The world’s biggest vessel operator, Prosafe, has posted a significant loss for 2017.
Cyprus-headquartered Prosafe went from a £135million pre-tax profit in 2016 to a £482million loss in 2017.
Full-year operating revenues were £202million, compared with £339million in 2016.
The European vessel firm pointed in particular to the North Sea downturn to explain the drop in profits and operating revenue, saying that it “continues to see low incremental activity in the North Sea in the short term” but that it also expects “new opportunities” to arise.
Some of Prosafe’s UK vessels are not currently in use such as the Safe Caledonia, which was contracted to Total back in May of 2017 but is currently laid-up.
Prosafe did, however, sign a 13-month contract with Statoil for the Safe Boreas with the option of six one-month extensions.
Prosafe had the vessel fully contracts with Statoil for the fully fourth quarter.