Mermaid set to release MEO vessel

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 Decem…