Core Insights - The fleet utilization for October 2025 was reported at 100%, indicating strong operational performance across the vessels [1] - Prosafe's fleet, including Safe Eurus, Safe Notos, and Safe Zephyrus, achieved near 100% commercial uptime in Brazil, while Safe Caledonia maintained 100% uptime in the UK [1][2] - The company has the highest backlog in a decade, with all high-end units contracted into 2027, providing good visibility on future activity and earnings [4] Company Performance - Safe Boreas is preparing for a 15-month firm contract in Australia, with a start-up window between December 10 and December 15, 2025 [2] - The extension of Safe Caledonia's contract into early 2026 validates its capabilities during harsh winter conditions in the North Sea, with expectations for further work in 2026 and 2027 [3] - CEO Reese McNeel emphasized the strong foundation for optimizing the organization and cost base, leveraging a robust global accommodation market, particularly in Brazil [4] Market Outlook - The company is positioned to secure employment for 2027 and beyond, driven by a strong global accommodation market [4] - The operational performance and high backlog suggest a positive outlook for the company's earnings and activity levels in the coming years [4]