Jacques de Chateauvieux-led Bourbon has stacked a total of 104 ships as offshore markets remained very weak.
The total is up from 85 following its last quarterly update as activity declined in the final three months.
The French owner said: "To maximise the utilisation rate and revenue of vessels in operation, Bourbon has maintained an active stacking policy. There were 104 vessels stacked, excluding crew boats, as of December 31, 2016."
