bourbon horizon 2010 · 19 horizon 2010 - bulk division focuses on the transport of: cement related...
TRANSCRIPT
![Page 1: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/1.jpg)
BOURBON HORIZON 2010
28 February 2006
![Page 2: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/2.jpg)
2
BOURBON1989-2005
Reunion Sugar Producer
Conglomerat of 3 businesses
Pure Player in Marine Services
1989 2000 2005
Food-processing 100 %
Food-processing21 %
Marine Services27 %
Retail52 %
Marine Services100 %
![Page 3: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/3.jpg)
3
BOURBON1989 - 2005
0
1200
1989 1991 1993 1995 1997 1999 2001 2003 20050
250
1989 1991 1993 1995 1997 1999 2001 2003 Prév2005
TURNOVER 1989-2005
(in M€)
CASH FLOW 1989-2005
(in M€)
Creation of a three activities conglomerateand focus on marine services
2005 proforma 2006
![Page 4: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/4.jpg)
4
MARINE SERVICESPLAN 2003-2007 (5 years)
1 200
24 %37 %
+ 3%+ 3 %+ 25%
+ 15%
2003-2007
600Investments (5 years – M€)
15 % EBIT / Turnover30 % EBITDA / Turnover
Operating ratios in2007
+ 3% Bulk Transport+ 3 % Towage & Salvage+ 20% Offshore
+ 8,5 %Turnover (average per annum)
Prio Plan2002-2006
![Page 5: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/5.jpg)
5
EXECUTION OF THE 2003-2007 PLAN
The new "BOURBON " identity is that of a marine services company operating in offshore oil and gas services, towageand bulk shipping
By the end of 2006, most of the plan will have been achieved
Focus on marine services and transfer of retail to Casino Commissioning of vessels under the 1.4 million euro
investment plan Self financing of growth
BOURBON is a multinational and multicultural team of qualified, responsible, motivated and supportive women and men
The 2003-2007 plan is creating value
![Page 6: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/6.jpg)
6
OffshoreDivision
Towage & SalvageDivision
BulkDivision
EXECUTION OF THE 2003-2007 PLAN
![Page 7: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/7.jpg)
7
Fleet growth 2002-2006
+ 53 supply
+ 39 crewboats
Towage + 4 tugs
Salvage + 2 sea going tugs
Bulk + 3 bulk carriers
Offshore
EXECUTION OF THE 2003-2007 PLAN
![Page 8: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/8.jpg)
8
Manpower development
2002 2006
Bulk Towage & Salvage Offshore
2002 2006
Europe Americas Africa Asia
Division breakdown Geographical breakdown
+ 60%
EXECUTION OF THE 2003-2007 PLAN
![Page 9: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/9.jpg)
9
1990 1995 2000 2005
+ 35% / year+ 14% / year
+ 47% / year
30
135
260
1 800M€
Building up a 3 branches conglomerate
Organicgrowth
Focusing on marine services
Increase in market capitalization
EXECUTION OF THE 2003-2007 PLAN
![Page 10: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/10.jpg)
10
BOURBON Horizon 2010
FOCUS ON OUR THREE MARINE SERVICES ACTIVITIES
INVEST to maintain growth momentum : In the high growth Offshore Division In the moderate growth Towage & Salvage and Bulk
businesses
Maintain an appropriate SELF FINANCING STRATEGY and increase overall pay out
Make of our worldwide STAFF THE BEST ASSET of the company
![Page 11: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/11.jpg)
11
BOURBON Horizon 2010
1 200
-24 %37 %
+ 3 %+ 3 %+ 25 %
+ 15 %
Prior plan2003-2007
2007-2010
Investments (4 years – M€)
EBITDA/average capital engaged by 2010
EBIT / Turnover
EBITDA / Turnover
Operating ratios in 2010
Bulk
Towage & Salvage
Offshore
Turnover (average per annum) + 12 %
+ 20 % + 4 %+ 5 %
40 %24 %16 %
1 450
![Page 12: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/12.jpg)
12
Millions €Millions €
1 6301 630TOTAL
1 220Cash flow from operations180Dividends
210Net Debt220 Towage & Bulk1 230 Offshore
200Sale of assets1 450Investments
Source of fundsUse of funds
BOURBON Horizon 2010
![Page 13: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/13.jpg)
13
BOURBON Horizon 2010
Manpower development
2006 2010
Bulk Towage & Salvage Offshore
2006 2010
Europe Americas Africa Asia
+ 80%
Division breakdown Geographical breakdown
![Page 14: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/14.jpg)
HORIZON 2010 Towage & Salvage Division
![Page 15: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/15.jpg)
15
Horizon 2010 Towage & Salvage Division
is active in three segments
Harbour towage
Terminal Towage
Coastal environment
![Page 16: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/16.jpg)
16
0
40
80
120
160
200
Nb
of tu
gs
XXXXXXXXCoastalEnvironment
Rim
orchiatoriN
apoletani
Tripmare
Rim
orchiatoriR
iuniti
Rem
olcadoresIbaizabal
AIM
S
Kotug
Multraship
Fairplay
Antw
erpP
ort A
utority
Buskerog
derging
Bugsier
Alfons H
akans
Les Abeilles
Boluda
Adsteam
SM
IT
Svitzer
Wijsm
uller
XXXXXXXXTerminal Towage
XXXXXXXXXXXXXXXXXHarbour Towage
Horizon 2010 Towage & Salvage Division
![Page 17: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/17.jpg)
17
Moderate growth target for a profitable division
Investment plan (100 millions €) Replace Carangue and build 5 harbour tugs Get started our setting up and grow our market share in Morocco Win one tender on Terminal towage (4 new tugs)
OUR STRATEGY
Horizon 2010 Towage & Salvage Division
![Page 18: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/18.jpg)
Horizon 2010 – Bulk Division
![Page 19: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/19.jpg)
19
Horizon 2010 - Bulk Division
focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian
Ocean
Coal, grains and any other solid raw material in the Indian Ocean and the Far East
Any cargo that complements the top two cargo materials
The success of is based on a fleet of new vessels (6 bulk carriers with an average age of 3 years) and on long-term charter agreements
The quality of the controlled fleet has generated new markets, like coal in the Indian Ocean, and optimized return cargos
![Page 20: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/20.jpg)
20(1) : % of the turnover
40%40% (1)(1)
Routes Routes basedbased on on coalcoal, , ceralescerales and and manuremanure businessbusiness
37%37% (1)(1)
Routes Routes basedbased on on cementcement businessbusiness
Horizon 2010 – Bulk DivisionMain markets
![Page 21: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/21.jpg)
21
-26
-6-5
-5
-4
+11+11
+10
+10+8
-8
Exporting countries
Importing countries
Cement roads5 main exporting countries (blue)
5 importing countries (red) (millions of tons)
Source : Estin & Co
Horizon 2010 – Bulk Division Main marketsCement market
![Page 22: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/22.jpg)
22
50
17 14
95+ 28% / year + 20% / year
Thermal coal Coking coal
2004 20042011 2011
Source : Estin & Co
Horizon 2010 – Bulk Division Main markets
Indian coal importationsMillions of tons
![Page 23: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/23.jpg)
23
4,2 4,9
3,65,6
6,2
8,5
Cement
Coal – Iron ore(Indian Ocean – Far east)
Others
Setaf Saget volume of freight(Millions of tons)
2005 2010
14
18,5
Horizon 2010 – Bulk Division Main markets
![Page 24: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/24.jpg)
24
Horizon 2010 – Bulk Division
Investment plan of 120 millions euros New design of a high-performance handymax Build 5 new vessels
Grow market share in the coal import market to Indiaas well as the iron ore export market out of India usingour new fleet
develops a marine logistics service in bulk products for industrial groups under long-termcontracts
![Page 25: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/25.jpg)
25
Horizon 2010 – Offshore Division
![Page 26: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/26.jpg)
26
Horizon 2010 – Offshore Division World oil demand
Source: Simmons & Company International – “Today’s Energy Reality”
0
30
60
90
120
1985 1990 1995 2000 2005 2010 2015 2020
mm
bd
Existing field decline – 8%
96 mmbdj of addtional
production needed
Historic world demand + 1,6%
Estimated future oil demand + 2,3%
![Page 27: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/27.jpg)
27
2005
66%
34%
OffshoreOnshore
2010
61%
39%
Horizon 2010 – Offshore Division World oil demand
Offshore % of worldwide oil production (offshore and onshore)
2005
6%
94%
DeepwaterShallow
Deepwater % of worlwide oil production
2010
84%
16%
Source: Douglas-Westwood ; The World Offshore Oil and Gas Forecast 2005-2015
![Page 28: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/28.jpg)
28
Horizon 2010 – Offshore Division World oil demand
65%35%Deepwater
Onshore &Shallow water
-
1
2
3
4
5
6
7
8
9
10
2 000
2 001
2 002
2 003
2 004
2 005
2 006
2 007
2 008
2 009
2 010
Bill
ion
barr
els
+14% per year
+16% per year
■ 65% of oil and gas discovered in 2002-2003 come from Deepwater
Source: The future of Deepwater 2004 Report Wood Mackenzie Fugro Robertson
■ Deepwater oil production will grow by 16% per year from 2006
![Page 29: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/29.jpg)
29
Horizon 2010 – Offshore Division Deepwater vessels market growth
DRILL RIGS
SUBSEA DEVELOPMENT& COMPLETION
STORAGE PRODUCTION UNITS
![Page 30: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/30.jpg)
30
Horizon 2010 – Offshore Division Deepwater vessels market growth
Drilling rigs
Source: ODS Petrodata Independent Study
1195,10%92,58%Semis and Drillships
4136About 100%95,26%Jack-ups in operation
Upgrade jack-ups
Units underconstruction
Utilization rate forecast
1er semester 2006
Utilization rate2nd semester 2005
![Page 31: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/31.jpg)
31
Floating production units FPSOs Spars TLPs
Source: Douglas-Westwood; The World Floating Production Report 2005-2009
2213,8Average per year
59,42%11069Production units installed
Rates of increaseover the period2005-20092000-2004
Horizon 2010 – Offshore Division Deepwater vessels market growth
![Page 32: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/32.jpg)
32
Subsea well completion
Source: Infield; BOURBON Research
424248Average per year
71,05%2 1211 240Subsea installations
Rates of increaseover the period2004-20081999-2003
Horizon 2010 – Offshore Division Deepwater vessels market growth
![Page 33: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/33.jpg)
33
Instability of oil price fluctuation
Political instability, regional crisis
Sharing of vessels by oil companies
Lack of drilling rigs
Deepwater oil and gas activity will definitely grow in the next 5 years
Safety is driving the industry. Oil companies will not take the risk of underestimating their need of vessels
Maintenance of sophisticated equipment, both subsea and surface, will require more vessels
More special products needed offshore
Crew boat trend vs helicopter
Negative factorsPositive factors
Horizon 2010 – Offshore Division Deepwater vessels market growth
![Page 34: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/34.jpg)
34
200
300
400
500
600
700
800
900
1 000
2 000
2 001
2 002
2 003
2 004
2 005
2 006
2 007
2 008
2 009
2 010
+ 13% per year
8 to 12% per year
AHTS > 10,000 BHP
et
PSV > 2,000 DWT
Source: ODS-PETRODATA + BOURBON – 28/11/05
Num
bero
f ves
sels
Horizon 2010 – Offshore Division Deepwater vessels market growth
![Page 35: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/35.jpg)
35
0
100
200
300
400
500
600
700
800
900
2006 2010
Market growth
Deepwater market number of vesselsAHTS & PSV
+ 10 % per year
Horizon 2010 – Offshore Division Deepwater vessels market growth
![Page 36: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/36.jpg)
36
Offshore supply deliveries since 1964
0
50
100
150
200
250
300
350
<1964 1969 1974 1979 1984 1989 1994 1999 2004
Num
ber o
f ves
sels
del
iver
ed
Most of the vessels have been built from1974 to 1984
Source : Source Research, Jefferies & Company, Inc.
Horizon 2010 – Offshore DivisionShallow water vessels market growth
![Page 37: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/37.jpg)
37
138
50237
172
2005 2010
AHTS > 30 years PSV > 30 years
+221 vesse
ls
188 vessels
409 vessels
Source: ODS-PETRODATA – 28/11/05
Large market increase of
vessels over 30 years old
Horizon 2010 – Offshore Division Shallow water vessels market growth
![Page 38: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/38.jpg)
38
1,75 vessel required by jack-up
77 Jack-ups to enter into service in 2006-2007 41 new built
36 stacked back into service (after repair and upgrade)
Demand for shallow water vessels will increase in 2006 and accelerate in 2007
Horizon 2010 – Offshore Division Shallow water vessels market growth
![Page 39: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/39.jpg)
39
0
200
400
600
800
1000
1200
1400
2006 2010
Market growth+2 % per year
Replacement growth
Horizon 2010 – Offshore Division Shallow water vessels market growth
Shallow market number of vesselsAHTS & PSV
![Page 40: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/40.jpg)
40
OUR STRATEGY
Build up LEADERSHIP ON MODERN OFFSHORE by servicing the demanding customers worldwidewith a full range of new generation, innovative and efficient vessels
Horizon 2010 – Offshore Division
![Page 41: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/41.jpg)
41
Horizon 2010 – Offshore Division
Service the most demandingcustomers
Offer a full range of modern offshore vessels
Become clients « PREFERRED COMPANY »
New market segmentation
Target Group
MPSV, PSV, AHTS FSIV, Crewboats, Tugs
Market leader
OUR STRATEGY
Provide innovative and costeffective new generation vessels
![Page 42: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/42.jpg)
42
Bourbon Offshore StrategyNew market segmentation
Deepwater market introduced new generation vessels to the offshore industry :
– Bigger capacity, power and winch size
– Very high maneuverability (DP II)
– Low consumption in station keeping (Diesel Electric)
– Clean and comfort design trends
Safety requirements become the same for all the products (crewboats to MPSV) and all segments (deep and shallow water)
Demanding customers introduce age consideration and get used to new generation vessels
![Page 43: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/43.jpg)
43
Bourbon Offshore StrategyNew market segmentation
Competitors are thinking the same way
Age profile of existing fleet and new technologies introduced for deepwatersuggest that 1995 has been the turning point
New requirements now apply to the full range of vessels used
![Page 44: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/44.jpg)
44
New market segmentationTidewater view
![Page 45: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/45.jpg)
45
Evolution of Vessel RequirementsEvolution of Vessel Requirements
Impact on Vessel Requirements
Comfort and safety of passengersHigh speed
More passengers by helicoptersFast cargo combines with crew boats
Helicopters begin to be used for passengers
All personnel taken by boatVirtually no cargo on crew boats
Personnel
Larger, more powerfulRequirements to carry synthetic rope for moorings
Mooring systems increase in complexity and water depth Horsepower and winch size increase
Minimal assist needsMooring
Travel Distance
Cargo Needs
Drivers
Water Depth
Drilling
Vessel controllability, station - keeping, size, efficiency
Delivery of prepared materials in larger quantities
Delivery
5,000’
Drive to deep water Harsh environments
90’s
150 miles offshore
Much larger capacities of liquid mud neededMethanol carriage increase due to deep water
productionMultiple grades of liquid mud
>10,000’
Future80’sEarly 70’s
Liquid mud mixed ashore and placed in tanksBulk systems go under deck, deliver in quantity
Limited requirementsBulk on deckFuel and water under deckNo liquid mud
Generally less than 150 miles offshore50 miles offshore
Up to 1,000’< 500’
Semi’s go deeper, get bigger
Dominated by Jackups
New market segmentationSeacor view
![Page 46: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/46.jpg)
46
New market segmentationGulfmark view
![Page 47: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/47.jpg)
47
New generation vessels for deepwater operations
PX 105 Bourbon Mistral et Bourbon Monsoon MPSV Athena
PSV GPA 670 Bourbon Hermès
BOURBON is the leading provider of new generation deepwatervessels : AHTS, PSV, MPSV
Bourbon Offshore StrategyNew market segmentation
![Page 48: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/48.jpg)
48
New design developped by BOURBON vs competitorsNew generation of AHTS in shallow water
NILNILDP1 x 350 HP1 x 700 HPBow thruster
Controllable pitch propellers
Controllable pitch propellersPropeller system
DirectDirectDrive system
NILBBL / 200 m3Liquid mud60 T67 TBollard pull900 T1400 T1400 TDWT52 m57 m 58 mLength
Traditional1rst generation
TraditionalAHTS
New generationAHTS GPA 254
DP 22 x 750 HP
Azimuth
Diesel electric
4000 BBL / 660 m3
80 T
Bourbon Offshore StrategyNew market segmentation
![Page 49: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/49.jpg)
49
Traditional1rst generation
NILDP1DP
1 X 300 HP1 X 400 HPBow thruster
Controllable pitch propellers
Controllable pitch propellersPropeller system
DirectDirectDrive system
NIL3590 BBLLiquid mud
1000 T1600 T1600 TDWT
54 m57 m 58 mLength
TraditionalPSV
New generationPSV GPA 654
DP 2
2 x 750 HP
Azimuth
Diesel electric
4000 BBL / 660 m3
Bourbon Offshore StrategyNew market segmentation
New generation of PSV in shallow waterNew design developped by BOURBON vs competitors
![Page 50: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/50.jpg)
50
Innovative and efficient vessels for modern offshore
Bourbon Offshore StrategyNew market segmentation
![Page 51: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/51.jpg)
51
AHTS GPA 254PSV GPA 654
PSV GPA 640/670
Shallow water Deepwater
Jackup Fixed Semisub Spar EDP FPSO
Bourbon Offshore StrategyNew market segmentation
Innovative and efficient vessels for modern offshore
![Page 52: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/52.jpg)
52
MODERN OFFSHORE :
TRADITIONAL OFFSHORE :
BOURBON : LEADER OF MODERN OFFSHORE
Full range of vessels built since1995, operating in shallow and deep waters
Full range of vessels built before1995 (principally between 1974 and 1984) operating mainly in shallowwater
Bourbon Offshore StrategyNew market segmentation
![Page 53: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/53.jpg)
53
320
548
169
872
1909 vessels
Segmentation : Deep / Shallow
1192
717
Segmentation : Modern / Traditional
1909 vessels
1995Deep
Shallow
Traditional Offshore
Modern Offshore
Bourbon Offshore StrategyNew market segmentation
![Page 54: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/54.jpg)
54
Forecast for new modern offshoreMPSV, PSV and AHTS
« MODERN OFFSHORE » SEGMENT
The number of « modern offshore » vessels workingin deepwater offshore should grow 10% a yearBased on the replacement of the oldest vessels, the number of « modern offshore » vessels working in continental offshore is expected to grow 16% a yearOverall, the « modern offshore » segment shouldincrease the number of vessels 12% a year
![Page 55: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/55.jpg)
55
Basic assumption
Deepwater marketgrowth (new generation vessels)
10% per annum
Shallow water marketgrowth2% per annum
Replacement of the traditional vessels by modern vessels
320
548
570
802
+ 16 % / year
+ 10 % / year
169150
- 4% /year
872 720
Total vessels
2006 Horizon 2010
868
1 372
1041870
1909 2242Traditional Offshore
Modern Offshore
Deep
Shallow
1995
Forecast for new modern offshoreMPSV, PSV and AHTS
![Page 56: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/56.jpg)
56
Bourbon Offshore strategyTarget customers
![Page 57: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/57.jpg)
57
1%Conoco Phillips
Majors
4%Shell
28%Total
% Turnover Bourbon Offshore
67%
3%Agip
3%Statoil
0%ONGC
0%Petronas
3%Pemex
5%Petrobras
National monopoly
1%Chevron
3%BP
16%Exxon
Super Majors
Bourbon Offshore strategyTarget customers
![Page 58: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/58.jpg)
58
Bourbon Offshore strategyA full range of modern vessels
MPSV AHTS PSV
FSIV CREW BOAT TUG
![Page 59: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/59.jpg)
59
TIDEWATERSEACOREDISON CHOUEST
BOURBON
MAERSKSOLSTADISLAND OFFSHOREFARSTAD
CBOHORNBECKGULFMARKEZRASWIREGREAT EASTERN
Regional Worlwide
PRODUCT RANGE
Limited
Complete
MARKET REACH
Bourbon Offshore strategyA full range of modern vessels
![Page 60: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/60.jpg)
60
0%
20%
40%
60%
80%
100%
120%
Number of units
Solstad
Bourbon Offshore strategyMarket leader of modern offshore
Modern offshore vesselsIn % Total fleet
Seacor-Seabulk
Tidewater
Swire
GulfmarkHornbeck
Farstad
Maersk
Edison Chouest
Modern offshore segment MPSV – AHTS – PSV
2006
2010X 2
For BOURBON including Rigdon MarineSource: ODS-PETRODATA – 28/11/05
20 40 60 80
![Page 61: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/61.jpg)
61
0%
20%
40%
60%
80%
100%
120%
Number of units
Modern offshore segment – Full range
20062010
Seacor-Seabulk
Tidewater
Source: ODS-PETRODATA – 28/11/05
50 100 150
Edison ChouestHornbeck
Gulfmark
SwireSolstad
Maersk
Farstad
X 2
For BOURBON including Rigdon Marine
Bourbon Offshore strategyMarket leader of modern offshore
Modern offshore vesselsIn % Total fleet
![Page 62: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/62.jpg)
62
Bourbon Horizon 2010 The 4 Key Success Factors
SAFETY STRUCTURING OPERATIONS EXCELLENCE AND BEHAVIOUR
• NEW GENERATION VESSELS• CONSTRUCTION IN SERIES
INNOVATION
• INTERNATIONAL RECRUITMENT• TRAINING AND PROMOTION• KEEP HAPPY AND WEALTHY
HUMAN RESSOURCES
• OPERATIONS• MAINTENANCE• OVERHEADS
COST EFFICIENCY
SECURITY
![Page 63: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/63.jpg)
63
1,5
1,98
1
0,98
0,7 0,51
0,5 0,370,25 0,120
0,5
1
1,5
2
2,5
2001 2002 2003 2004 2005
Objectives Performance
Bourbon Offshore Safety performances
LTI Rate per 200 000 hours worked
SECURITY :
![Page 64: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/64.jpg)
64
NEW GENERATION VESSELS Safe Anchor Handler – Inverted bow Diesel Electric and DP2 New concept for modern vessels dedicated to shallow water
COMPETITIVE SHIPYARDS China, India … Built in series (scale effect)
TIMELY DELIVERED In replacement market, timing is of the essence Successful deliveries of Chinese PSV
INNOVATION
![Page 65: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/65.jpg)
65
HUMANRESSOURCES
![Page 66: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/66.jpg)
66
587
20444 22 62
0
1500
WORLDWIDE BREAKDOWN
5027
721
407
568
0
1500
• Officers
• Ratings
Actual 2010
EuropeansSouth americans and americans
AfricansAsiansOthers
HUMANRESOURCES
![Page 67: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/67.jpg)
67
TRAINING AND PROMOTION
Number of D.P operators to be trained : 320 Number of security officers in 2010 : 35 Additional ground staff needed worldwide : 100
VALUE CREATION SHARING
New « stock options » plan started December 2005 Beneficiaries extended from 5 to 10% of BOURBON manpower
HUMANRESOURCES
![Page 68: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/68.jpg)
BOURBON HORIZON 2010
28 February 2006
![Page 69: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/69.jpg)
69
BOURBON HORIZON 2010CONCLUSION
Revenues growth of 12% annually
Investments of 1.45 billion eurofrom 2007 to 2010, largely self-financed
EBITDA on average capital engaged of 16% by 2010
4 success factors: safety, innovation, humanresources, cost control
![Page 70: BOURBON HORIZON 2010 · 19 Horizon 2010 - Bulk Division focuses on the transport of: Cement related products, primarily in the Atlantic and the Indian Ocean Coal, grains and any other](https://reader034.vdocuments.us/reader034/viewer/2022042305/5ed0f3292a742537f26ea015/html5/thumbnails/70.jpg)
70
BOURBON HORIZON 2010CONCLUSION
BOURBON – leader on modern offshore by servicingthe demanding customers worldwide with a full range of new generation, innovative and efficient vessels
BOURBON - the French expert in port towage and coastal protection
BOURBON - a specialist in marine logistics services for the bulk products of industrial groups within a long-term contract relationship