Oslo, 10-11 September 2014 Pareto Oil & Offshore Conference Company Presentation
Agenda Recent developments Projects Outlook Appendix 3
Recent developments Contract signed for provision of Safe Scandinavia as tender support vessel (TSV) for Statoil New build projects progressing well First vessel Safe Boreas to start mobilisation to Norway in Q4 2014 Positive…
Agenda Recent developments Projects Outlook Appendix 5
Safe Boreas Mechanical completion and commissioning ongoing Mobilisation to Norway to commence in Q4 14 First contract for Lundin at the Edvard Grieg field in Norway Contract commencement scheduled for late April/early May…
Safe Zephyrus Launch and docking took place Financial status Q2 14 USDm Book value o.b. 72 in June Book value c.b. 79 Accommodation blocks lifted in Capitalised in quarter 7 place in August Estimated total cost 350 Ready for…
Safe Notos and Safe Eurus Strong capabilities The most advanced and flexible vessels for worldwide operations excluding Norway Number 3 and 4 in a series of Gusto MSC Ocean 500 units built by Cosco Source: Gusto MSC Ready for…
State of the art North Sea fleet Safe Boreas new build Safe Zephyrus new build Safe Notos new build Safe Eurus new build Safe Scandinavia life extension in 2014 (20 years) Safe Caledonia life extension in 2013 (20 years) Regalia…
Agenda Recent developments Projects Outlook Appendix 10
Clear market leader in the high-end segment No. of accommodation semis by owner Overview of incoming vessels 2012-2016 34 32 POSH 30 Jasper 28 26 OOS POSH; 2 24 Axis Off. 22 20 Jasper; 1 Prosafe; 4 ETESCO 18 16 FOE 14 OOS; 2 COSL 12…
Vessel motion characteristics DP vessels See appendix and latest issue of the Prosafe Now magazine (can be found at www.prosafe.com) for more details Source: Prosafe estimates based on available technical specifications 12
Fragmented Brazilian market North Sea Brazil 12 12 11 11 10 Total no. of 10 vessels 9 9 8 8 Total no. of vessels Total no. of 7 7 Total no. of owners 6 6 vessels 5 5 4 4 3 Total no. of Total no. of 3 owners owners Total no.…
North Sea increased short-term uncertainty Short-to-medium term North Sea accommodation demand index More uncertain demand situation 120 due to reduced spending by oil 112 109 106 companies 110 101100 103 99 100 100 100 95…
North Sea day rates (time charter) 15
Mexico high activity level High activity level in shallow waters evidenced by an increasing number of drilling jack-ups under contract Interesting potential also in other shallow water areas besides Cantarell Energy reform has…
Mexico day rates (bareboat) 17
Brazil continued demand growth Positive demand outlook High activity in the Campos basin Primarily maintenance requirements Santos basin opportunities Operators other than Petrobras showing interest in accommodation vessels…
Rest of the world interesting opportunities Australia Some demand 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 Some…
Rest of the World day rates (time charter) 20
High contract visibility 21
Robust contract backlog Contract backlog Status end Q2 14 2 500 Firm contracts USD 1,541m + Options (1) USD 878m = Total USD 2,206m 2 000 Options Letter of Intent Firm contracts 2014 USD million 1 500 13 13 % %…
Dividend Declared an interim dividend equivalent to USD 0.16 per share The shares will trade ex- dividend on 27 August The dividend will be paid in the form of NOK 0.98 per share on 10 September Based on a more uncertain…
Summary Record high order backlog New build projects progressing well Increased uncertainty related to demand in the short term Long-term demand drivers remain intact Prosafe well placed to enhance the leading position…
Agenda Recent developments Projects Outlook Appendix 25
Interest-bearing debt portfolio Loan Commitment Maturity Margin USD 1100 million credit facility (2011-17) USD 723 million Q3 2017 187.5 bps USD 420 million credit facility (2012-17) USD 420 million Q4 2017 295 bps USD 288 million…
Vessel motion characteristics Six degrees of freedom refers to the freedom of movement of a rigid body in a three-dimensional space The body is free to move (translation) along three axes Surge (forward/backward or forward/astern)…
Vessel motion characteristics Gangway connecting to a fixed target Connect the gangway Maintain position Accommodation vessel should move as little as possible Gangway connecting to a moving target Connect the gangway Follow target…
Loading...
