Agenda Introduction Projects and operations Outlook Attachments 3
Prosafe the leading accommodation company The worlds leading owner and operator of semi-submersible accommodation vessels in harsh environments Fleet growth in the high-end segment within the accommodation market Long track…
Offshore accommodation a late cyclical market Accommodation vessel need Hook-up/ Explo- Develop- Decomm- commis- Production ration ment issioning sioning Hook-up/commissioning of new installations Maintenance,…
Steady growth in dividend Dividend payments 0,7 0,6 +13% Steady growth in 0,6 Q4 +11% dividend 0,5 Q4 Q4 An interim dividend 0,5 0,4 Q4 equivalent to USD 0.15 Q4 Q3 USD per share +70% per share declared in 0,4 Q4 Q3…
Agenda Introduction Projects and operations Outlook Attachments 7
Ordering two new accommodation vessels Contracts with COSCO Qidong for two semi-submersible accommodation vessels The most advanced and flexible units for worldwide operations excluding Norway Ready for operations in 2016 Two…
Two new vessels key specifications Design: Gusto MSC Ocean 500 Cabins: 28 single, 236 double Total accommodation capacity: 500 persons Air gap survival mode: 14.0 meters Air gap operational mode: 7.5-10.0 meters Operating…
Safe Boreas progress Semi-submersible to be built as NCS compliant/ harsh environment DP3 and 12-point mooring Scheduled delivery from yard end of Q3 2014 First contract (six-month plus options) with Lundin for hook-up of Edvard…
Safe Zephyrus progress Semi-submersible to be built as NCS compliant/ harsh environment DP3 and 12-point mooring Ready for operations in the North Sea in the summer season of 2015 Contract in 2016 with Statoil for Mariner in the…
Prosafe aims at being the best in Norway and UK Thruster power (kW) Combined mooring strength (tonnes) 25000 10000 24000 9000 23000 8000 22000 7000 21000 6000 20000 5000 19000 4000 18000 3000 17000 2000 16000 1000 15000 0 Safe Safe…
Prosafe aims at being the best in UK, RoW excl. NCS Thruster power (kW) Combined mooring strength (tonnes) 23000 8000 22000 7000 21000 6000 20000 5000 19000 4000 18000 3000 17000 2000 16000 1000 15000 0 Safe TBN1 Safe TBN2 Floatel…
Capital expenditure 2013 USD 130-150 million of which about USD 90 million capitalised in Q1/Q2/Q3 2013 Major items Safe Caledonia completion Safe Scandinavia SPS, mooring winches and life extension Regalia SPS and…
Safe Scandinavia SPS and life extension Some scope added to aim for 20 years life extension Take advantage of rare three-month yard period Fatigue life enhancement New cranes, 2 x Liebherr Upgrade mooring system New and stronger…
Excellent North Sea fleet Safe Notos new build Safe Eurus new build Safe Boreas new build Safe Zephyrus new build Safe Scandinavia life extension in 2014 (20 years) Safe Caledonia life extension in 2013 (20 years) Regalia life…
Agenda Introduction Projects and operations Outlook Attachments 19
Clear market leader in the high-end segment No. of accommodation semis by owner* No. of accommodation semis by regional capabilites* 32 32 30 Axis Off. 30 28 28 Jasper 26 26 24 CIMC 24 22 22 20 ETESCO 20 Rest of World 18 FOE 18 16 16…
North Sea demand index shows robust demand North Sea accommodation rig demand index Increase in demand 120 related to hook-up and 106 112 110 103 commissioning work 100 101100 99 100 90 91 90 Driven by exploration 90 87 81…
Mexico - stable demand outlook Pemex appears to still require a substantial amount of beds offshore Currently accommodation vessels in operation at the Cantarell field and adjacent areas Longer-term it is anticipated that there…
Brazil growth market Long-term requirements, mainly driven by maintenance Hook-up work can appear longer term Currently eight different types of units in operation All vessels required so far have gone to the Campos basin Campos…
Rest of the world interesting opportunities Australia Several contract awards at attractive economics lately Interesting prospects still in the pipeline South East Asia Dominated by barges due to benign weather Some demand for…
Rest of world dayrates (time charter) 27
Prosafe in strong competitive position Well positioned to meet a potential increase in demand and competition, by having by far the best and longest operational and HSE track- record the largest and most versatile fleet the…
Summary Record high Q3 results Strong order book Positive outlook Continued growth combined with high dividends Prosafe is well positioned Clear market leader High-quality, diversified fleet with growth in the high-end segment…
Agenda Introduction Projects and operations Outlook Attachments 30
New bond loan issued NOK 700 million bond loan issued on 9 October 5 years maturity Interest rate of 3-months NIBOR + 2.95 per cent Lowest credit margin in the Norwegian high-yield market since 2008 Oversubscribed Enhances…
Operating revenues (USD million) Q3 13 Q2 13 Q3 12 9M 2013 9M 2012 Charter income 146.0 127.5 111.7 348.8 329.9 Mob/demob income 0.0 3.7 0.0 5.4 2.0 Gain on sale of Safe Esbjerg 0.0 0.0 4.8 0.0 4.8 Other income 13.4 12.3 25.8 34.5…
Credit facility Total commitments end of Q3 2013: USD 791 million Maturity: August 2017 The current applicable credit margin on the credit facility is 1.875% The availability under the credit facility is reduced semi-annually with…
Safe Zephyrus and Safe Boreas financing USD 420 million term loan for post delivery financing of Safe Boreas and Safe Zephyrus in place Tenor is five years Repayment profile is 12 years Interest rate of USD 3-month LIBOR plus 2.95…
Current bond loan portfolio Bond loans (unsecured) Outstanding Maturity Margin PRS07 NOK 500 million bond (2011-16) NOK 500m Q1 2016 350 bps PRS08 NOK 500 million bond (2012-17) NOK 500m Q1 2017 375 bps PRS09 NOK 500 million bond…
Shareholders SHAREHOLDERS AS AT 04.11.2013 No. of shares Ownership State Street Bank & Trust (nom) 32 562 700 13.8 % Folketrygdfondet 17 489 519 7.4 % State Street Bank & Trust (nom) 17 923 937 7.6 % Pareto 8 729 861 3.7 % Clearstream…
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