Mermaids Buys Ship From Norwegian KS Fund

Mermaid Maritime, Thoresen Thai’s offshore arm, has completed its acquisition of a newbuilt DP2 dive support vessel from Nemo Subsea IS (“Nemo Subsea”). Nemo Subsea is a Norwegian partnership holding beneficial ownership and interest in the M.V. “Mermaid Asiana”, a dive support vessel that is near its completion at ASL Shipyard in Singapore.

The vessel was initially planned to commence a time charter with Mermaid Maritime through, firstly, a bareboat charter from Nemo Subsea AS (a Norwegian private limited company whose sole purpose is to act as a legal owner of the vessel for the benefit of Nemo Subsea) to Great Cormorant Maritime, a subsidiary of Robert Knutzen Shipholding, and subsequently a three year time charter of the vessel from Cormorant Maritime to Mermaid Maritime. Under this contract structure, Mermaid Maritime had signed a time charter agreement with an embedded purchase option after the third year at a pre-determined price.

This is only an excerpt of Mermaids Buys Ship From Norwegian KS Fund

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.