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Mermaid Maritime is a global oil services specialist and is listed on the Singapore Stock Exchange as a public limited company. It was founded in 1983. The diversified portfolio of Mermaid Maritime includes remotely-operated vehicles, specialised diving equipment, and drilling and accommodation rigs, as well as subsea vessels, providing drilling and subsea services to major oil and gas companies operating offshore.

Headquartered in Thailand, Mermaid Maritime also covers the regions of Indonesia, Singapore, Qatar and the United Arab Emirates. From 2009 until 2011, investment manager Joey Horn served on the Audit, Compensation and Nomination Committees of Mermaid Maritime as a Non-Executive Director of the company. You can view the current Board of Directors of Mermaid Maritime by clicking on the infographic attachment. As shown in the video attachment, Mermaid Maritime is comprised of two divisions: Mermaid Subsea and Mermaid Drilling

Mermaid Subsea Division

The Subsea division of Mermaid Maritime brings together a full package of subsea solutions in one unified structured unit. The Mermaid Subsea division serves customers internationally; areas covered include South-East Asia, the Mediterranean, China, India, the Middle East, West Africa and the North Sea. Mermaid Subsea offers services ranging from cable and pipe laying to infrastructure installation support, inspection, repair and maintenance, as well as support for remotely-operated vehicles. The company operates 4 specialised dive support vessels along with a further 5 subsea vessels. In addition to this, Mermaid Subsea operates 15 remotely-operated vehicles, 17 air diving systems and 6 saturation diving systems. All vessels and systems can be deployed to any of the above-listed regions.

Mermaid Drilling Division

Mermaid Drilling partners with the Middle East’s Seadrill Ltd to provide accommodation rig services and offshore drilling. Mermaid Drilling owns an accommodation barge, a tender assist drilling rig and 3 premium jack-up drilling rigs of high-specification.

Mermaid Wins Cable Survey Contract

It was announced on the 14th of September that Mermaid Maritime had been awarded a long-term contract for cable survey. The Middle East business unit of Mermaid Maritime will commence the package of work, with an estimated value of $7 million, in 2017’s third quarter. The contract is expected to last for 21 months, with the option to extend for additional rates should further cable inspection work be required. Mermaid Maritime will be deploying equipment including a survey class ROV, along with geophysical survey personnel and a chartered-in vessel.

 On the 6th of September 2017, Mermaid Maritime announced the securing of three new subsea contracts across the Middle East and South-East Asia. Work on each of the projects is scheduled to commence in the third quarter of the year. The estimated combined value of these three contracts stands at $12 million. For the first project in Malaysia, Mermaid Maritime will be deploying the Mermaid Commander, a DP2 saturation diving vessel, along with a Quasar work-class remotely operated vehicle. The project is expected to take 60 days to complete and is focused on inspection, repair and maintenance. The second and third projects in the Middle East will make use of the Mermaid Endurer DP2 DSV to complete a combination of free span correction, survey, and spool-piece tie-in projects.

The work of Mermaid Maritime is customer-focused, with an excellent track record for customer service to date. You can find out more about the core values of Mermaid Maritime in the PDF attachment to this post, along with an overview of the company mission statement.