Recent developments Several contract awards recently Improved revenue visibility Contract inflow of approx. USD 260 million so far in Q3 Contract secured for all new builds New build Safe Boreas successfully commenced…
Fleet renewal: Safe Boreas and Safe Zephyrus Safe Boreas has successfully commenced operations for Lundin at the Edvard Grieg field in Norway Safe Zephyrus nearing completion Contracts in place Covering initial short period for…
Fleet renewal: Safe Notos and Safe Eurus Projects developing as planned Strong capabilities The most advanced and flexible vessels for worldwide operations excluding Norway First contract in place for Safe Eurus Three year…
Conversion: Safe Scandinavia TSV project 3 years firm (+4 years of options) contract with Statoil as a Tender Support Vessel (TSV) at Oseberg st in Norway Arrived at Westcon yard in Norway for TSV conversion in March Project…
Leading provider of offshore accommodation vessels Prosafe is the leading owner and No. of accommodation semis by owner operator of accommodation 34 32 POSH 30 semis 28 Yiu Lian 26 OOS High quality and versatile fleet 24 22 Axis…
Prosafe has high market share in key markets *RoW includes semis, JU, monohulls and barges 10
Balanced debt position Note: As the new USD 1,300 million facility includes a revolving tranche, the scheduled instalments do not necessarily imply a reduction of cash (or gross interest-bearing debt) 12
Capex coming down after completion of projects USD 50-60 million expected across the fleet in 2017 Executed and planned capex projects Regalia Boreas Caledonia Scandinavia Scandinavia Boreas Notos Larger projects: Zephyrus Notos…
Contract backlog robust Added considerable contract backlog recently Gross value of charter contracts Status end Q2 15 2 500 Firm contracts USD 1,024m + Options (1) USD 604m = Total USD 1,628m 2 000 Options Letter of Intent…
North Sea near term improved for Prosafe Near term improved for Prosafe Recent contract awards Three year demand index drop confirming previously expected deferrals and descoping Medium term remains uncertain Pressure on clients to…
Mexico short-term uncertainty Pemex continues to focus on cost- reduction programs as a result of lower oil price A number of drilling programmes have been terminated Reduction of offshore workforce supporting operations and…
Brazil new three year contract awarded Three year contract signed with Petrobras for Safe Eurus Long term outlook remains positive for high end vessels Demand for lower-end equipment diminishing Many non-semi assets…
Rest of the world - in brief Australia Prospects related to hook-up and commissioning As fields are getting older, there should be potential for more maintenance and modification related work South East Asia Prospects in mid and…
Offshore accommodation Back to normal Accommodation vessel need Hook-up/ Explo- Develop- Decomm- commis- Production ration ment issioning sioning Back to normal: Majority of prospects currently being traditional demand…
Illustration:Traditional demand driver intact Many facilities on the NCS were originally intended to last for 15-25 years Major investments have been made to improve recovery from fields on the NCS And now many of the facilities are…
Improved visibility 22
Summary Several contract awards recently All new builds contracted Robust order backlog of USD 1.6bn New prospects continue to appear despite downturn in the market Long term demand drivers intact Demand outlook seems to improve…
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