French vessel owner Bourbon saw adjusted revenues slide 23.3% in 2016 as it faced a “strongly declining” market.
Adjusted revenues for the year totalled €1.1 billion ($1.2 billion), compared to more than €1.4 billion in 2015.
Hurting revenues was a drop in the average utilisation rate, year-on-year, from 79.1% to 61.6%, while the company achieved an average day rate of $15,466 per day compared to an average of $18,089 a year earlier.
