Prosafe takes delivery of the Safe Notos
Prosafe has taken delivery of the Safe Notos on 4 February 2016 as part of its fleet renewal strategy. Safe Notos will be the most advanced and flexible vessel for worldwide operations excluding Norway. The vessel was delivered on time and on budget, the company said in its press release.
Delivery was taken only 26.5 months after contract signing. This is the fastest semi-submersible build project since the 1980’s and the fastest out of China ever.
In connection with the delivery, Prosafe has drawn USD 144 million of its committed credit facility. The final delivery instalment was reduced by USD 29 million, by way of a seller’s credit from Cosco (Qidong) Offshore Co., Ltd., repayable in a single payment by 31 December 2016, which results in increased liquidity for the company.
Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 167 million in 2015 and net profit was USD 85.6 million. The company operates globally, employs 850 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS.