Mermaid Sets Up Subsea Services JV in Vietnam

Mermaid Maritime has established a joint venture (JV) with Tan Cang Offshore Services in Vietnam which will offer subsea services for the country’s offshore sector.

The primary activities of the newly formed JV will be to offer vessel chartering, ROV, transportation and installation support and offshore subsea services

The JV – named Tan Cang Mermaid Subsea Services Company Limited – is 50/50-owned by Mermaid Subsea Services (Thailand) and Tan Cang Offshore Services Joint Stock Company (TCO).

TCO is a professional service provider of offshore vessel chartering, ROV services, ocean towage and salvage, dredging, subsea services, transportation and installation services, and offshore asset decommissioning founded in March 2012.

TCO is a member of Saigon Newport Corporation (SNP), which has existed for more than 30 years in Vietnam.

The company's primary activity is oil-related services and port exploitation. TCO owns and operates large-capacity ships, as well as barges and more than 20 modern machines.

Mermaid Subsea Services (Thailand) Limited is fully-owned subsidiary of Mermaid Maritime, offering subsea services to the offshore industry.