Mermaid Maritime and CMIH Sign $436m Contract

Mermaid Maritime, through its subsidiaries, have entered into the following agreements with China Merchants Industry Holdings Co., Ltd. for an aggregate sum of $436 million.

(a) Agreement for the Design, Construction and Completion of a Self-Erected Drilling Tender (Hull No. CMHI (JS)-151-1 and Equipment Set between MTR-3 (Singapore) Pte. Ltd. and China Merchants Industry Holdings Co., Ltd. (Newbuild Tender Rig-1);

(b) Agreement for the Design, Construction and Completion of a Self-Erected Drilling Tender (Hull No. CMHI (JS)-151-2 and Equipment Set between MTR-4 (Singapore) Pte. Ltd. and China Merchants Industry Holdings Co., Ltd. (Newbuild Tender Rig-2);

(c) Agreement for the Design, Construction and Completion of a Multi-Purpose Subsea Dive Support & Construction Vessel (Hull No. CMHI (JS)-152-1) and Equipment Set between Mermaid Offshore Services Pte. Ltd. and China Merchants Industry Holdings Co., Ltd. (Newbuild DSV).

The expected date of delivery of the Newbuild Tender Rig-1 and Newbuild Tender Rig-2 and the equipment set shall be in the first and second quarter of 2016 respectively while the delivery of Newbuild DSV shall be in the third quarter of 2016.

 

Press Release, January 10, 2014

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Posted on January 10, 2014

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