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Bourbon Offshore projects large-scale idling in 2016

France's Bourbon Offshore managed to maintain a stable revenue in 2015, but the company anticipates a drastic scale of vessel idling in 2016. Some 50 extra vessels will take up space on berths around the world if the forecast pans out.

Photo: Bourbon

In spite of the fact that Bourbon Offshore, one of the world's largest offshore carriers, managed to keep its revenue on par with 2014 in a challenging market, the offshore sector will hit Bourbon hard in 2016. The carrier thus projects that 20 percent of the total fleet of around 500 offshore vessels will be idled when 2016 comes to a close. This corresponds to around 50 ships more than the 44 Bourbon vessels that were pulled from the market per December 31st 2015.

The bleak forecast is presented in a statement about Bourbon's 2015 revenue published Wednesday ahead of the final annual report which will be released in March. In the statement, CEO Christian Lefèvre also acknowledges that there is not much the offshore companies can do in the time to come, except hang tight.

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