Bourbon Sells Two AHTS in Planned Modernization Program

Bourbon announces the sale of the 'Bourbon Surf' and 'Bourbon Borgstein', two large 10-year old Norwegian built AHTS (Anchor Handling Tug Supply) vessels for a total amount of US$130 million, generating a total capital gain of approximately US$63 million.

Bourbon will continue to operate the two ships for a minimum period of 2 years to a maximum period of 5 years, with an annual bareboat charter cost of 13% of the transaction value.

This sale continues a company strategy to focus its fleet on modern and fuel efficient ships, built in series.