Prosafe SE: Operational update Q3 2017
(Thomson Reuters ONE) -
The fleet utilisation rate in the third quarter of 2017 was 38.9 per cent (Q3
2016 52 per cent).
There has been no Lost Time Injury (LTI) in the quarter.
The Safe Scandinavia Tender Support Vessel (TSV) was fully contracted in the
quarter for Statoil with a firm contract period until the end of June 2018.
Safe Caledonia commenced a contract with Total in the UK in mid-May 2017 and was
fully contracted in the quarter. The contract runs until late October 2017.
Safe Notos commenced a three-year and 222-day contract for Petrobras on 7
December 2016. From 1 July 2017, Safe Notos was off-hire to conduct preventive
maintenance and repair of the gangway. The vessel recommenced operations with
Petrobras in early August.
Safe Concordia completed the contract with Petrobras in late July. In the
quarter, the vessel mobilised from Brazil to Curacao and incurred transit costs.
The vessel is now laid-up in Curacao and is available for future work.
Safe Boreas commenced the 13-month firm contract period for Statoil at the
Mariner installation in the UK in early August.
Safe Zephyrus, Regalia, Safe Bristolia and Safe Astoria were idle in the
quarter. Safe Zephyrus, Regalia and Safe Bristolia are laid up in Norway, while
Safe Astoria is laid up in Indonesia.
Safe Eurus is in a preserved, strategic stacking mode with COSCO (Qidong)
Offshore Co. Ltd. (COSCO) in China. Consistent with previous quarters, the
company has accrued for lay-up cost for Safe Eurus. According to the agreement
with COSCO, 50 percent of the accrued lay-up cost shall be paid on delivery and
the remaining 50 percent after delivery.
The standstill agreement between Prosafe and COSCO relating to Safe Nova and
Safe Vega has been extended until December 2017. Prosafe remains in negotiations
with COSCO and related parties to find a workable commercial solution for these
vessels. If an agreement is not reached, Prosafe has the right to cancel the
Safe Nova and Safe Vega newbuilding contracts due to delay and claim a refund of
the instalments plus interest equal to approx. USD 60 million secured by Bank of
China.
Prosafe is a leading owner and operator of semi-submersible accommodation
vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo
Stock Exchange with ticker code PRS. For more information, please refer to
www.prosafe.com
Larnaca, 19 October 2017
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Jesper K. Andresen, CEO
Prosafe Management AS
Phone: +47 51 64 25 30 / +47 907 65 155
Stig Harry Christiansen, Deputy CEO and CFO
Prosafe Management AS
Phone: +47 51 64 25 17 / +47 478 07 813
Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20 / +47 991 09 467
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Prosafe SE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 19.10.2017 - 06:59 Uhr
Sprache: Deutsch
News-ID 564280
Anzahl Zeichen: 3697
contact information:
Town:
Larnaca
Kategorie:
Business News
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