Prosafe SE Sees Positive Fleet Utilization in November Update

Author: Addison Perry Updated: 12-19-2024 03:30 AM

Overview of Fleet Utilization in November

In the latest operational update, Prosafe SE reported a fleet utilization rate of 57 percent for November. This performance reflects the ongoing demand for semi-submersible accommodation vessels in various markets.

Key Highlights in Vessel Operations

During the month, the operating vessels, including Safe Notos, Safe Eurus, Safe Zephyrus, and Safe Concordia, each maintained a remarkable 100 percent utilization. This achievement underscores the effectiveness of Prosafe's operational strategy and fleet management.

Safe Zephyrus and Petrobras Partnership

Looking forward, there are positive developments regarding Safe Zephyrus as an extension into Q3 2027 is anticipated in collaboration with Petrobras. This long-term partnership demonstrates both companies' commitment to leveraging innovative accommodation solutions in the energy sector.

Safe Caledonia Reactivation Efforts

Meanwhile, Safe Caledonia has initiated reactivation activities in Scapa Flow, UK, and is set to mobilize to the Captain Field, UK, by June. This proactive approach ensures that the vessel is ready to meet future project demands.

Vessels Awaiting Future Contracts

On the other hand, Safe Boreas is currently laid up in Norway as preparations continue for its relocation in Q2 2025 to fulfill a contract in Australia. The commencement of this project is projected for early October 2025, indicating a strategic effort to maximize fleet operational periods.

Status of Safe Scandinavia

Safe Scandinavia is also laid up in Norway, which signifies the need for careful monitoring of market conditions to optimize the utilization of vessels awaiting new contracts.

Prosafe's Market Position

As a leading operator and owner in the semi-submersible accommodation vessel sector, Prosafe SE is listed on the Oslo Stock Exchange under the ticker PRS. The company's strong performance in fleet utilization highlights its responsiveness and adaptability to market demands, creating a robust foundation for future growth and sustainability.

Contact Information for Inquiries

For further details or inquiries, stakeholders can reach out to Prosafe's leadership. Terje Askvig, CEO, can be contacted at +47 952 03 886, and Reese McNeel, CFO, is available at +47 415 08 186. These contacts can provide valuable insights into the company's operations and strategic direction.

Frequently Asked Questions

What was the fleet utilization rate for November?

The fleet utilization rate for November was reported as 57 percent.

Which vessels achieved 100 percent utilization in November?

The vessels that achieved 100 percent utilization include Safe Notos, Safe Eurus, Safe Zephyrus, and Safe Concordia.

What is the future for Safe Zephyrus?

Safe Zephyrus is expected to have its contract extended with Petrobras into Q3 2027.

When is Safe Caledonia scheduled to mobilize?

Safe Caledonia is set to mobilize to the Captain Field in June 2025.

What is Prosafe SE's primary market?

Prosafe SE specializes in providing semi-submersible accommodation vessels within the energy sector, particularly accommodating offshore activities.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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