Highlights – Q3 2021
Operating status and financial results:
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Utilisation of 70.9% in Q3 (16.4%)
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EBITDA of USD 12.5 million (USD 1.2 million negative)
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Positive cash flow from operations of USD 17.3 million (USD 12.3 million negative)
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Liquidity reserve of USD 107.1 million (USD 164.5 million)
Operations and commercial:
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Good operational and HSE performance
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6 of 7 vessels were on contract in the quarter
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Further options for Safe Boreas, Safe Zephyrus, Safe Caledonia and Safe Concordia were exercised
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Safe Zephyrus was awarded a 10-month contract with up to 4 months options by bp for work in 2022
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Safe Caledonia was awarded a 9-month contract with one 30- day option by TotalEnergies for work in 2022 after the quarter. The vessel will remain in-field over the winter period in between the current and the new contract.
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Ongoing bids in Brazil
Source: ProSafe
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