Mermaid awarded up to $265m in new contracts

Thailand’s Mermaid Maritime, a subsidiary of Thoresen Thai Agencies (TTA), has announced multiple project awards with a combined value ranging between $175m and $265m.

The Singapore-listed company said its subsidiaries in Thailand, the Middle East and the UK have secured projects that include cable laying installation, inspection, repair and maintenance, decommissioning, and related services. 

Work has already commenced, and is planned, subject to certain options, to complete in late 2025, Mermaid said without disclosing the clients.  

“Barring any unforeseen circumstances, the projects are expected to contribute positively both to Mermaid Group’s earnings per share and to the net tangible assets holdings of the group for the financial year ending December 31, 2022 and beyond,” the company said in a regulatory filing.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
Back to top button