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

People & Company News

Panama Canal Updates Maersk on Expansion

Within the framework of the centennial celebration, the Panama Canal Administrator Jorge L. Quijano received a Maersk Line delegation led by Søren Skou, CEO of Maersk Liner Business,

Refiners Seek Jones Act Workarounds as Crude Export Debate Heats Up

As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that

Maritime Security West Conference Underway in Tacoma

On water and in the air, maritime security involves local, state and federal stakeholders The 2014 Maritime Security West conference is underway in Tacoma, Washington.

Offshore

Pipeline Corrosion Shutters Statoil's Troll C Platform

Norway's Statoil shut oil and gas production at its Troll C platform in the North Sea after inspections found corrosion damage on a pipeline, the company said in

Vestas Profit Beats Forecast

Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling

Maersk Drilling Rig Team Train Local Talent

Maersk Drilling says that its 'Mærsk Deliverer' rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent

Finance

Refiners Seek Jones Act Workarounds as Crude Export Debate Heats Up

As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that

Lukoil Shipped Canadian Crude from Houston

Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta,

Vestas Profit Beats Forecast

Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling

Energy

Refiners Seek Jones Act Workarounds as Crude Export Debate Heats Up

As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that

Russia Sanctions Could Slow Norwegian Arctic Exploration

Western sanctions against Russia may slow down exploration for oil and gas on both the Norwegian and Russian side of the Arctic Barents Sea, lobby group Norwegian Oil & Gas told Reuters on Wednesday.

Pipeline Corrosion Shutters Statoil's Troll C Platform

Norway's Statoil shut oil and gas production at its Troll C platform in the North Sea after inspections found corrosion damage on a pipeline, the company said in

Vessels

First Two Mooring Boats Launched for Port of Ras Laffan

Nakilat has celebrated the delivery of two 16-meter mooring boats built by shipbuilder Nakilat Damen Shipyards Qatar for towage operator Nakilat Svitzer Wijsmuller.

Doosan Delivers a ‘World’s First’ to NASSCO

Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA.

MV Cape Ray Signals DTRA 'Mission Complete'

The Defense Threat Reduction Agency announces the successful completion of the Cape Ray's mission to destroy Syria's chemical weapons components at sea. The Defense Threat Reduction Agency/U.

 
 
Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1618 sec (6 req/sec)