Mermaid Maritime unit to acquire four remotely operated vehicles for $16.5m

The company said the acquisition will continue its provision of turnkey sub-sea engineering services.

Mermaid Maritime’s subsidiary, Mermaid Subsea Services (Thailand) Limited (MSST), has entered a sale and purchase agreement with a Norway company to acquire four newbuild work-class remotely operated vehicles (WROVs) for $16.5m (EUR11m).

The company said the acquisition will continue its provision of turnkey sub-sea engineering services globally.

Argus, a Norway-incorporated company, specialises in developing and manufacturing electric remotely operated vehicle systems, ranging from small inspection vehicles to big heavy WROVs.

Delivery of the four WROVs is scheduled for the third quarter of 2025.

($1=EUR0.66)