• 2019 October 29 14:11

    Mermaid secures 3-year contract extension for subsea services in the Middle East

    Mermaid Maritime Public Company Limited (“Mermaid”) has announced that its joint-venture company formed between Mermaid and a local offshore services operator has secured a three-year contract extension for offshore inspection, repair and maintenance services with a national upstream oil and gas company in direct continuation to its initial seven-year contract period, whereby Mermaid will continue to provide a suite of diving services using its modern DP2 saturation dive support vessel “Mermaid Asiana” along with remotely operated vehicles, specialized diving equipment and divers.

    Mermaid’s joint venture partner, a reputable offshore and marine services company, will provide other offshore vessel related services and logistics. Mermaid has served this contract since 2012. Mermaid’s portion of the total contract value for the three-year extension period is estimated to be approximately US$ 162 million. The commencement of the three-year extended period shall be initiated in phases with all phases scheduled to commence during the fourth quarter of 2019.

    The contract extension is at lower day rates. Assuming that the contract extension had commenced and had been completed within the most recent financial year (the Company’s last financial year ended 31 December 2018), the contract extension would have had a material adverse effect on the earnings per share of the Company (on a consolidated basis) and a non-material effect on the net tangible assets per share of the Company (on a consolidated basis) for that financial year.




2021 April 23

18:05 WinGD & CSPI collaborate for X40DF engine
17:55 Diana Shipping announces time charter contract for m/v Philadelphia with Classic Maritime
17:26 NOVATEK’s AGM approves 2020 dividends
17:04 Production capacity of Russian ports to grow by 155.93 million tonnes per year between 2021 and 2023
16:58 Damen delivers Multi Cat to Leask Marine in record time
16:45 Grimaldi christened hybrid ro-ro unit Eco Savona at the port of Savona
16:15 South Florida Container Terminal ready for gateway growth
16:00 Sergey Ivanov considers it reasonable to build cruise ships for the Far East and Kamchatka
15:51 Port of Antwerp container throughput up by 0.6% to 2.3% TEUs in Q1 2021
15:31 The Wilhelmsen and thyssenkrupp JV digitize, print, test and deliver a cooling water pipe connector
14:48 35 crab catching ships worth RUB 60 billion to be built in Russia by 2024
14:26 World Maritime University contributes to Second World Ocean Assessment
14:02 A.P. Moller - Maersk’s block train transports COVID-19 antigen self-test kits from China to UK
13:35 Operation of Klaipėda LNG terminal temporarily suspended due to scheduled maintenance works
13:02 Lloyd’s Market Association advices underwriters of poised situation in Ukraine
12:57 North Sea Port posts results for Q1 2021
12:14 BC Ferries marks Earth Day with the launch of its sixth battery electric-hybrid vessel
11:33 FESCO and Globus to develop transportation of containerized timber from Siberia and the Far East to China
11:33 Tsuneishi Shipbuilding receives AiP for its Kamsarmax LNG dual-fuel vessel
10:29 Icebreaker Vladivostok provides assistance at Franz Josef Land and Novaya Zemlya archipelagos in difficult ice conditions
10:10 ICTSI Ecuador unveils special economic zone at the Port of Guayaquil
10:05 Fleet of Rosmorport’s Far Eastern Basin Branch expanded with icebreaker Moskva
09:41 Oil prices show a correction increase
09:22 Baltic Dry Index as of April 22

2021 April 22

18:05 Xeneta launches public Xeneta Shipping Index for short-term market, unlocking daily rate tracking
18:04 Cargo navigation begins on the Upper Volga
17:53 Genco Shipping & Trading to acquire fuel-efficient Ultramax vessel
17:15 Port of Kapellskär cargo volume up to 3000 metric tons in Q1 2021
16:45 Maersk’s Destination Cargo Management program reduces demurrage and detention exposure by 50%
16:23 Pavel Leonov ferry completed its sea trials on the Ladoga Lake
16:05 Rolls-Royce delivers 16-cylinder version of mtu Series 8000 for the first time
15:41 Bunker Weekly Outlook, Week 16, 2021
15:24 ABS publishes analysis of the greenhouse gas footprint of the leading alternative marine fuels
15:04 Samskip enters into new formal agreement with sustainable cargo initiative GoodShipping
14:48 Icebreaker assistance period ends at the port of Ust-Luga
14:31 Plug and Play launches maritime innovation platform in Antwerp
14:13 ABS Consulting and Verifavia Shipping partner to deliver turnkey IHM solution to maritime industry
13:51 Volgotrans successfully completes e-document flow tests
13:35 Icebreaker assistance period ends at the port of Primorsk
13:12 MPA and SMF step up efforts for maritime workforce transformation
12:34 Rosmorport tests e-Navigation system in the seaport of Sabetta
12:30 DNV awards first merchant vessel SILENT-E notation
12:12 Aker Solutions completes first phase of the Hywind Tampen Construction
11:39 Russian Maritime Register of Shipping takes part in NEFTEGAZ 2021
11:17 Wan Hai Lines to launch independent TVT2 service
10:46 Russian Fishery Company starts supplying surimi to the domestic market
10:20 FESCO refinanced its obligations to VTB
09:33 Oil prices decrease as COVID-19 cases grow in India and Japan
09:11 Baltic Dry Index as of April 21
06:57 The first batch of the next generation of electric boats arrives in New York

2021 April 21

18:44 Russian President suggests providing federal infrastructure loans
18:35 MAN Energy Solutions to partner on world’s largest liquid-air energy-storage (LAES) project
18:05 Port of Dampier sets sail with 10-year roadmap
17:35 Port of Amsterdam postpones the implementation date of the Green Award requirement for river cruise ships for a year
17:33 First Candela C-7 hydrofoil delivered to customers on the US East coast
17:15 Maersk launches rail service between Gurugram and APM Terminals Pipavav Port
16:35 Wärtsilä seeks breakthrough in clean propulsion as part of Finnish consortium
16:15 BIMCO asks the IMO to improve the ballast water record book
15:14 Russian container transport giant RUSCON opens its office in the Netherlands
14:41 Shipping bodies call on world leaders to bring forward discussions on global market-based measures