Mermaid Maritime

SINGAPORE (Dec 8): Mermaid Maritime has entered into a mutual agreement with China Merchants Industry Holdings to terminate their construction contract for a dive support and construction vessel in light of the challenging oil and gas market.

SINGAPORE (Dec 5): CIMB is upgrading the offshore and marine sector to “neutral” as it forecasts higher crude oil prices of between US$45 and US$60 per barrel.

SINGAPORE (Nov 30): OCBC Investment Research believes the worst might be over for the oil and gas sector, with less downside risk than a year ago and most of the negatives having been priced in.

SINGAPORE (Nov 17): DBS Group Research is keeping Mermaid Maritime on “hold” with a higher target price of 12 cents, from 9 cents previously, despite lower earnings visibility from a declining order book and an expected fall in profits from its joint

SINGAPORE (Nov 16): Fincantieri S.p.A., the 55.6% shareholder of Vard Holdings, has announced a voluntary conditional cash offer for the remaining shares in Vard at 24 cents, and DBS Group Research recommends shareholders accept the offer.

SINGAPORE (Nov 14): Fincantieri S.p.A., the 55.6% shareholder of Vard Holdings, has announced a voluntary conditional cash offer for the remaining shares in Vard at 24 cents, and DBS Group Research recommends shareholders accept the offer.

SINGAPORE (Oct 7): UOB Kay Hian is maintaining its “underweight” call for the offshore and marine sector citing flat capex from oil majors despite improved sentiment from OPEC cuts.

SINGAPORE (Sept 30): CIMB is maintaining its “underweight” call on the Offshore & Marine sector despite the proposed cut in production by the Organization of Petroleum Exporting Countries (OPEC) announced on Friday.

SINGAPORE (Sept 5): Mermaid Maritime says it has not sold its DP2 multipurpose subsea dive support and construction vessel (DSCV) to Ultra Deep Solutions, contrary to an article published on Sept 1 in the Petrodaily Subsea International Edition.

SINGAPORE (Aug 10): Mermaid Maritime saw 2Q earnings drop by 50.3% to US$7.7 million ($10.3 million) on the back of lower revenue.