On Tuesday, leading OSV operator Bourbon announced that it is doubling down on restructuring to adjust to market overcapacity. Bourbon told investors that utilization of the world's offshore fleet is at just 55 percent, even less than in 2015 and 2016, and a third of the world's OSVs are stacked. These challenging conditions have had an impact on Bourbon's bottom line, and the firm's preliminary financial statements indicate a net loss in the range of $740 million for 2017, despite its efforts to control costs. 

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