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June 25, 2010

Bourbon unveils $2 billion newbuilding plan

Paris-headquartered Bourbon has unveiled its "2015 Leadership Strategy" - a $2 billion vessel newbuilding program "to renew the old and obsolete continental offshore fleet and meet demand in deepwater."

"With this plan covering 2011 to 2015, Bourbon wants to achieve leadership under the flag of excellence" says Jacques de Chateauvieux, CEO of Bourbon. Under the plan, Bourbon will add 80 supply vessels and 64 crewboats and will be operating a fleet of 600 vessels for deepwater and shallow water logistics services by 2015.

Bourbon says the new plan will be built on the success of its Bourbon Liberty series of vessels, to speed up the renewal of the old and obsolete existing shallow water fleet and on the proven expertise of its deepwater operations for exploration and production, including subsea activities.

Bourbon 2015 Leadership Strategy also calls for increasing efficiency and reducing operating costs. The target for vessel availability rate should reach 95% and running costs index should be reduced by 4% at constant rate by 2015.

Bourbon will not only be adding vessels. It says 5,000 new recruits will be added to the 7,000 people "already working to the highest standards of safety and operations and personally commited to perform under the flag of excellence."

Bourbon presented its new strategic vision at a presentation today in Shanghai. You can see the slideshow HERE

UPDATE

Sinopacific Shipbuilding Group, Shanghai, is reported as announcing it has entered into a framework agreement with Bourbon SA to build 62 vessels, worth around CNY 7 billion or $1 billion.


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