Home Subsea Mermaid Maritime gets its hands on multi-million loan to pay back vessel acquisition
December 29, 2023, by
Melisa Cavcic
Mermaid Subsea Oil and Gas Services DMCEST (MSOGS), a completely owned subsidiary of Thailand-headquartered subsea providers Mermaid Maritime, has actually participated in a center arrangement loan with SinoPac Capital International (HK) Limited to obtain approximately $10 million.
This will be utilized for the repayment of the company’s equity utilized for the acquisition of the 2009-built Mermaid Sapphire vessel. With lodging for 60 individuals, this RSV is a DP2 from another location ran car (ROV) assistance vessel geared up 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. participated in a comparable center arrangement with the Export-Import Bank of Thailand for a loan of approximately $5.95 million for the compensation of the business’s equity utilized for the acquisition of the 2005-built Resiliant vessel. This PLB is a lodging and building and construction assistance barge with an eight-point mooring system and a 300-ton primary crane. The BV-classed vessel can accommodate 284 workers.
Just Recently, Mermaid Maritime won a number of brand-new agreements with a combined worth of roughly $485 million in Thailand, the Middle East, Western Sub Sahara, and the UK.
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Thanks to these offers, the company will carry out activities such as cable television laying, subsea pipeline tie-ins, evaluation, repair work, and upkeep (IRM), transport and setup, decommissioning, and associated services, which are prepared to be finished in 2025.
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