Prosafe SE Reports Operational Update for December 2025

Prosafe SE, a leading provider of offshore accommodation services and operator of semi-submersible vessels, has published its operational performance update for December 2025, highlighting strong fleet utilisation and significant contract developments across its global operations. The company reported fleet utilisation of 100% for December 2025, demonstrating robust operational efficiency and sustained commercial activity across all vessels.

Overview of Fleet Performance

According to the official update released on 21 January 2026, Prosafe’s entire fleet operated at full capacity throughout December 2025. This achievement underscores the company’s ability to maintain consistent performance in a competitive offshore services market.

The company’s fleet comprises multiple semi-submersible accommodation vessels that provide essential support services for offshore energy installations. These vessels are capable of offering living quarters, workshops, medical facilities, and safe personnel transfer systems that support offshore operators around the world.

Fleet Utilisation and Operational Highlights

In December, Prosafe’s operational activity remained at maximum capacity, with all relevant vessels engaged in active service:

• Safe Eurus, Safe Notos, and Safe Zephyrus continued operations in Brazil, maintaining near-100% commercial uptime throughout the month.
• Safe Caledonia remained fully operational at the Captain Field in the United Kingdom.
• Safe Boreas has been earning full day-rates since mid-December as it prepares for commencement of long-term charter work upon gangway connection in the early part of 2026.

This consistent performance at 100% utilisation reinforces Prosafe’s operational discipline and ability to meet client needs in diverse offshore environments.

Detailed Vessel Operations

Operations in Brazil

In Brazil, where offshore energy production plays a crucial role in national energy supply chains, three of Prosafe’s vessels—Safe Eurus, Safe Notos, and Safe Zephyrus—continued to deliver high performance. These vessels are strategically positioned to support oil and gas operators requiring robust offshore accommodation facilities.

The Brazilian offshore sector is known for its deepwater and ultradeepwater fields, which often require specialized vessels capable of operating in challenging conditions. The strong uptime of these vessels indicates stable demand for Prosafe’s services and effective coordination between the company and its offshore clients.

UK Operations — Safe Caledonia

The Safe Caledonia continued to operate with 100% commercial uptime at the Captain Field in the UK North Sea. The vessel’s contract was extended through 22 February 2026 after the charterer, Ithaca Energy, exercised the remaining available contract options.

Maintaining full uptime is especially significant in the North Sea region, where offshore operations are subject to strict safety and environmental standards. Safe Caledonia’s performance reflects both Prosafe’s commitment to excellence and Ithaca Energy’s confidence in the firm’s offshore accommodation solutions.

Looking ahead, Prosafe has received a Letter of Intent (LoI) from Ithaca Energy for a charter extension of six months firm with three months of options beginning in the second quarter of 2027. This LoI provides additional visibility into long-term engagement between the two companies, although the final contract terms remain under negotiation.

Safe Boreas — Preparations for Major Contract

Safe Boreas, another member of the Prosafe fleet, has secured full day-rate earnings from 15 December 2025. While the vessel has not yet commenced its firm contract term, it is positioned to begin its 15-month firm period once the gangway connection is made—a process expected to occur in the first quarter of 2026.

This step marks a major milestone for Safe Boreas and represents the continued demand for Prosafe’s accommodation vessels in long-term offshore projects. It also allows the vessel to immediately generate revenue while preparing for full operational duties.

Management Commentary and Strategic Focus

Reese McNeel, CEO of Prosafe SE, commented on the December results and the company’s broader strategic focus. He highlighted the consistent delivery of “high gangway uptime with safe operations across our fleet” as evidence of Prosafe’s operational strength and alignment with its strategic vision.

McNeel emphasized that with all options for the Safe Caledonia now exercised and the new LoI in place for 2027, Prosafe is actively evaluating opportunities to bridge the gap between current contracts and future work. This includes potential opportunities extending into 2028 and beyond, reflecting the company’s long-term business development efforts.

The CEO also noted that Prosafe remains focused on:

• Capturing ongoing strong market demand by increasing backlog at higher day rates.
• Realizing operational efficiencies and cost reductions.
• Driving revenue and EBITDA growth to enhance long-term value for shareholders.

Industry Context and Market Position

Prosafe SE is among the world’s prominent owners and operators of semi-submersible accommodation vessels. These vessels are designed to provide safe and comfortable living spaces as well as support facilities for offshore oil, gas, and renewable energy operations. Most vessels are equipped with telescopic gangways that allow personnel to transition between offshore platforms and accommodation units safely.

The global offshore accommodation market is sensitive to fluctuations in energy investment, oil prices, and offshore project activity. However, companies like Prosafe have historically maintained resilience by focusing on core markets and optimizing asset deployment. Strong fleet utilisation metrics, like those reported for December 2025, are key indicators of market demand and operational health.

As offshore operators continue to execute maintenance, tie-back, and new field development projects, demand for specialised accommodation vessels remains a critical component of offshore logistics and personnel management. Prosafe’s fleet continues to serve these needs across multiple regions, demonstrating competitive positioning and adaptability to client requirements.

Contract Pipeline and Future Prospects

With the Safe Caledonia contract extended until early 2026 and an LoI in place for 2027, Prosafe has secured visibility into mid-term contract coverage for one of its key assets. Meanwhile, Safe Boreas is poised to begin its firm contract in 2026, further strengthening Prosafe’s revenue forecast.

Looking ahead, the company’s management is exploring opportunities to fill seasonal or transitional gaps between contracts. This may involve negotiating short-term charters or mobilising vessels to meet customer needs in other regions. Prosafe’s strategic planning also considers the potential of expanding its presence in emerging offshore energy sectors, including support for offshore wind installations, maintenance contracts, and other offshore support roles.

Conclusion

Prosafe SE’s operational update for December 2025 highlights a strong finish to the year, with full fleet utilisation and forward-looking contract developments that position the company for continued growth. Full utilisation across all vessels, expanded contracts with existing clients like Ithaca Energy, and strategic planning for future opportunities reflect Prosafe’s commitment to operational excellence and shareholder value.

With a focus on capturing a robust market, enhancing operational efficiency, and strengthening contract backlog, Prosafe SE continues to solidify its role as a leading provider of offshore accommodation and support services in the global energy sector.

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