Joint Venture Formed in Vietnam by Thailand's Mermaid Maritime

Mermaid Maritime of Thailand, through its subsea services division, has formed a joint venture in Vietnam with the local marine services provider, Tan Cang Offshore.

The joint venture, named Tan Cang Mermaid Subsea Services, announced by the Singapore-listed Mermaid Maritime, will specialize in services involving remotely operated vehicles (ROV), as well as offering vessel chartering, transportation, and installation support services.

Ownership of the newly established company will be equally divided, with Mermaid Subsea Services and Tan Cang Offshore each holding a 50% stake.

Tan Cang Offshore, a part of the Saigon Newport Corporation since 2012, operates in the field of offshore vessel chartering and provides a range of offshore and subsea services. This includes operations with ROVs, as well as transportation, installation, and decommissioning services.