BOURBON (EPA:GBB) BOURBON announces the signing of a US$ 545 million sale agreement for 16 Supramax Bulk carriers

Transparency directive : regulatory news

25/06/2010 08:20

Paris, June 25, 2010

   BOURBON announces the signing of a US$ 545 million sale agreement for 16
                             Supramax Bulk carriers

BOURBON announces that its subsidiary Setaf SA has signed a US$ 545 sale
agreement for 16 bulk carriers with US group Genco Shipping and Trading Ltd.

The closing is expected by end of July 2010.

"As a shipowner, we are a pragmatic company, and we seized an opportunity.
Following the Group strategy for its Bulk Division, Setaf is actively managing
its shipping activity as a freight operator as well as a ship owner, to offer
customized services and dedicated advanced ships to its customers" says Jacques
de Chateauvieux, Chairman & Chief Executive Officer of BOURBON. "The
contemplated sales will contribute significantly to the financing of the new
"BOURBON 2015' Leadership Strategy".

Aside from the vessels sold, Setaf owns directly a 28,000 ton cement carrier,
which is under a longterm charter to Lafarge, and charters a fleet of an average
10 to 12 chartered bulk carriers.

About BOURBON
BOURBON offers a full range of deep and shallow offshore oil and gas marine
services. Under its "BOURBON 2015 Leadership Strategy", BOURBON will invest
2 billion US$ to offer the most demanding clients 600 innovative, high
performance, new-generation and efficient vessels and the highest standards of
quality worldwide.
BOURBON also specializes in bulk transport and protects the French coastline for
the French Navy.
Classified by ICB (Industry Classification Benchmark) in the "Oil Services"
sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is
included in the Deferred Settlement Service SRD and in the SBF 120 and Dow Jones
Stoxx 600 indices.

About Genco Shipping & Trading Limited
Genco Shipping & Trading Limited transports iron ore, coal, grain, steel
products and other drybulk cargoes along worldwide shipping routes. Genco
currently owns a fleet of 35 drybulk vessels, consisting of 9 Capesize, 8
Panamax, 4 Supramax, 6 Handymax and 8 Handysize vessels, with an aggregate
carrying capacity of approximately 2,903,000 dwt. After the expected delivery of
the Metrostar vessels that Genco has agreed to acquire, Genco will own a fleet
of 40 drybulk vessels, consisting of 9 Capesize, 8 Panamax, 4 Supramax, 6
Handymax, and 13 Handysize vessels with a total carrying capacity of
approximately 3,078,000 dwt. In addition, after the delivery of 4 vessels
expected in the third and fourth quarters of 2010, their subsidiary Baltic
Trading Limited will own a fleet of 9 drybulk vessels, consisting of 2 Capesize,
4 Supramax and 3 Handysize vessels with an aggregate carrying capacity of
671,000 dwt. References to Genco's vessels and fleet in this press release
exclude vessels owned by Baltic Trading Limited.

Contacts

Publicis Consultants / Press Relations

Jérôme Goaer       +33 (0)1 40 71 32 35 jerome.goaer@consultants.publicis.fr

Elodie Woillez     +33 (0)1 57 32 86 97 elodie.woillez@consultants.publicis.fr

BOURBON

Investors - Analysts - Shareholders Relations

Patrick Mangaud    +33 (0)1 40 13 86 09 patrick.mangaud@bourbon-online.com

Communications Department

Christa Roqueblave +33 (0)1 40 13 86 06 christa.roqueblave@bourbon-online.com

         All information is available on www.bourbon-online.com

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BOURBON (EPA:GBB) BOURBON announces the signing of a US$ 545 million sale agreement for 16 Supramax Bulk carriers

Transparency directive : regulatory news

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