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Marine Log

February 28, 2007

Bourbon orders 46 new vessels

Paris-based Bourbon today announced orders worth Euros 560 million (US$ 730 million) for 46 new offshore service vessels.

In all, the massive expansion involves three series of vessels, 46 of which will be built at Sinopacific shipyards in China anf two at West Atlantic Shipyard in Nigeria.

Two series are based on GPA designs identical to the 36 vessels ordered by Bourbon in April 2006:

- 28 AHTS GPA 254 supply and anchor-handling tugs with 80 tons pull

- 14 PSV GPA 654 platform supply vessels with 1600 tons deadweight.

All the GPA design vessels are primarily intended for the replacement market operating in the continental offshore where more than 400 vessels now in service will be over 30 years old by 2010. The characteristics of the new vessels will also make them excellent additional supply vessels for deepwater offshore operations.

They are all equipped with diesel-electric propulsion and classed DP2 and FiFi1.

The other series comprises four Ulstein PX105 MACS supply vessels of 4,400 dwt, 88.8 m long, with the Ulstein X-Bow and the PG-MACS system.

This new series is the culmination of the optimization of the design of the P105 and PX105 models, four of which are under construction for Bourbon, while four others have proven their operational value in the Bourbon fleet since 2005.

Equipped with diesel electric propulsion, classes DP2 and FiFi1, and a double hull, this series is "clean design" certified and meets the highest standards of protection of the environment and comfort.

Two major innovations are the positioning of engine exhaust on the waterline, which does away with the conventional exhaust stack thus allowing a 360 panoramic view from the bridge, and the MACS (Multi Application Cargo Solution) system which increases storage capacity in the hold and enables different types of cargo to be stored.

These vessels therefore meet the needs of the international deepwater and North Sea offshore industry while offering extremely profitable technological solutions to customers.

With these additional 46 vessels, Bourbon's Offshore Division has a total of 110 supply vessels on order as of February 28, 2007.

Deliveries will be made up to September 2011, when BOURBON will have the most up-to-date fleet on the market.

Christian Lefevre, Executive Vice President and Chief Operating Officer of Bourbon, said:

"These orders are strategic because they will allow Bourbon to affirm its leading position in modern offshore with a multi-purpose fleet adapted for safety, maneuverability, environmental protection and productivity. The construction of these vessels in series is in line with a proven and profitable business model to reduce construction and maintenance costs. The success of this model is based on the high level of industrial know-how that Bourbon has already demonstrated. It is also based on the tested capability of China's Sinopacific shipyards to produce quality vessels, which has been confirmed by the success of the 14 vessels already delivered and in operation and which give full satisfaction to our customers.

"With these orders of two series of new vessels intended both for deepwater and continental offshore, and the PSV series dedicated to deepwater offshore, we will, with confidence, satisfy the needs of all our customers for modern vessels."

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