Mermaid Marine cans deal on global woe

Offshore Services Outfit Mermaid Marine Australia has binned a deal to buy a new anchor handling tug support vessel slated for delivery this month citing the current poor global economic environment and movement in the Australian Dollar exchange rate.

The company was going to pay $18.2 million for the ship that would form part of its core spot market fleet, however Mermaid feels it is more appropriate to charter vessels to supplement its fleet at this time.
Mermaid said that it expects to be able to attract more vessels to the Australian market at reasonable charter rates due to the global situation.

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