Mermaid offloads old unit

Mermaid Maritime has sold its 1,262-dwt sub-sea utility vessel Mermaid Responder (built 1983) for $2.5m as it looks to clear out its older tonnage.

The vessel has been sold to Dubai-based Dulam International and was delivered to the new owners on 12 March 2010, the company said.

Mermaid said the price paid was within the fair market value as assessed by London shipbroker Kennedy Marr Ltd.

Over the past several years a sizeable part of Mermaid Offshore Services’ revenues have been earned by its two existing DP2 DSVs the 3,020-dwt Mermaid Commander (built 1987) and the 3,135-gt Team Siam (built 2002)

“Both vessels, due to their higher specification and specialized capabilities, earned higher day rates and achieved higher utilization rates compared to our other sub-sea vessels,” Mermaid said.

In 2010, Mermaid is due to double the size of its DP2 DSV fleet through the introduction of another two newbuild DP2 DSVs.

As part of this ongoing fleet renewal and upgrade program Mermaid said it has taken the opportunity to dispose of one of its three sub-sea utility vessels.

Last month Mermaid won a three year contract from US oil company Chevron for call-out sub-sea services in Thailand.

Mermaid’s said both its remaining sub-sea vessels – the Mermaid Supporter and the Mermaid Performer (both built 1982) – would be utilized for the first year of this contract.

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