Following its financial restructuring, the French offshore shipping company Bourbon is switching to growth mode: since the beginning of the year, more than a dozen new ships have been added to the fleet, including some from Chinese financial players.
A total of 13 ships have joined the Bourbon fleet, including platform supply vessels and anchor handling tugs (AHTS). More than 180 million dollars were spent on them. The transactions are backed by a new financial basis after the struggling shipping company had to undergo extensive restructuring last year. “Thanks to the support of the new shareholders, this development underlines the Group’s ability to deploy strategic assets quickly and in line with demand for the offshore markets,” the French company announced.
According to the information provided, Bourbon has acquired six vessels from the Chinese Minsheng Group. These are five platform supply vessels (PSVs) and an anchor handling tug with an 80-ton bollard pull.
In addition, two “large capacity” PSVs were acquired from the Chinese financial house ICBC: the “Bourbon Front” and the “Bourbon Clear”. These complement the X-Bow vessel of the same series, the “Bourbon Calm”, which was acquired in September 2025.
“In just a few months, we have expanded our fleet, made significant investments and quickly put ships back into service for our customers. This positive development towards profitability and growth is the result of the transformation we initiated at the beginning of 2025,” said CEO Gaël Bodénès. Further transactions are apparently under discussion: “We are continuing to look for opportunities to secure long-term growth,” said CFO François Sordet.
In addition, two AHTS – also with 80 t bollard pull – were reportedly “reactivated”. The company is now in a position to put laid-up ships back into operation quickly and thus respond efficiently to market demand, it says.
Last but not least, the “Bourbon Evolution 810”, the latest addition to the Evolution 800 series, was taken over in February. Designed for deep-sea underwater operations and suitable for IMR activities (inspection, maintenance and repair), the vessel has two swell-compensated cranes, an improved Class 3 dynamic positioning system (DP3), firefighting and environmental protection equipment and two ROVs with 200 hp each, according to the press release.
The fleet expansion also includes two 27 m crewboats, which will be delivered at the end of 2025 and started work in February on a five-year contract.
The shipping company was once the market leader in the offshore supply vessel segment. Last year, however, it had to be rescued by means of a haircut and recapitalization, which was approved by the holding company SPP (Société Phocéenne de Participation). The Chinese leasing company ICBC had called in debts amounting to 800 million dollars.
Originally founded as a vehicle for Bourbon’s creditor banks to take over the faltering shipping company, SPP itself later got into difficulties due to continuing obligations to Bourbon’s Chinese lenders. Fresh equity capital came from private equity investors Davidson Kempner Capital Management and Fortress Investment Group. Both had previously bought into SPP and will in future be the main owners of SPP and therefore also of Bourbon.
