Bourbon Offshore's Norwegian business lost more than USD 116m in 2020

Bourbon Offshore's Norwegian subsidiary exited last year with a loss of NOK 864m, but the recently restructured carrier eyes good opportunities and future increases in demand, reads the annual report for 2020.

Photo: PR/Bourbon Offshore

Last year, the strained offshore market also hit Bourbon Offshore's Norwegian subsidiary, where low demand and an oversupply of vessels resulted in a major deficit of nearly NOK 1bn (USD 116.5m).

Specifically, Bourbon Offshore Norway, owned by France's Bourbon Marine & Logistics, suffered a loss after tax of NOK 864.4m in a year that also saw the company's fleet of offshore vessels drop to NOK 235m from NOK 611m the year before, according to the carrier's annual report.

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