Bourbon to Add 144 Offshore Vessels for $2bn

30 June 2010 (Last Updated June 30th, 2010 18:30)

Bourbon will acquire 144 offshore oil vessels between 2011 and 2015 with an investment of $2bn. The French offshore major will add 80 supply vessels and 64 crew boats under its '2015 Leadership Strategy', increasing its total offshore fleet to 600 by 2015. The company will financ

Bourbon will acquire 144 offshore oil vessels between 2011 and 2015 with an investment of $2bn.

The French offshore major will add 80 supply vessels and 64 crew boats under its ‘2015 Leadership Strategy’, increasing its total offshore fleet to 600 by 2015.

The company will finance the programme by selling 16 of its bulk carriers to US group Genco Shipping and Trading for $545m and a 12-year loan of $400m provided by China Exim Bank.

The investment is in addition to the €2bn ($2.7bn) Bourbon has spent since 2008 to modernise its fleet and increase its strength from 288 vessels in 2008 to 450 in 2012.