Oil and gas ship supplier Bourbon Offshore has more than 100 ships stacked as it continues to see a demand drought in the first three months of 2017.
First quarter revenue fell 7.7% between January and March compared to the fourth quarter of 2016.
Bourbon said the forecasted fall was strongly impacted by the Shallow water offshore vessel segment, which remains the most affected by the cyclical downturn.
The French firm has 76 deepwater vessels and 26 shallow water vessels out of action at the moment.
Bourbon said due to market condition it would focus on cost reduction and reaction to customer expectations.
Recommended for you
