|By PR Newswire||
|January 7, 2014 02:31 AM EST||
PARIS, January 7, 2014 /PRNewswire/ --
- In line with its strategy, BOURBON achieves US$ 770 million of vessel sales in 2013
- BOURBON sells 12 additional vessels to ICBC Financial Leasing for US$ 378 million and concludes a new sale and bareboat charter agreement with Standard Chartered Bank for US$ 150 million
BOURBON announces the transfer of ownership of 12 vessels to the Chinese company ICBC Financial Leasing ("ICBCL") for a total value of approximately US$ 378 million, as part of the sale and bareboat charter agreement for up to 51 vessels signed with ICBCL on April 9, 2013.
With the 9 vessels already transferred in September 2013 as part of the agreement, this brings the total number of vessels transferred to ICBCL to 21 for a total value of approximately US$ 522 million. The transfer of the remaining maximum 30 vessels should take place during the first half of 2014.
At the end of November 2013, BOURBON signed an agreement with Standard Chartered Bank ("SCB") for the sale and bareboat charter of 6 new build vessels for a total amount of approximately US$ 150 million. The ownership of 3 vessels has been transferred for an amount of nearly US$ 65 million at year end. The remaining 3 vessels will be delivered to SCB during the second half of 2014. This agreement provides for a fixed bareboat charter rate of 10.2% per year for 10 years.
In addition to vessel disposals in line with the "Transforming for Beyond" action plan, BOURBON sold older vessels in 2013 for a total value of US$ 183 million, some of which included a bareboat charter agreement.
Through the implementation of its active fleet management program, BOURBON has achieved US$ 770 million of vessel sales in 2013, generating a capital gain of approximately US$ 180 million.
As expected, BOURBON free cash flow will be positive for the second half and full year 2013, and the level of its debt will be reduced.
Active fleet management
Summary of vessel sales in 2013
(US$ million) Transforming for Beyond / Asset smart strategy ICBCL - 21 vessels (11 AHTS Shallow, 6 PSV Shallow, 2 PSV Deep, 2 MPSV) 522 Standard Chartered Bank - 3 vessels (3 AHTS Shallow) 65 -------- Total 587 Other vessel sales With bareboat charter (5 to 10 years old) - 2 vessels (2 AHTS) 130 Straight sale (10 to 20 years old) - 5 vessels (2 AHTS Deep, 1 PSV Deep, 1 MPSV, 1 Tug) 53 -------- Total 183 Total vessel sales in 2013 770
As a leader in offshore marine services, BOURBON offers the most demanding oil & gas companies a comprehensive range of surface and subsea marine services for offshore oil & gas fields and wind farms. This offer is based on an extensive range of latest-generation vessels and the expertise of more than 10,000 competent professionals.
The Group provides local service through its 27 operating subsidiaries, close to clients and their operations, and it guarantees the highest standards of service quality and safety worldwide. BOURBON has two Activities, Marine Services (Offshore installation supply, towage, anchor handling and positioning, personnel transport…) and Subsea Services (Subsea inspection, maintenance and repair, offshore operations engineering, supervision and management …) and also protects the French coastline for the French Navy.
BOURBON's fleet strategy is unique among international offshore service companies: operating a large fleet of vessels built in series, innovative and highly productive.
In 2012, BOURBON posted revenues of €1.187 billion and as of September 30, 2013, it operated a fleet of 479 vessels.
Announced in March 2013, the latest action plan "Transforming for beyond" in its financial aspect consists of selling up to 30% of the supply vessels' fleet, up to US$2.5 billion, and retaining the vessels on bareboat charter for a period of 10 years. Through "Transforming for beyond", BOURBON wants to enlarge the scope of achievable strategies beyond 2015 and be ready to deliver growth and value creation further.
Classified by ICB (Industry Classification Benchmark) in the "Oil Services" sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is included in the Deferred Settlement Service SRD, in the SBF 120 and CAC Mid 60 index.
PR Agency : Publicis Consultants
Investors - Analysts - Shareholders Relations
James Fraser, CFA
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focu...
Feb. 28, 2015 03:15 PM EST Reads: 1,181
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Feb. 28, 2015 03:00 PM EST Reads: 2,130
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing...
Feb. 28, 2015 02:00 PM EST Reads: 1,158
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes ...
Feb. 28, 2015 01:45 PM EST Reads: 1,099
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
Feb. 28, 2015 01:15 PM EST Reads: 2,364
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Feb. 28, 2015 01:15 PM EST Reads: 967
SYS-CON Events announced today Arista Networks will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Arista Networks was founded to deliver software-driven cloud networking solutions for large data center and computing environments. Arista’s award-winning 10/40/100GbE switches redefine scalability, robustness, and price-performance, with over 3,000 customers and more than three million cloud networking ports depl...
Feb. 28, 2015 01:00 PM EST Reads: 1,437
Application metrics, logs, and business KPIs are a goldmine. It’s easy to get started with the ELK stack (Elasticsearch, Logstash and Kibana) – you can see lots of people coming up with impressive dashboards, in less than a day, with no previous experience. Going from proof-of-concept to production tends to be a bit more difficult, unfortunately, and it tends to gobble up our attention, time, and money. In his session at DevOps Summit, Otis Gospodnetić, co-author of Lucene in Action and founder...
Feb. 28, 2015 01:00 PM EST Reads: 1,217
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, will explain the best practices of continuous testing at high scale, which is r...
Feb. 28, 2015 01:00 PM EST Reads: 1,051
Software is eating the world. Companies that were not previously in the technology space now find themselves competing with Google and Amazon on speed of innovation. As the innovation cycle accelerates, companies must embrace rapid and constant change to both applications and their infrastructure, and find a way to deliver speed and agility of development without sacrificing reliability or efficiency of operations. In her Day 2 Keynote DevOps Summit, Victoria Livschitz, CEO of Qubell, discussed...
Feb. 28, 2015 12:30 PM EST Reads: 3,801
NaviSite, Inc., a Time Warner Cable company, has opened a new enterprise-class data center located in Santa Clara, California. The new data center will enable NaviSite to meet growing demands for its enterprise-class Cloud and Managed Services from existing and new customers. This facility, which is owned by data center solution provider Digital Realty, will join NaviSite’s fabric of nine existing data centers across the U.S. and U.K., all of which are designed to provide a resilient, secure, hi...
Feb. 28, 2015 12:00 PM EST Reads: 878
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
Feb. 28, 2015 12:00 PM EST Reads: 1,809
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data th...
Feb. 28, 2015 12:00 PM EST Reads: 1,229
Feb. 28, 2015 12:00 PM EST Reads: 2,464
Feb. 28, 2015 12:00 PM EST Reads: 2,278