Paris, April 27th 2006, pdf file
In line with its Horizon 2010 strategic plan, BOURBON is expanding the power of its harbor tug fleet and anticipating international growth by ordering 12 tugs, including a series of 8 vessels from the Piriou shipyards in Concarneau (France) and 4 from the Damen shipyards in China.
With this order for 12 vessels, BOURBON is investing 60 million euros and continues to modernize the Les Abeilles fleet operating in major French and international ports.
This new order brings to 16 the total number of vessels to be delivered to Les Abeilles. The last order of this magnitude for Les Abeilles was placed in 1998 for the construction of 14 tugs.
This development strategy is in line with the BOURBON Horizon 2010 plan, which provides for an investment of 100 million euros in the Towage & Salvage Division by 2010 and foresees annual revenue growth of 4% for this segment.
Satisfied with the technical and operational specifications of the Abeille Barfleur and Croisic, tugs built by the Piriou shipyards and based at Le Havre and Nantes-Saint Nazaire respectively, BOURBON made the choice to order the same type of tugs from the same yards on the basis of custom technical specifications, which were modified to boost the power and add technical improvements. Measuring 30 m long and 10 m wide, the more compact template for this series contributes to better maneuverability enabling greater operational efficiency.
These tugs, equipped with Azimutal Stern Drive propulsion and a new design, offer 15% more bollard pull capacity than earlier models, raising capacity from 57 to 65 tons. This choice is an effective response to the changes in towage operations resulting from an increase in the size and tonnage of the vessels towed. The 8 new tugs will also be equipped with fire-fighting capacity. Deliveries are scheduled between October 2007 and the end of 2008.
The 4 tugs being built by the Chinese subsidiary of the Damen shipyards are designed to contribute to the international expansion of the towage and assistance business.
These are 4 standards vessels, 28 m long and 10 m wide, which have a bollard pull capacity of 58.5 tons and are equipped with Azimutal Stern Drive propulsion and fire-fighting capacity.
This order, which is identical to the order placed with Damen in 2005 for the Tangier-Mediterranean contract, optimizes the benefits of the series effect.
Moreover, by deciding to order a proven product, Les Abeilles ensures that it is expanding its fleet with quality tugs, recognized and appreciated by clients. The 4 tugs will be delivered from November 2007 until July 2008.
Yves Rastoin, Chief Executive Officer of Les Abeilles noted: "Under the BOURBON Horizon 2010 strategic plan, we reaffirmed our goal to expand the towage and salvage business and to improve the standard of our fleet. With these 12 reliable, compact and highly maneuverable vessels, Les Abeilles is meeting the demands of its clients and adapting to the challenge posed by larger LNG tankers and mega-container ships, as well as strengthening its position in international bid tenders."
With an offer of offshore oil and gas marine services, towage, assistance and salvage, and bulk shipping, BOURBON is a major international player in marine services. Classified by Euronext in the "Oil Services" sector, BOURBON is listed on Eurolist Paris, Compartment A and is included in the SBF 120 and Dow Jones Stoxx 600 indices. Since March 28, 2006, the BOURBON share has been included in the Deferred Settlement Service (SRD).
Les Abeilles, a BOURBON subsidiary, is one of the world’s leading operators in towage, assistance and salvage, operating in the largest ports and terminals of France, in the Indian Ocean and the African coasts. Its mission is to guarantee its clients the best marine safety conditions, assist them to fight the risks of their activity, and protect the environment. With a regularly renovated fleet of 66 tugs worldwide, the company is internationally recognized for its expertise and employs over 1100 people.