Despite the release of a positive set of results for the first half, French offshore vessel owner Bourbon says it will maintain its focus on cost control which will see the company continue to stack vessels during the second half of the year.
In the first half of the year, Bourbon said it had stacked 26 supply vessels and 5 subsea vessels, and would continue to lay-up vessels in the fleet which have no anticipated activity for 3 months. The majority of the supply vessels stacked were in the shallow water segment.
Christian Lefèvre, CEO of Bourbon, commented: “While the duration of this downturn is uncertain, Bourbon is constantly adapting to the market and is unwavering in its focus on excellence in service execution and reducing its costs. This focus will not only improve the group’s resilience in the current cycle but will make it even stronger going forward.”
The company posted first half adjusted revenues of €758.8m, up 13.1% on last year’s result.