AsiaFinance and InsuranceOffshore

Mermaid Maritime secures new $65 loan to extend financing of DSV pair

Thailand’s Mermaid Maritime Public Company subsidiary Mermaid Subsea Services has secured a $65m loan facility with the Export-Import Bank of Thailand.

The loan is being used to extend the financing of dive support vessels Mermaid Endurer (built 2009) and Mermaid Asiana (2010) for a further five years with the same lender. It will be used to settle the previous credit facility for the two vessels.

Mermaid Maritime currently has eight subsea vessels in its fleet.

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.
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