Prosafe SE Announces Key Updates on Vessel Operations
Overview of Fleet Utilisation in Early 2025
As of January 2025, Prosafe SE reported a fleet utilisation rate of 57 percent. This figure reflects the operational performance of the company's vessels, highlighting both challenges and strengths within the fleet.
Performance Highlights of Key Vessels
The vessels Safe Notos and Safe Concordia achieved remarkable results, operating at full capacity with 100 percent utilisation. Additionally, both Safe Eurus and Safe Zephyrus also demonstrated excellent performance, reaching nearly full capacity with a utilisation rate of 99 percent each. This efficiency showcases Prosafe's commitment to optimal operations.
Upcoming Reactivation of Safe Caledonia
Safe Caledonia has kicked off reactivation efforts in Scapa Flow and is scheduled to mobilise to the Captain Field later in the year, marking an important step in expanding Prosafe's operational footprint. This preparation phase is crucial for fulfilling future contract obligations.
Future Plans for Safe Boreas
In Norway, preparations are underway for Safe Boreas, which is set for relocation in the second quarter of 2025. The vessel is on track for a contract in Australia, expected to commence between mid-November 2025 and mid-February 2026. These strategic movements highlight Prosafe's focus on cultivating international partnerships.
Sale of Safe Concordia
In a significant development, Prosafe has agreed to sell Safe Concordia to an undisclosed buyer. This vessel is anticipated to transition to its new ownership upon fulfilling current charter commitments, within a timeframe ranging from March to June 2025. The transaction remains contingent upon typical closing prerequisites, emphasizing the company's strategic asset management.
Current Status of Safe Scandinavia
Currently, Safe Scandinavia is laid up in Norway. The management of Prosafe is continually assessing the operational status of all vessels to ensure that resources are utilized efficiently, aligning with market demand.
About Prosafe SE
Prosafe SE stands as a prominent owner and operator of semi-submersible accommodation vessels. Listed on the Oslo Stock Exchange with the ticker code Oslo:PRS, the company has established itself as a leader in providing essential offshore services. Prosafe’s extensive experience and innovative approaches enable them to adapt to changing market conditions effectively.
Contact Information
For any inquiries related to this update, you may reach out to:
Terje Askvig, CEO
Phone: +47 952 03 886
Reese McNeel, CFO
Phone: +47 415 08 186
Frequently Asked Questions
What is the current fleet utilisation rate for Prosafe SE?
The fleet utilisation rate for January 2025 was reported at 57 percent.
Which vessels are achieving full capacity?
Safe Notos and Safe Concordia have both reached full capacity with 100 percent utilisation.
What are the plans for Safe Caledonia?
Safe Caledonia is currently undergoing reactivation activities and is set to mobilise to the Captain Field within the year.
When is Safe Boreas expected to be relocated?
Safe Boreas is preparing for relocation in Q2 2025, for a contract commencing in Australia between mid-November 2025 and mid-February 2026.
What is the status of Safe Scandinavia?
Currently, Safe Scandinavia remains laid up in Norway, with the company evaluating operational strategies.
About The Author
Contact Thomas Cooper privately here. Or send an email with ATTN: Thomas Cooper as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.