Prosafe in cost negotiations on Chinese-built accommodation rigs

Prosafe says the newbuild accommodation semisubmersible Safe Eurus has been placed in a preserved, strategic stacking mode with COSCO (Qidong) Offshore Co. in China.

Offshore staff

LARNACA, CyprusProsafe says the newbuild accommodation semisubmersible Safe Eurus has been placed in a preserved, strategic stacking mode with COSCO (Qidong) Offshore Co. in China.

The company has also assumed control over theSafe Nova and Safe Vega rigs and will negotiate with COSCO and related parties on a workable delivery and commercial solution of these two semis which are nearing completion.

If no agreement results, Prosafe retains the right to claim cancellation on the newbuild contracts due to late delivery, the company says, and to claim a deposit of around $60 million fully secured by Bank of China.

Prosafe has also decided to sell one of its older accommodation rigs, theSafe Lancia, for scrap/recycling.

01/19/2017

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