Towage And Salvage Division News

MAN Diesel Spain has been active within the tug segment recently, having played a key role in three orders that contract the company to supply 18 MAN Diesel L27/38 engines to Boluda Corporación Marítima, Spain, the international marine group and shipbuilder. The engines are destined for nine newbuilding tugs; ten engines were already delivered in 2009 with the remainder due in 2010/2011. The three orders encompass two engines for the V.B. Bravo, owned by Boluda Corporación Marítima through its subsidiary AUXMASA…

In February 2006, Bourbon announced the Horizon 2010 plan, a strategy based on an original vision of the market and substantial investments in a modern fleet. In February 2008, Bourbon is announcing its Horizon 2012 strategic plan, which continues and prolongs its outlook. Chairman and Chief Executive Officer Jacques de Chateauvieux explains: "This new strategic plan is an extension of our 2010 horizon to 2012. It again illustrates the ongoing improving approach adopted by BOURBON which, based on continued analysis of changing demand, positions itself as a leader in trends. By anticipating services and resources today, by expanding our offer, we will confirm our position in 2012 and beyond as a leader in modern offshore oil and gas marine services.

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.