2025-2026: A NEW PHASE OF DEVELOPMENT

In 2025, BOURBON completes its financial and capital restructuring with the entry into the Group’s capital of funds affiliated with Davidson Kempner Capital Management LP and Fortress Investment Group LLC, which become the Group’s majority shareholders. This milestone marks the beginning of a new phase of development, supported by a strengthened financial position, a simplified organisation built around a single brand and unified governance, and a renewed ambition to enhance the Group’s performance.

Building on this new momentum, BOURBON accelerates the renewal of its fleet, with 13 new vessels representing an investment of $180 million. 

2021-2024 : BACK TO GROWTH

VISION-VALUES: OUR IDENTITY 

The energy market is undergoing profound change: exploding demand, acceleration of the necessary energy transition, emergence of new markets, etc. In 2022, BOURBON is changing its corporate vision and values to reflect these changes: Our vision: "Committed to supporting offshore energies development as a reference partner, building sustainable and innovative maritime solutions". Our values, reformulated and clarified to respond to these transformations and to realize our vision: Ambition - Team spirit - High standards.  

NEW STRATEGIC PARTNERSHIPS 

BOURBON continues to develop through strategic partnerships that enable the Group to address the challenges of growth while strengthening its service offering. In 2023, this led to the creation of new joint ventures, including Al Gihaz Bourbon Marine in Saudi Arabia, which aims to become a key player in maritime logistics in the Kingdom, and Bourbon Guyana, the first local operator of offshore support vessels. 

2017-2020 :
TRANSFORMATION

Financial restructuring and a new shareholding structure

Faced with the prolonged downturn in the Offshore market, BOURBON began restructuring its debt as early as 2017, before initiating reorganisation proceedings in July 2019 for its holding companies, BOURBON Corporation and BOURBON Maritime, in order to preserve the integrity of the Group.

In January 2020, Société Phocéenne de Participation (SPP), comprising the Group’s main creditors — a consortium of French banks representing 75% of the Group’s debt - acquired 100% of the assets of BOURBON Corporation and became its new majority shareholder. That same year, BOURBON sold Les Abeilles to Econocom Group, thereby completing the refocusing of its activities on maritime services for the Offshore industry.

In December 2020, BOURBON Maritime emerged from insolvency proceedings with significantly reduced debt and a strengthened balance sheet. The restructuring was accompanied by a change in SPP’s shareholder structure, with new shareholders - notably ICBCL and Standard Chartered Bank - joining the French banks already holding stakes in the company. 

Transformation plan

In February 2018, facing the deepest crisis that the oil industry has experienced since the 1990s, BOURBON announced a strategic action plan, #BOURBONINMOTION, that would enable it to meet the need for competitiveness and to respond to customers’ new demands. This plan was based on transforming its business models and took advantage of digital technology to lower the operating costs of its vessels. 

The #BOURBONINMOTION strategic action plan was based on 2 priorities:

• Better serving customers through a reorganisation of the Group’s activities into three distinct subsidiaries: Bourbon Marine & Logistics, Bourbon Subsea Services and Bourbon Mobility. These three autonomous companies focus on profitable growth by developing their model towards more integrated services.
   
• Taking advantage of the digital revolution to achieve greater differentiation by connecting the fleet. The “smart shipping” programme, which was primarily intended to improve operational excellence at optimum cost, will ensure a sustainable reduction in the operating costs of vessels.

2007-2016 : A "PURE PLAYER"
IN OFFSHORE OIL AND
GAS MARINE SERVICES

BOURBON sold its port towage business in 2007 and strengthened its position in subsea operations by moving into the Inspection, Maintenance and Repair (IMR) market for offshore oil fields. In 2008, BOURBON acquired DNT Offshore, an Italian company specialising in subsea robotic operations.

The Group then divested its non-core businesses (sugar refineries, bulk transport, etc.). In 2010, in its strategic plan, “BOURBON 2015 Leadership”, it announced its ambition of becoming the world leader in offshore marine services by 2015. This plan took the form of a massive investment over three years in expanding the fleet, with the delivery of a new vessel every 11 days, something which had never been seen in the maritime industry. This gave rise to the Bourbon Liberty, Bourbon Explorer and Bourbon Evolution series of vessels.

In late 2014, the oil sector was hit by the sudden drop in the price of the barrel, triggering a profound crisis for the entire Offshore market. Until 2016, BOURBON showed resilience through operating performance, cost control measures and the conclusion of its investment plan to generate free cash flow.

2000-2006 :
REFOCUSING ON
MARITIME SERVICES

The Group divested its original businesses between 2001 & 2002 and speeded up the process of refocusing on marine services by successfully positioning itself from 2003 in deep offshore marine services in Brazil and West Africa, and then in 2004 in subsea operations through the acquisition of Gaia Enterprise, which became Bourbon Offshore Gaia the following year. In 2005, Bourbon Group became BOURBON and transferred its head office from Reunion Island to Paris.

One of the international leaders in marine services, BOURBON was listed on the SBF 120 of the Paris stock exchange in 2006.

1989-1999 :
DIVERSIFICATION AND
STOCK MARKET LISTING

After expanding geographically and diversifying into industrial fishing, retail distribution and dairy products, the Group acquired 50% of the “Compagnie Chambon” (Marseilles) in 1991 and thus took control of Surf, building on the know-how of this subsidiary to boost its growth in the offshore oil and gas marine services sector. This strategy was reinforced in 1996 with the acquisition of another two companies: Les Abeilles (towing) and Setaf-Saget (dry bulk shipping).

In 1998, the Bourbon Group was listed on the Second Market of the Paris stock exchange.