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Groupe Bourbon pursues its major development program in the field of marine services for deep-water oilfields. 10 new vessels delivered and 250 million euros invested in 6 months Within the scope of the business plan for 2003-2007, which schedules overall investments of 1.2 billion euros for shipbuilding, Groupe Bourbon's Offshore Division put ten new vessels into service during the first semester of 2004. Nine were for work on deep-water oilfields. These ships comprised :
Building up Groupe Bourbon's presence in the so-called "Golden Triangle", six of these vessels were sent to work off the west coast of Africa, three to the Americas and the other to European waters. With these new additions, the group now has a fleet of 36 vessels specifically assigned to deep-water oilfield operations. The new arrivals called for overall investments of some 250 million euros but already operate on an average initial contract term of 4 years. As most of these vessels were delivered at the end of the first semester, their impact on the turnover of Groupe Bourbon's Offshore Division will come into full effect in the second half of the year. In parallel, as part of the scheduled fleet reorganization of its subsidiary Bourbon Offshore Norway (formerly Havila Supply), Groupe Bourbon sold off two anchor-handling tugs built in 1983 and 1984. To complete the picture, our Dry Bulk Transport Division has taken advantage of the currently favorable period to modernize its fleet by selling its 42,000-tonne bulker Sunor, built in 1992. A new 53,500-tonne bulk carrier, recently ordered and scheduled for delivery in December 2005, will supply more carrying power and give renewed impetus to Groupe Bourbon's transport fleet. Paris, July 7th 2004 About Groupe Bourbon: Offering services on offshore oilfields, in harbor towage, assistance missions and in bulk transport, Groupe Bourbon ranks as a major international figure in the maritime service field. Through its subsidiary Vindémia, the group also operates in the world of mass retailing. Listed on the "second market" of the Paris stock exchange and classified by Euronext in the "Oil Services" category, Groupe Bourbon employs some 8500 staff-members and registered a turnover of a billion euros in 2003. Image
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