Topaz sells vessel for $29.5 million

Marine services contractor sells diving support barge to Thai company

Topaz Energy and Marine CEO, Fazel A. Fazelbhoy.
Topaz Energy and Marine CEO, Fazel A. Fazelbhoy.

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The Dubai-based Topaz Energy and Marine has announced that it is to sell its DP2 Diving Support Maintenance Barge, ‘TEAM Siam’, to Mermaid Offshore Services of Thailand for US$29.5 million.

In a statement Topaz said that the sale was part of ongoing fleet upgrade programme towards new tonnage and a move towards more deepwater assets, closely aligned with its long-term corporate strategy.

“Topaz received a compelling offer from Mermaid because they see value in the vessel; it’s a win-win for both sides. To Topaz the sale represents a good opportunity to book a capital gain and redeploy cash on new and modern deepwater assets in line with our strategic plan,” Fazel A. Fazelbhoy, CEO at Topaz said.

The vessel has been on charter to Mermaid Offshore for over four years.



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