Mermaid cancels dive support vessel construction

Mermaid Offshore Services and China Merchants Industry Holdings have agreed to terminate a construction contract for the DP-2 dive support and construction vessel Mermaid Ausana.

Dec 8th, 2016

Offshore staff

BANGKOK, Thailand – Mermaid Offshore Services and China Merchants Industry Holdings have agreed to terminate a construction contract for the DP-2 dive support and construction vessel Mermaid Ausana.

In May, the two parties had agreed to defer delivery until June 30, 2017.

However, in light of the depressed global oil and gas market, they have mutually entered into a settlement agreement to terminate the contract effective Dec. 6, 2016.

12/08/2016

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