Mermaid Secures $10M Loan to Repay Subsea Vessel Acquisition

Friday, December 29, 2023

Thai subsea services company Mermaid Maritime has through its subsidiary Mermaid Subsea Oil and Gas Services (MSOGS) secured a loan of up to $10 million for the acquisition of Mermaid Sapphire ROV support vessel.

The loan agreement, SinoPac Capital International, will facilitate the reimbursement of Mermaid’s equity used for the acquisition of the Mermaid Sapphire.

The Mermaid Sapphire is a DP2 remotely operated vehicle (ROV) support vessel equipped with a deepwater work-class ROV, a 23-tonne knuckle boom crane and accommodation for 60 personnel.

The vessel was built in 2009 and is sailing under the flag of Panama.

Categories: Offshore Vessels Industry News Activity Asia ROV & Dive Support

Related Stories

Vard Secures Five Vessels Order for Oil and Gas Sector

Bourbon to Support Oil and Gas Major’s Drilling Campaign Off Namibia

DOF Lands IMR Vessel and Subsea Services Contract in Asia Pacific

Current News

ExxonMobil to Drill for Gas Off Cyprus in January

Mocean Energy Raising Funds to Advance Wave Energy Tech

Seadrill’s Drillships Getting Ready to Start Work Off Brazil

New Alliance Targets CTV Deliveries for Japanese Offshore Market

Subscribe for OE Digital E‑News