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Prosafe ( (GB:0J5Y) ) has shared an update.
Prosafe reported fleet utilisation of 42% for March and 79% for the first quarter of 2026, with the Safe Eurus operating at near full commercial uptime in Brazil and Safe Boreas earning full day rate ahead of the start of its 15‑month firm contract in early April. The Safe Zephyrus and Safe Notos completed scheduled special periodic surveys, upgrades and maintenance largely in line with cost expectations, while Safe Caledonia remains in lay-up with a letter of intent for future work from Ithaca Energy, underscoring a tightening accommodation market and the company’s focus on securing follow-on work beyond 2027.
CEO Reese McNeel highlighted the successful execution of the maintenance projects and the milestone of Safe Boreas becoming fully operational in Australia, pointing to improving market conditions supported by recent contract awards and active tendering. Prosafe’s operational progress and upcoming contract pipeline, including the anticipated firm contract for Safe Caledonia in 2026 for work starting 2027, suggest strengthening utilisation prospects and a more favourable outlook for stakeholders as the offshore accommodation market continues to develop.
More about Prosafe
Prosafe is a leading owner and operator of semi-submersible accommodation vessels serving the offshore energy sector. Listed on the Oslo Stock Exchange under ticker PRS, the company provides offshore accommodation and related services to clients including Petrobras and other major operators in key markets such as Brazil, the UK and Australia.
Average Trading Volume: 1,341,263
Current Market Cap: NOK1.21B
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