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Prosafe and Cosco extend flotels delivery

Semisub accommodation vessel owner Prosafe has agreed with China’s Cosco Shipping to extend the delivery of two newbuild fotel units, Safe Nova and Safe Vega, under the agreement struck back in August 2018.

The initial deal between Prosafe and Cosco allowed for flexible delivery and long-term financing for the flotels, with deliveries within three years from the agreement, plus a one-year option for one unit and a five-year delivery timeframe for the other.

“As part of entering into a global agreement (deed) with Cosco Shipping (Qidong) Offshore Co. Ltd which forms part of the recently completed financial restructuring, Prosafe and Cosco have agreed to extend delivery flexibility relating to the Safe Nova and Safe Vega,” Prosafe said in a release.

The company, which has recently been successful in two accommodation vessel biddings with Brazil’s state-run oil giant Petrobras, said it intends to take the new vessels to the market once contract opportunities materialise with the Brazil market being the most likely given the expected next round of tenders. “In the meantime, Prosafe is marketing the vessels globally, although we have no financial obligations until delivery of the vessels,” the company added.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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