Prosafe ranked first in Brazil auction

Prosafe has participated in an online auction for the supply of safety and maintenance support vessels to Brazil and on conclusion of the auction achieved first place commercial ranking, the Company said in a press release.

The auction concluded on 23 January 2019 was related to a two batch public opportunity with each resulting contract being for a three year duration. With Prosafe being ranked first place in both batches, the client will nominate which batch the Safe Eurus will be allocated. There now follows a compliance evaluation process before the contract will be formally awarded.

Upon conclusion of the process and anticipated contract award, Prosafe will deliver the Safe Eurus within 150 days and commence operations creating synergies with her sister vessel, Safe Notos already on charter offshore Brazil. The commercial flexibility afforded to Prosafe through very attractive delivery and financing terms with COSCO Shipping (Qidong) Offshore Co. Ltd has created a significant competitive advantage in the process.

Prosafe owns and operates seven semi-submersible accommodation, safety and support vessels and one Tender Support Vessel (TSV) that can also operate as an accommodation vessel. Furthermore, Prosafe has an agreement with COSCO shipyard for flexible delivery and long-term finaning of three new build harsh environment vessels: Safe Eurus, Safe Nova and Safe Vega. These vessels are nearing completion with a planned preservation and strategic stacking mode in the yard and can be ready for worldwide operations from 2019.