Bourbon announced that its subsidiary Setaf SA has signed a $545m sale agreement for 16 bulk carriers with U.S. group Genco Shipping and Trading Ltd. The closing is expected by end of July 2010. “As a shipowner, we are a pragmatic company, and we seized an opportunity. Following the Group strategy for its Bulk Division, Setaf is actively managing its shipping activity as a freight operator as well as a ship owner, to offer customized services and dedicated advanced ships to its customers” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. “The contemplated sales will contribute significantly to the financing of the new “Bourbon 2015’ Leadership Strategy“.