French offshore solutions business Bourbon Offshore reported modified profits of 340.1 million euros in the very first fifty percent of the year, down 15.2% contrasted to the 2nd fifty percent of 2017, pointing out the ongoing difficult market setting.

Revenues were generally influenced by decreasing prices as well as subsea task, which got to a nadir throughout the very first fifty percent, Bourbon claimed.

The business reported a typical use price of 52.7%, down somewhat contrasted to the 2nd fifty percent of 2017.

Bourbon likewise reported it currently has actually 184 vessels piled, down somewhat from the 182 vessels piled since H2 2017.

“The number of stacked vessels stabilized over the period reflecting, on the one hand, the gradual reactivation of vessels and, on the other hand, the implementation of the non-strategic vessels disposal plan,” the business claimed in its news release.

Bourbon additionally reported a bottom line of 197.1 million euros, much less than 406.1 million euro bottom line in H2 2017.

“While market conditions remained difficult in the first half of 2018, continued efforts made by our teams to bring costs under control combined with the continuing implementation of our strategic plan, #BOURBONINMOTION, enabled us to maintain our operational performance and prepare ourselves to take advantage of the expected turnaround,” mentioned Ga ël Bod énès, Chief Executive Officer of Bourbon.