Mermaid Maritime units bag projects worth US$265m in total  

SUBSEA-services provider Mermaid Maritime’s subsidiaries in Thailand, the Middle East and the UK have been awarded multiple project valued at US$265 million in total, the company said in a bourse filing on Tuesday (Jul 19).

Barring unforeseen circumstances, these projects are expected to contribute positively to Mermaid Maritime’s earnings per share and net tangible assets holdings for the fiscal year ending Dec 31 and beyond. 

These projects are in areas such as cable-laying installation, inspection, repair and maintenance and decommissioning. Work on them has already started; they are slated for completion in late 2025, subject to certain options, said the group. 

“We would like to thank our clients for expressing their ongoing faith in Mermaid with these significant awards. They represent solid growth for us in all segments, and serve specifically to auger a solid base for Mermaid’s continued success,” said group chief executive Chalermchai Mahagistsiri. 

Shares of Mermaid Maritime closed on Tuesday (Jul 19) at S$0.073, down 2.7 per cent or S$0.002.