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.