£265m impairments from ‘prolonged’ North Sea downturn lead Prosafe to heavy loss
Impairment charges of £265million from a “prolonged downturn and weaker outlook in the North Sea” have taken Prosafe to a heavy loss in the third quarter.
Prosafe
Prosafe takeover of Floatel blocked by Norway’s competition watchdog
Vessel accommodation owner Prosafe has had its proposed takeover of Swedish rival Floatel blocked by Norway’s competition watchdog.
Prosafe, Floatel merger faces increased scrutiny from monopoly watchdogs
The UK’s monopoly watchdog has decided to carry out an in-depth investigation into the planned merger between two offshore accommodation providers.
Monopoly watchdog not sold on Prosafe, Floatel merger
The UK's monopoly watchdog is considering ramping up its investigation into the planned merger between two offshore accommodation rig owners.
Safe Boreas gets extension at Mariner
Prosafe’s Safe Boreas accommodation vessel has been given a one-month extension to its time at Equinor’s Mariner field.
Prosafe in Floatel takeover to create world’s largest offshore accommodation firm
Prosafe has signed a deal to acquire Bermuda-based Floatel International to create the “world’s largest” offshore accommodation company.
Prosafe reports loss amid ‘modest’ activity and lower day rates
Offshore accommodation vessel owner Prosafe reported a loss for the start of the year amid “modest” tendering activity.
Prosafe to begin BP North Sea work as Equinor deal winds down
Prosafe has today confirmed in its 2019 first quarter (Q1) report that its Safe Zephyrus accommodation vessel will begin its agreed contract with BP in May.
Prosafe bags £11.4m contract extension amid Mariner delay
Prosafe has been awarded a contract extension at Equinor’s Mariner project amid another setback to first oil from the project.
Higher fleet use helps Prosafe narrow losses
Offshore accommodation provider Prosafe narrowed its losses in 2018 as utilisation picked up.
Union bosses accuse Prosafe of ‘appalling social dumping’
Union bosses have accused offshore accommodation provider Prosafe of perpetrating one of the most “appalling examples of social dumping” ever seen.
Prosafe confirms it will shed 150 jobs
Offshore vessel owner Prosafe has revealed it will shed up to 150 jobs through voluntary redundancy in a effort cut operating costs.
Prosafe bags two North Sea contracts worth £18m
Prosafe has won two North Sea contracts worth £18.1million.
Prosafe in voluntary redundancy process for staff on two North Sea vessels
Prosafe has confirmed it is seeking to reduce its offshore workforce on two North Sea vessels in a bid to cut costs.
North Sea activity helps Prosafe narrow losses
Increased tendering activity for the North Sea helped Prosafe significantly narrow its pre-tax losses.
Prosafe bags £9m North Sea contract
Accommodation vessel contractor Prosafe has clinched a £9 million deal for its Safe Caledonia flotel in the UK North Sea.
Prosafe praises ‘early signs of North Sea recovery’
Offshore accommodation vessel owner Prosafe expects rates to improve amid “early signs of normalisation and market recovery” in the North Sea.
Safe Boreas flotel gets more time on Mariner
Norwegian energy giant Equinor will keep the Safe Boreas accommodation vessel at the Mariner field for another month.
Equinor hand month extension to Prosafe for Mariner
Prosafe has been offered a month extension for the Safe Boreas charter contract at the Mariner project by operator Equinor.
Prosafe gets $25m-plus gig for Safe Scandinavia
Vessel contractor Prosafe will get paid at least $25.5 million for deploying the Safe Scandinavia floatel at the Ula platform in the Norwegian North Sea.
Prosafe submits counter-appeal in £31million Westcon legal dispute
Cyprus-headquartered Prosafe has submitted a counter-appeal in a £31million legal spat with Westcon.
Prosafe accommodation vessel contracted for BP’s Clair Ridge
Prosafe has signed a five-month contract with supermajor BP for the provision of an accommodation vessel at the Clair Ridge platform in the West of Shetland.
Prosafe sinks to huge loss in 2017
The world’s biggest vessel operator, Prosafe, has posted a significant loss for 2017.
Prosafe sees rig rate fall, continues Cosco talks
Prosafe today reported its fleet utilisation rate in the fourth quarter of 2017 was 36.1%
Oil workers’ removal from North Sea rig ‘outrageous’, RMT union says
The decision to send a group of oil workers ashore after they refused to get into lifeboats on a rig is “outrageous”, a union boss has said.