Mermaid Maritime denies selling Mermaid Commander DSV for demolition

The firm has received interest from potential third parties and is still evaluating its options.

Singapore Exchange- (SGX) listed offshore vessel provider Mermaid Maritime denied selling its Mermaid Commander DSV for demolition to an undisclosed customer, for an undisclosed fee, an announcement revealed.

The firm issued a clarification following a media report on Mermaid Maritime’s supposed divestment based on VesselsValue’s, a maritime and offshore analytics company, data. VesselsValue also estimated that the vessel’s demolition value is around US$1.31m.

“Whilst the Company has received interest from potential third parties in the Vessel, such interests remain inconclusive and subject to further evaluation and approval by Mermaid’s Board of Directors,” the firm stated. “Furthermore, the reported estimated demolition value is considered to be an inaccurate benchmark as it does not reflect the expected value of the Vessel, if sold.”

The Vessel in question, which is equipped with a built in 16-man twin bell saturation diving system complete with a self-propelled hyperbaric lifeboat, has a 60-ton crane and can accommodate up to 90 personnel, the firm said, adding that it has performed diving operations worldwide including offshore Brazil and the North Sea.

Mermaid Maritime is reportedly still evaluating its options with regards to the Vessel and will make an announcement via SGXNet in due course in the event that any material arrangement is eventually entered into with respect to the Vessel.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia