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Bourbon unveils digital revolution action plan

France-based shipping company Bourbon has unveiled a new strategic action plan it is calling #BOURBONINMOTION, including a focus on “capitalising on the digital revolution to better differentiate by connecting the fleet” which will see the company dispose of vessels unable to be upgraded as “smart ships.”

{mprestriction ids="1,2"}“As the market cycle has bottomed out, Bourbon must focus more than ever on operational excellence, fleet utilisation rates, cost reduction programme and free cash flow preservation,” said Gaël Bodénès, chief executive officer of Bourbon Corporation.

“However, we need to go even further, because market overcapacity is driving prices down sustainably and we believe that tomorrow will look very different from yesterday. The crisis has highlighted the need to change our model and this is what the #BOURBONINMOTION plan is all about.”

The company’s self-described “smart shipping” programme will see €75 million invested over three years to improve connectivity and data transfer capabilities across the fleet of 132 modern supply vessels operated by Bourbon Marine & Logistics, with the aim of reducing vessel operating costs by optimising operations.

Among the remaining 65 vessels in Bourbon Marine & Logistics’ traditional fleet, the 41 oldest vessels carry systems which the company says cannot be connected. These ships, described by Bourbon as its “non-smart fleet”, will consequently be sold at current market prices – with the planned disposal of these 41 owned vessels expected to generate an impairment loss of about €170 million.

“We are ready to meet the challenges of the transformation profoundly impacting the oil & gas industry and already driving major changes at our key customers,” said Jacques de Chateauvieux, executive chairman of Bourbon Corporation.

“The #BOURBONINMOTION action plan unveils the new face of Bourbon, which is, as in the past, not afraid to reinvent itself and innovate with the commitment of the women and men who contribute to its development around the world. Indeed, beyond the technological revolution lies a personal revolution for all Bourbon team members.”{/mprestriction}

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