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Prosafe doubles its deficit in 2020 to USD 950 million

Hotel rig company Prosafe more than doubled its deficit last year, which is largely attributed to a weak market. The strained company continues to negotiate with its creditors to land a rescue plan, states interim report.

Photo: PR / Prosafe

Prosafe, which charters hotel rigs to the oil industry, ended 2020 with a bottom line loss of USD 950.1 million for the full-year.

As such, Prosafe more than doubled its deficit in 2020 compared to 2019, when the deficit came to USD 399.9 million, reveals the company's interim report for the fourth quarter of 2020.

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