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Mermaid set to release MEO vessel

Contract with Pertamina in the cabotage-protected Indonesian waters fails to materialise in time

Singapore

MERMAID Maritime is set to release a charter-in subsea vessel, Nusantara, owned by Miclyn Express Offshore (MEO), after a multi-year contract with Pertamina in the cabotage-protected Indonesian waters failed to materialise in time.

A Mermaid executive confirmed to The Business Times that Nusantara will be released from the remaining years of its original five-year charter agreed with MEO. A decision was made to release the vessel in late December 2015, about one year after Mermaid confirmed...

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