Restructuring French offshore support vessel (OSV) owner Bourbon has continued to trim its huge fleet.
The 11,154-bhp anchor handling tug supply vessel (AHTS) Bourbon Aladin (built 2005) has been snapped up by M Pallonji Logistics in India.
The Indian company is listed by Clarksons as operating a lone platform supply vessel (PSV).
Prior to this transaction, Bourbon Aladin had been laid up in the UAE for several years, according to Seabrokers.
It has been renamed MP AHTS 1. VesselsValue assesses the unit as worth just $910,000.
Teh Bourbon Aladin was built by Keppel Singmarine in Singapore and has a bollard pull of 124 tonnes.
Sell-off continues
Bourbon took 18 ships out of layup during the first half of this year in better offshore markets, but it has also been disposing of what it calls non-strategic vessels.
Total vessels in the fleet shrank to 472 as of 30 June, from 495 at the end of 2018.
Last week, lenders rejected a plan by Bourbon owner Jacques de Chateauvieux and his family to save the company.
A takeover by its banks now looks the likely option, with the French family set to lose control of the shipowner.
Holding company Bourbon Corp and subsidiary Bourbon Maritime had been the subject of four takeover offers as part of its reorganisation proceedings at Marseilles commercial court, which has now evaluated all of them.
Court decision due
A decision will be made on 23 December.
Other offers, from French logistics group Peschaud and US offshore vessel owner Tidewater, were not presented at the hearing.
Chinese creditor ICBC is backing Bourbon's French lenders, who have 75% of the debt and what appears to be the only plan left standing.
A source close to the lenders told TradeWinds that neither ICBC Leasing nor the French banks have had discussions with De Chateauvieux since Bourbon halted debt repayments in April 2018.
ICBC is linked to the other banks in terms of their offer, so the Chinese company working with De Chateauvieux did not make sense, the source added.
