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Bourbon sells off major part of its fleet

The French offshore shipping company has held a billion-dollar fleet sale. The plan is to retain the vessels on bareboat charter, reveals a press release.

Photo: Pressefoto

The French offshore shipping company Bourbon, a major player on the African market, has taken the next step in its plan for future growth and sold vessels worth 2.5 billion USD from its fleet, the company has announced in a press release. However, the company will retain vessels on bareboat charter for a period of 10 years.

On Tuesday, Bourbon signed the agreement with China’s ICBC Financial Leasing which involves the sale of 51 supply vessels, of which 24 ships are in operation while 27 ships are newbuildings to be delivered within 14 months. The sale ought to relieve Bourbon’s burden of debt which the company has accumulated through an extensive newbuildings program. However, it will not affect the company’s fleet strategy, CEO Christian Lefevre emphasizes in the release:

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