Prosafe Posts 96% Fleet Utilisation and Signals Optimism on Offshore Demand

The latest announcement is out from Prosafe ( (GB:0J5Y) ).

Prosafe reported a fleet utilisation rate of 96% for February 2026, underpinned by nearly 100% commercial uptime from the Safe Eurus, Safe Notos, and Safe Zephyrus units in Brazil and strong performance from Safe Caledonia in the UK before its February disconnection. Safe Zephyrus and Safe Notos have entered scheduled surveys and upgrade programs ahead of returning to Petrobras contracts in April, while Safe Boreas continues to earn full day rates pending a delayed gangway connection expected in the second quarter.

In the North Sea, Safe Caledonia completed a nine-month campaign for Ithaca Energy at the Captain Field with full commercial uptime, then mobilised to Scapa Flow awaiting new work as Prosafe evaluates opportunities to fill the gap until a new Ithaca contract starting in 2027. Management signalled confidence in market conditions, citing expectations of continued strong demand and rising day rates, which, combined with high utilisation and a visible contract pipeline, support a constructive outlook for future earnings and fleet deployment.

More about Prosafe

Prosafe is a leading owner and operator of semi-submersible accommodation vessels serving offshore energy markets, particularly in Brazil and the North Sea. The company, listed on the Oslo Stock Exchange under the ticker PRS, provides offshore accommodation and support services to major oil and gas operators, positioning itself as a key supplier in high-specification floating accommodation units.

YTD Price Performance: -12.00%

Average Trading Volume: 1,206,045

Current Market Cap: NOK1.16B

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