Mermaid Maritime scraps barge pair

Mermaid Maritime scraps barge pair

Thailand’s Mermaid Maritime has sold barges MTR-1 and MTR-2 to Indian ship recycling firm Star Matrix for $3.8m.

MTR-1 is an accommodation and work over barge, converted in 2010, while MTR-2 is a tender assist drilling rig built in 1981.

Mermaid says that net proceeds from the sale will be $3.7m, which will be made available for working capital.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts