Bourbon’s New Shareholders Drive Rapid Expansion in Offshore Operations
France’s Bourbon is highlighting the rapid expansion of its fleet and efforts to consolidate its position in the offshore market since the start of the year. The group completed a series of steps in 2025, which restructured its financial and capital structure, and with the emergence of new majority shareholders, who said they would contribute to new growth.
Since the start of 2026, the group reports it has added 13 offshore support vessels to its fleet. They said it represents an investment of over $180 million. They pointed to the opportunities in the offshore market as the sector has continued to consolidate.
It completed the acquisition of six diesel-electric vessels from the Minsheng Group. This included five platform supply vessels and an anchor handling tug supply ship. It points out that the vessels complement its existing fleet. It also acquired two large-capacity PSVs from ICBC that are similar to its current X-Bow vessel, Bourbon Calm. The newly acquired ships were named Bourbon Front and Bourbon Clear. It is also reactivating two of its 80-ton diesel AHTS vessels, demonstrating the opportunities it sees in reactivating more of its laid-up fleet.
On the newbuild side, it also took delivery in February of a vessel designed for deepwater subsea operations. The vessel was delivered in Singapore and is beginning a contract this quarter in South Asia.
“In just a few months, we have expanded our fleet, secured significant investments, and quickly returned vessels to service for our customers. This momentum toward profitability and growth is the result of the transformation we began in early 2025 and the dedication of our teams,” said Gaël Bodénès, Chief Executive Officer of Bourbon.
The group, which dates back to the 1940s, began its transition into shipping in the 1990s. In the 2000s, it moved to become a pure play in the offshore sector, but it encountered financial difficulties during the downturn in the market in the mid-2010s. In February 2018, facing the deepest crisis that the oil industry has experienced since the 1990s, Bourbon highlights it began implementing a strategic action plan. By 2020, it had largely completed a series of steps to put the company back on a stronger footing.
The latest piece for the restructuring was launched in 2025 and included a conversion of a significant portion of its debt into equity and the injection of new capital. Affiliates of Davidson Kempner Capital Management and Fortress Investment Group became the majority shareholders of the company and agreed to a restructuring of the management and board of the company.
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They announced the appointment of Gaël Bodénès as Chief Executive Officer to lead the new phase of the group’s transformation plan until mid-2026 and his scheduled departure from the group. They pointed to a structured and well-managed transition framework.
Bourbon said that the offshore marine services market continues to benefit from the structural momentum of the global energy sector, driven both by rising demand and the energy transition. They believe the company is now positioned with stronger resources to pursue the opportunities in the market.
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