BOURBON provides update on Asset Smart strategy, including a new sale and bareboat charter agreement
December 29 2014 - 12:04PM
BOURBON announces the completion of the transfer of ownership under
the agreements with ICBC Financial Leasing ("ICBCL")
and Standard Chartered Bank ("SCB") as part of the
sale and bareboat charter agreements signed in 2013.
During 2014, the ownership of 25 vessels was
transferred to ICBCL in accordance with the agreement signed in
April 2013. Combined with the 21 vessels transferred in 2013, this
brings the total number of vessels transferred to ICBCL to 46 for a
total value of approximately US$1,435 million.
BOURBON has also completed the transfer of
vessels to SCB under the agreement signed in November 2013. The
ownership of the remaining 3 vessels have been transferred as
scheduled and combined with the 3 vessels transferred during 2013,
totals 6 vessels for an approximate amount of US$151 million.
At the beginning of December 2014, BOURBON
signed an agreement with
Minsheng Financial Leasing Co. ("MFL") for the
sale and bareboat charter of 8 vessels for a total amount of
approximately US$202 million. The ownership of the first 3 vessels
has been transferred for approximately US$57 million. The
remaining 5 vessels will be transferred to MFL during 2015. This
agreement provides for a bareboat charter rate of 9.68% of the sale
price per year for 10 years.
Transforming for Beyond / Asset Smart strategy |
(US$ million) |
ICBCL |
|
2013
- 21 vessels (17 Shallow, 2 Deep, 2 Subsea) |
522 |
2014
- 25 vessels (14 Shallow, 6 Deep, 5 Subsea) |
913 |
Standard Chartered Bank |
|
2013
- 3 vessels (Shallow) |
65 |
2014
- 3 vessels (Deep) |
86 |
Minsheng Financial Leasing |
|
3 vessels (Shallow) |
57 |
Total vessel sales in 2013 |
587 |
Total vessel sales in 2014 |
1,056 |
Total vessel sales, Asset Smart strategy |
1,643 |
About BOURBON
Among the market leaders in marine services for
offshore oil & gas, BOURBON offers the most demanding oil &
gas companies a wide range of marine services, both surface and
sub-surface, for offshore oil & gas fields and wind farms.
These extensive services rely on a broad range of the
latest-generation vessels and the expertise of more than 11,000
skilled employees. Through its 28 operating subsidiaries the group
provides local services as close as possible to customers and their
operations throughout the world, of the highest standards of
service and safety.
BOURBON provides two operating Activities
(Marine Services and Subsea Services) and also protects the French
coastline for the French Navy.
In the first 9 months of 2014, BOURBON'S revenue
came to €983.4 million and the company operated a fleet of 501
vessels as of September 30, 2014. Under the "BOURBON 2015
Leadership Strategy" plan, the group has built a vast fleet of
innovative, high-performance mass produced offshore vessels.
Placed by ICB (Industry Classification
Benchmark) in the "Oil Services" sector, BOURBON is listed on the
Euronext Paris, Compartment A.
Contacts
BOURBON
Investor Relations, analysts, shareholders
James Fraser, CFA +33 491 133 545
james.fraser@bourbon-online.com
Corporate Communications Christelle Loisel
+33 491 136 732
christelle.loisel@bourbon-online.com
Media relations agency Publicis Consultants
Jérôme Goaer +33 144 824 624
jerome.goaer@consultants.publicis.fr Véronique Duhoux
+33 144 824 633 veronique.duhoux@consultants.publicis.fr
Vilizara Lazarova +33 144 824 634
vilizara.lazarova@consultants.publicis.fr
pdf version http://hugin.info/159569/R/1883597/665361.pdf
HUG#1883597
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