, encouraged by the stability of the price of Brent (an average of US$ 119 a barrel in the first quarter of 2012). This quarter's business growth of 18% is in line with the Bourbon 2015 Leadership Strategy plan," announced Christian Lefèvre, Chief Executive Officer of Bourbon. "Bourbon continues to enjoy this positive business climate as new vessels are gradually commissioned and existing contracts are renewed."

The company performed well (utilization rate) despite a large number of planned class dockings: 5 in deepwater offshore, 8 in shallow water offshore, and 2 in subsea services.

In marine services, average increase of 10% in daily rates for the new supply vessels commissioned (3 in shallow water offshore) and for renewals of expiring contracts (6 in deepwater offshore and 19 in shallow water offshore).

The growth in demand from clients gradually led to a disappearance of over-capacity, as illustrated by payment for vessel mobilization. This has been the case for 30% of the new contracts for supply and IMR vessels since January 2012.

Compared with the fourth quarter of 2011, Bourbon's revenues rose 1.8%, impacted generally by the following:
Numerous vessel class dockings in the deepwater and shallow water offshore segments of Marine Services as well as Subsea Services
Effect of the winter season in the North Sea in deepwater offshore and the end of the monsoon in Southeast Asia in the shallow water offshore segment.
 

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

People & Company News

Coast Guard Foundation to Honor Longtime Supporter

National Tribute Set for Thursday, October 9, 2014 The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families,

Last Call to Register for SHIPPINGInsight

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American

Aage Hempel to Service and Distribution Simrad Products Aage Hempel Netherlands b.v. signed an agreement with Navico Europe b.v. for service and distribution

Offshore

Hyde Guardian BWTS for Edison Chouest Fleet

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, has been selected as a strategic supply partner for ballast water treatment (BWT) systems

Rosneft, ExxonMobil Continue Drilling for Now

Russia's Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday.

Aberdeen Harbour Installs Siklu Security Network

Aberdeen Harbour has extended its security solutions coverage using high-capacity backhaul from Siklu, the market leader in millimeter wave backhaul informs the Israel-based tech firm.

Finance

Barge Operator Fined for Releasing Dangerous Gas

The operator of a Portsmouth-based barge has today been made to pay almost £111,000 in fines and costs after pleading guilty to a breach of maritime legislation.

Charterers Remain Optimistic Despite Small Downturn

Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to the latest Shipping Confidence Survey from

Insights: New York Canal Director Brian Stratton

Brian U. Stratton was appointed Director of the New York State Canal Corporation in April 2011, to oversee the operation and development of New York’s 524-mile Canal System,

Energy

Last Call to Register for SHIPPINGInsight

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American

Suncor Sends First Tanker of Western Canada Heavy Crude to Europe

Canada's largest oil and gas producer, Suncor Energy Inc, is shipping its first ever tanker of Western Canadian heavy crude from Canada's East Coast to Europe, a company spokeswoman said on Tuesday.

Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib).

Vessels

Steel Cut on First of Three ISVs for KT Maritime

A steel cutting ceremony held last week at the Singapore shipyard of partner company, ASL Shipyard Pte Ltd. marked the start of construction for the first of three

Innovative Thrawls Help Reduce the Enviromental Impact

Fishing Company Cornelis Vrolijk, based in IJmuiden, The Netherlands, and its subsidiary Jaczon, based in Scheveningen, The Netherlands, are specialized in pelagic fishing.

Two More Damen Twin Axe Catamarans for SeaZip

Damen Shipyards and SeaZip Offshore Service signed another contract for two Damen Fast Crew Suppliers (FCS) 2610 at Wind Energy in Hamburg. The two new vessels,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1643 sec (6 req/sec)