Bourbon
Bourbon News
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year…
Bourbon Takes Delivery of its 500th Vessel
Bourbon celebrates delivery of the 500th vessel, placing the group at the head of the world's largest fleet of vessels operated (vessels owned or on bareboat charter) for the offshore marine services industry. Bourbon announced the entry into service of its 500th vessel - the Bourbon Evolution 806, the sixth vessel of the first series of vessels for inspection, maintenance and repair (IMR) of subsea infrastructure for the offshore industry.
Jaccar to Launch Bourbon Buyout on May 20
Jaccar Holdings, the main shareholder of Bourbon, said on Monday it will launch an offer to buy the French ship supplier on May 20. Bourbon said in March that the offer…
BOURBON Committee to Examine JACCAR Bid
At its meeting of March 21, 2014, the board of directors of BOURBON noted JACCAR Holding’s proposed bid for shares of BOURBON. It decided to appoint a committee of four independent group directors (Agnès Pannier-Runacher, Guy Dupont, Philippe Sautter and Mahmud Tukur) to examine this project; this committee will solicit proper consultation in undertaking this review. The board will make a decision on the basis of their recommendations when the final terms of the offer are known.
Jaccar Proposes Bid for Bourbon Shares
Bourbon has been informed of a proposed bid for its shares at a price of 24 euros per share, announced March 16, 2014 by its main shareholder, Jaccar Holdings. This…
BOURBON Makes Several Fleet Additions
With the AHTS Bourbon Liberty 320, BOURBON is now running a fleet of 100 Bourbon Liberty series-built, diesel-electric propelled and DP 2 vessels, a first in the oil services industry. This milestone coincides with the delivery of the first two of 20 deep offshore PSVs of the new BOURBON series: the Bourbon Explorer 500. "The Bourbon Liberty's operational success and the launch of the Bourbon Explorer 500 series strengthen our ability to provide a complete range of services worldwide…
Bourbon Revenues Rise in 2013
Revenues up 10.5% vs. full year 2012 to €1.312 billion and up 6.0% vs. fourth quarter 2012 to €331.6 million impacted by U.S. • Foreign currency movements versus the Euro in 2013 (most notably versus the U.S. “2013 revenues of more than €1.3 billion, a complete range of 485 vessels with an average age of 6.2 years and the broad geographical reach of its activities makes Bourbon a leader in the offshore marine services industry,” said Christian Lefèvre, Chief Executive Officer of Bourbon.
Bourbon Achieves $770m USD in Vessel Sales in 2013
In line with its strategy, BOURBON achieves US$ 770 million of vessel sales in 2013. Bourbon has sold 12 additional vessels to ICBC Financial Leasing for US$ 378 million and concluded a new sale and bareboat charter agreement with Standard Chartered Bank for US$ 150 million. They also announced the transfer of ownership of 12 vessels to the Chinese company ICBC Financial Leasing ("ICBCL") for a total value of approximately US$ 378 million…
Bourbon and CGG Partner for Seismic Survey Success
Announced in June 2011, Bourbon and CGG entered a five-year charter agreement for a series of six custom newbuild seismic support vessels. Now more than two years later, the third ship in the series, Bourbon Gannet, is due to enter service in the early part of 2014, following the launch of the first two vessels, Bourbon Petrel and Bourbon Fulmar, in summer and autumn 2013, respectively. The remaining three sister vessels are under construction in Dubai’s Grandweld Shipyard…
Bourbon CEO Christian Lefèvre Continues the Good Work
Bourbon inform that on the recommendation of the Nominating, Compensation and Governance Committee, the Board of Directors has decided to reappoint Christian Lefèvre as Chief Executive Officer from January 1, 2014 for a 3 year period. Christian Lefèvre is also serving as Board Member, and on his proposal the Board of Directors has also decided to reappoint
 Gaël Bodénès and Laurent Renard as Executive Vice-Presidents for the same length of period.
Bourbon and CGG: Partners in Innovation
In 2011, Bourbon entered a five-year charter agreement with CGG for a series of six new seismic support vessels, an industry first. Two years later, the Bourbon Petrel and the Bourbon Fulmar are already in service in the Black Sea and Northern Europe, and a third vessel, the Bourbon Gannet, will also be operational in the near future. The Grandweld Shipyard in Dubai is building the vessels and delivery of the remaining sister ships is scheduled for 2014.
Bourbon Sells Two AHTS in Planned Modernization Program
Bourbon announces the sale of the 'Bourbon Surf' and 'Bourbon Borgstein', two large 10-year old Norwegian built AHTS (Anchor Handling Tug Supply) vessels for a total amount of US$130 million, generating a total capital gain of approximately US$63 million. Bourbon will continue to operate the two ships for a minimum period of 2 years to a maximum period of 5 years, with an annual bareboat charter cost of 13% of the transaction value.
Bourbon Reports 3Q 2013 Revenues
Bourbon released its results for the third quarter 2013 and reported signs of continued improvement in offshore vessel demand. Revenues were up 8.6% compared to third quarter 2012…
Bourbon Sells Three Vessels
Bourbon announces that it sold three vessels, including a tug, an MPSV (Multi-Purpose Supply Vessel) from the Subsea Services fleet and a PSV (Platform Supply Vessel)…
Bourbon Sells First Nine Vessels of “Transforming for Beyond” Plan
Following the transfer of ownership of the first nine vessels to the Chinese company ICBC Financial Leasing (ICBCL) as part of a 51 vessel sale and bareboat commitment and the payment of $144 million…
Bourbon Reduce Debt, Revenue Up in H1 2013
Bourbon reports solid results in a steady market in the first half of year 2013. Revenues were up 14.1% vs. first half 2012 as a result of increasing daily rates overall and a high average utilization rate. "In a steady market, Bourbon continues to deliver revenue growth," says Christian Lefèvre, Chief Executive Officer of Bourbon. "During the first half of 2013, the company maintained satisfactory…
Bourbon Orders MacGregor Subsea Crane
MacGregor, part of Cargotec, has won an order for a 150-ton active heave-compensated (AHC) subsea crane from leading offshore oil and gas marine services specialist, Bourbon. This builds on a contract that was secured at the end of 2007 from the operator for ten similar cranes. This crane will be delivered in August 2014 and is, as per nine of the previous orders, for a Bourbon Evolution 800 multi-purpose support vessel under construction at Zhejiang Shipyard, in China.
BOURBON Reports Continued Growth in Q1 2013
"In a favorable context for the oil & gas and related services industry, BOURBON is continuing to grow," says CEO. Continued growth especially in the Shallow water offshore segment (+31.7%); this is due to the combined effect of the entry into service of 9 vessels in the last 12 months and improved market conditions (utilization rates and average daily rates). Signing of a 3-year contract in Trinidad…
Bourbon Plans Transformation Project
Bourbon is rolling out a transformation plan for its future growth. As part of its “Transforming for Beyond” project, Bourbon has decided to sell vessels worth $2.5…
Bourbon Board to Submit Resolutions at Shareholder Meeting
As of the stock market on June 03, 2013, the Bourbon share will be quoted ex-dividend. The dividend will be paid June 06, 2013. The record date entitling shareholders…
