Home Subsea Mermaid Maritime gets its hands on multi-million loan to repay vessel acquisition
December 29, 2023,
by
Melisa Cavcic
Mermaid Subsea Oil and Gas Services DMCEST (MSOGS), a wholly owned subsidiary of Thailand-headquartered subsea services provider Mermaid Maritime, has entered into a facility agreement loan with SinoPac Capital International (HK) Limited to borrow up to $10 million.
Mermaid Sapphire; Source: Mermaid Maritime
This will be used for the reimbursement of the firm’s equity used for the acquisition of the 2009-built Mermaid Sapphire vessel. With accommodation for 60 people, this RSV is a DP2 remotely operated vehicle (ROV) support vessel equipped with a deepwater work-class ROV and a 23-ton knuckle boom crane. The vessel is ABS-classed and flies the Panama flag.
At the start of December 2023, Mermaid Maritime’s Mermaid Subsea Services (Thailand) Ltd. entered into a similar facility agreement with the Export-Import Bank of Thailand for a loan of up to $5.95 million for the reimbursement of the company’s equity used for the acquisition of the 2005-built Resiliant vessel. This PLB is an accommodation and construction support barge with an eight-point mooring system and a 300-ton main crane. The BV-classed vessel can accommodate 284 personnel.
Recently, Mermaid Maritime won several new contracts with a combined value of approximately $485 million in Thailand, the Middle East, Western Sub Sahara, and the UK.
Posted: 2 months ago
Thanks to these deals, the firm will undertake activities such as cable laying, subsea pipeline tie-ins, inspection, repair, and maintenance (IRM), transportation and installation, decommissioning, and related services, which are planned to be completed in 2025.
Posted: about 1 month ago
long read
Posted: 26 days ago
Posted: 17 days ago
Posted: 2 months ago
Posted: 17 days ago
Posted: 10 days ago
Posted: 11 days ago
Posted: about 1 month ago
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : OffshoreEnergy – https://www.offshore-energy.biz/mermaid-maritime-gets-its-hands-on-multi-million-loan-to-repay-vessel-acquisition/
