Bourbon to Idle Oil-Service Vessels as Losses Widen With Rout
- Company's net loss quadruples to 19.2 million euros in H1
- As many as 35 vessels to be pulled from fleet in second half
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Bourbon SA, a French supplier of ships and crew to oil and natural gas producers, is pulling as many as 35 vessels from operation in the second half of the year as overcapacity in the deepwater market leads to widening losses.
“The drop in the oil price and the uncertainty of the price recovery will continue to affect the development of new deepwater fields and the level of activity in shallow-water fields,” the Paris-based company said in a statement Wednesday.