Mermaid Maritime

The proceeds from the loan facility from the Export-Import Bank of Thailand will be used to reimburse the acquisition of a vessel.

The subsea sector's uptick saw Mermaid Maritime's revenue increase 29.5% y-o-y to US$85.2 million during the quarter.

Downstream companies like Mermaid Maritime and Sembcorp Marine have just started to react to the higher oil prices.

SINGAPORE (Dec 31): Shares in Mermaid Maritime dived 9.9% to 13.6 cents by the mid-day break on Tuesday, after the group announced that associate company Asia Offshore Drilling (AOD) has secured contract extensions for two of its three jack-up drilling ri

SINGAPORE (May 30): Mermaid Maritime has disposed of its MTR-1 barge and MTR-2 tender assist drilling rig to Star Matrix for a total of US$3.8 million ($5.1 million).

SINGAPORE (Dec 20): Mermaid Maritime has entered into an agreement to acquire a 49% interest in Cambodian company PTGC Co. for US$19.7 million ($26.5 million).

SINGAPORE (Nov 16): CIMB is maintaining its “reduce” call on Mermaid Maritime with a target price of 14 cents, as the group’s 3Q17 results were largely below expectations.

SINGAPORE (Sept 14): Mermaid Maritime announced Thursday that it has won a long-term submarine cable survey contract in the Middle East worth an estimated US$7 million ($9.4 million). Scheduled to start in 3Q 2017, the work involves the use of a Mermai

SINGAPORE (Sept 6): Mermaid Maritime says its business units have won three subsea contracts in South East Asia and the Middle East with a combined value of US$12 million ($16.2 million).

SINGAPORE (July 21): Mermaid Maritime says it recently won two subsea contracts with a combined estimated value of US$4.6 million ($6.3 million).