BOURBON Resumes Fleet Modernization

Within BOURBON’s strategy that aims to focus its fleet on modern and fuel efficient ships, built in series, the company sold two large 10 – year old Norwegian built AHTS (Anchor Handling Tug Supply) vessels, Bourbon Surf and Bourbon Borgstein, for a total amount of $130 million.

The sale generated a total capital gain of approximately US$ 63 million. BOURBON will continue to operate the two ships for a minimum period of 2 years to a maximum period of 5 years, with an annual bareboat charter cost of 13% of the transaction value.

This sale continues BOURBON’s strategy that aims to focus its fleet on modern and fuel efficient ships, built in series, in order to offer its most demanding clients the service quality of a standardized fleet of efficient and reliable vessels.

[mappress]
Press Release, November 15, 2013