ShippingWatch

Bourbon off to a weak 2016 start

The offshore market continues to slump and French carrier Bourbon can feel it in the revenue for the first quarter, which declined and came to EUR 314.5 million. The market will probably hit a low point in 2016 before improving slightly, projects the company.

Photo: Bourbon

The many players in the offshore industry are not seeing any improvement, and this also extends to French carrier Bourbon, who is among the world's largest offshore carriers. In the first quarter, Bourbon reported revenue of EUR 314.5 million against EUR 383.6 million in the same period for 2015, according to the first quarterly report. An 18 percent setback.

In the quarter, fleet utilization decreased to 69.5 percent from 79.1 percent in the first quarter of 2015, while the average daily rate sat at USD 10,324, around USD 2,000 less than last year.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Tankers CEO sees no reason to merge tanker carriers

It has long been discussed, and the chief executive of a competitor points to Maersk Tankers as a driver in the tanker sector's consolidation race. However, Maersk Tankers CEO Christian M. Ingerslev does not see much sense in combining balance sheets, he tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs