Most of Mermaid (and Jaya's) new builds have been PSVs, Subsea and IMR vessels - which are production focused. This has been the general trend in the industry following a boom in AHTS orders 5-10 years ago.
As the offshore rig count continues to fall, both PSVs and AHTSs are grossly over supplied - however Subsea is holding up relatively well.
MRM Price at posting:
22.5¢ Sentiment: None Disclosure: Held
