Mermaid Maritime Public Company says wholly-owned subsidiary Mermaid Offshore Services (MOS), the provider of subâ€sea engineering services to the offshore oil and gas industry, has secured a contract providing Remote Operated Vehicle (ROV) services for a major oil and gas operator in the Sakhalin region for US$2.8 million ($3.9 million).
Posts Tagged ‘maritime’
Mermaid Maritime unit secures $4m contract to provide ROV services in Sakhalin
June 4th, 2010 |
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Mermaid Maritime +4.1%; suited for Chevron: UOB
June 4th, 2010 |
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Mermaid Maritime (DU4.SG) +3.1% at $0.51 as drilling group bags US$24.5 million ($34.5 million) contract to service repeat customer Chevron in Indonesia, according to Dow Jones.
Mermaid Maritime unit wins $34.4m drilling contract from Chevron Indonesia
June 3rd, 2010 |
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Mermaid Maritime Public says subsidiary MTRâ€2 Ltd has secured a contract award with Chevron Indonesia to provide drilling services using the tender drilling rig MTRâ€2 in Chevron’s offshore oil and gas fields in Indonesia.
Rickmers Maritime upgraded to hold
April 28th, 2010 |
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DBS Vickers Securities in an April 27 research report says: “RMT is required to pay US$64 million penalty to parent Rickmers Group to free itself of orderbook obligations. Lender banks have agreed to convert the US$130 million top-up facility to a 5-year amortising loan and waive value-to-loan covenants for a period of 3 years.
Rickmers Maritime to pay out 1Q DPU of 0.57 US cents
April 26th, 2010 |
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Rickmers Maritime says it will distribute 0.57 US cents (0.78 cents) per unit to unitholders for the first quarter ended 31 March 2010 (1Q2010) on 25 May 2010. The DPU represents 13% of income available for distribution which fell 8% to US$17.93 million.
Mermaid Maritime started at ‘outperform’ by CIMB
April 21st, 2010 |
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Mermaid Maritime (DU4.SG) has been initiated at “outperform” by CIMB with $1 target price; target based on 12x 2011 P/E (5-year peer average).
Yangzijiang says not hit by Rickmers Maritime (corrected story from March 24)
March 26th, 2010 |
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Yangzijiang Shipbuilding Holdings, the China-based shipbuilder, said it is “not affected” by financial difficulties at Rickmers Maritime Singapore as ships ordered by Rickmers’ German parent haven’t been cancelled, reported Bloomberg.
March 24: Keppel, Hock Lian Seng, China Hu An, Rickmers Maritime, Wee Hur
March 24th, 2010 |
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Singapore’s Straits Times Index increased 0.6% to 2,905.66 at the close yesterday. Shares on the measure trade at 15.2 times estimated earnings, compared with about 17.5 times at the start of 2010. Stocks are set to gain on Wednesday, as US shares rallied last night on data suggesting the troubled US housing market is near the bottom of the cycle. Here are a few stocks and factor to watch today, says The Edge Singapore:
Rickmers Maritime charters out Kaethe C. Rickmers
March 23rd, 2010 |
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Rickmers Maritime trust says it has chartered out M.V. Kaethe C. Rickmers, a 5,060 TEU containership, on a 12-month fixed-rate time-charter to Chilean carrier, Compañía Sudamericana de Vapores (CSAV). The charter is expected to start before the end of March, immediately after the vessel’s first scheduled dry-docking.
Mermaid Maritime units bags $15m subsea services contract with Chevron in Gulf of Thailand
February 25th, 2010 |
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Mermaid Maritime says wholly-owned subsidiary Mermaid Offshore Services, the provider of subâ€sea engineering services to the offshore oil and gas industry, has secured a three-year contract worth US$15 million ($21 million) to provide Chevron with call-out turnkey diving and remotely operate vehicle (ROV) services and turnkey saturation diving vessel services to support its oil & gas offshore facilities and offshore fields in the Gulf of Thailand.
Mermaid Maritime Public Co rated buy
February 17th, 2010 |
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DBS Vickers Securities in a Feb 17 research report says: “Revenue of Bt1.1 billion, while down 32% y-o-y, was in line given the expected weak utilisation rates on its subsea and drilling fleet. Mermaid has net cash of Bt753.5 million, following its Bt3.7 billion rights issue in Nov 2009.
Limited Rickmers Maritime payout visibility, says DBS Vickers
February 9th, 2010 |
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Visibility on Rickmers Maritime Trust’s (B1ZU.SG) future distribution payouts remains extremely limited as vessel owner’s debt problems look unlikely to be resolved any time soon, says DBS Vickers.
The broker cites significant near-term liquidity risk as Rickmers Maritime Trust has US$130 million ($185 million) loan due in April which company still struggling to refinance.
Rickmers Maritime gains 4.1% but debt solution may cost investors, says OCBC
February 9th, 2010 |
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Rickmers Maritime Trust (B1ZU.SG) gained 4.1% to 38.5 cents following improvement in core 4Q09 operations, although thin volume suggests investors generally still wary of company’s financial health, considering maturity of US$130 million ($185 million) loan in April which Rickmers hasn’t been able to refinance as yet.
“While it is quite possible that RMT manages to resolve its debt and order book concerns, we continue to believe such a resolution may come at the expense of unit holders’ interests, for instance if RMT raises funds through a dilutive private placement,” says OCBC Investment Research, which has a “sell” call with 18 cents target.
Rickmers Maritime posts 112% rise in 4Q net profit to $21.7m
February 8th, 2010 |
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Shipping trust Rickmers Maritime says for the quarter ended 31 December 2009 (4Q2009), charter revenue registered an improvement of 29% to US$38.13 million ($54.2 million), compared with US$29.56 million for the same period last year.
Rickmers Maritime will distribute 0.57 US cents per unit for 4Q2009, representing a payout of 14% of income available for distribution. Total distribution for the year will amount to US$16.57 million, which represents 22% of income available for distribution.
Mermaid Maritime unit, KD Marine join forces to provide sub-sea services in Europe with Mermaid …
January 8th, 2010 |
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Mermaid Maritime Public Company, the offshore marine services and support company based in Thailand, says wholly-owned subsidiary Mermaid Offshore Services and KD Marine of Aberdeen have have agreed to cooperate to provide saturation, air diving, daughter craft and remotely-operated vehicle (ROV) services from the dive support vessel (DSV) Mermaid Endurer in Europe.
Somali pirates seize UK-flagged tanker
December 29th, 2009 |
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A maritime watchdog says Somali pirates have hijacked a UK-flagged chemical tanker in the Gulf of Aden. Noel Choong of the International Maritime Bureau says the St James Park tanker sent a distress message late Monday, seeking help from pirate attacks. He says the distress call was
Mermaid Maritime takes delivery of ROV support vessel Mermaid Sapphire
December 1st, 2009 |
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Mermaid Maritime Public Company says unit Mermaid Offshore Services (MOS), a provider of sub-sea engineering services to the offshore oil and gas industry, has taken delivery of Remotely Operated Vehicle (ROV) support vessel M.V. Mermaid Sapphire yesterday from its shipbuilder Jaya Shipbuilding & Engineering.
Mermaid Maritime says the addition of M.V. Mermaid Sapphire expands MOS’s sub-sea fleet capacity to seven vessels. MOS also expects to take delivery of another two newbuild Dive Support Vessels (DSVs), the M.V. Mermaid Asiana and M.V. Mermaid Endurer by the first calendar quarter of 2010.
Mermaid Maritime Public Co rated buy
December 1st, 2009 |
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DBS Vickers Securities in a Nov 30 research report says: “Mermaid reported headline net profit of Bt714.5 million (-38% y-o-y) on revenue of Bt5.2 billion (-1% y-o-y). An improved performance from the drilling division was offset by weak utilisation on its subsea fleet, leading to a flat y-o-y performance at the EBIT level.