Mermaid inks 10-year Exim Bank loan

Mermaid Maritime Public Company Limited (“Mermaid”) has signed a 10-year loan agreement for US$110 million with Export-Import Bank of Thailand. M.L. Chandchutha Chandratat, Executive Chairman of Mermaid, revealed that Mermaid would use the new facility to refinance its existing loan for two vessels, M.V. Mermaid Endurer and M.V. Mermaid Asiana. Mermaid expects to strengthen and grow its subsea engineering business while keeping financing costs low.