Prosafe has started reducing its idle fleet by scrapping one of its accommodation and maintenance support vessels
The Oslo-listed owner sold 1985-built semi-submersible Regalia for dismantling and recycling in Q1 2021.
Regalia was built to a GVA 3000 design for construction and maintenance support in harsh weather and sea conditions. It has 306 beds, two 50-tonne Liebherr electro-hydraulic cranes, a lay down area of around 600 m² and dynamic positioning to DP2 class. It underwent a major 20-year life extension, refurbishment and refit in 2009.
Prosafe sold Regalia as it struggles with mounting debt and attempts to restructure its finances. On 5 January 2021, Prosafe updated shareholders on the financial situation and process with its lenders to turn debt into equity.
On 20 January, Prosafe updated the operational status of its remaining fleet of accommodation vessels, of which two – 1984-built tender support vessel Safe Scandinavia and 2015-built DP3 Safe Boreas – remain laid up in Norway.
Its fleet utilisation rate in Q4 2020, a period of lower activity in the northern hemisphere offshore industry, was 25%. This was up from 23% in Q4 2019.
Prosafe said its 2016-built DP3 accommodation vessel Safe Zephyrus was undergoing its five-yearly special periodic survey at the Averøy yard in Norway in January 2021. This GVA 3000E design semi-submersible is preparing for an upcoming contract at the Shearwater platform for Shell in the UK, starting in February 2021 for a firm 30 days, while Shell has options to extend this into March and Q2 2021.
Also in the UK, 1982-built Safe Caledonia is temporarily laid up waiting to commence a 162-day contract with Total at the Elgin platform in March 2021. Total also has options to extend this for another 30 days.
Shearwater and Elgin platforms produce gas and condensates from high pressure and high temperature reservoirs in the central North Sea. They pump gas to the UK shore through the same dedicated pipeline.
In South America, 2019-built, DP3 accommodation semi-submersible Safe Eurus continues to provide safety and maintenance support to Petrobras in Brazil on a three-year contract, started in November 2019.
Prosafe’s 2005-built Safe Concordia was idle in Brazil but is being prepared to be mobilised to Trinidad and Tobago to begin a new contract from June 2021.
In southeast Asia, 2016-built Safe Notos is undergoing its five-yearly special periodic survey and will resume operations from February 2021 on a three-year contract that is scheduled to continue until mid-November 2021.
Also in southeast Asia, Malaysian energy group Petronas Carigali has extended a subsea inspection services contract with T7 Global subsidiary Tanjung Offshore to provide underwater inspection services using remotely operated vehicles until at least May 2021.
In the UK, Solstad Offshore secured a term contract for its 2013-built, Ulstein-designed platform supply vessel Sea Forth. This is a one-year contract, starting in April 2021 with an unnamed operator, who has options to extend the contract for Sea Forth for a further two years.
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