Mermaid Maritime is expanding into the U.S. offshore energy market, establishing a wholly owned corporate presence in Delaware as part of a strategy focused initially on opportunities in the Gulf of America.
The new U.S. entity will serve as the group's operational and contracting platform, enabling it to submit commercial bids, execute client and vendor agreements, engage personnel and support potential future marine asset deployments across its target offshore energy portfolio.
Mermaid Maritime said the expansion is intended to strengthen its position in one of the world's largest offshore service markets, where it sees opportunities linked to offshore oil and gas production, subsea infrastructure, decommissioning activities and offshore energy projects.
The company plans to leverage its experience in subsea engineering, inspection, repair and maintenance, and offshore marine services to pursue opportunities that align with its operational capabilities and capital allocation strategy while diversifying its geographic revenue base.
As part of its market entry strategy, Mermaid Maritime will adopt a phased approach during the initial business development stage, deploying a dedicated business development team to focus on market intelligence and building relationships with regional operators.
According to the company, the incorporation and business development costs will be funded through internal resources and are not expected to have a material impact on net tangible assets per share or earnings per share for the financial year ending Dec. 31, 2026.
Mermaid Maritime added that it will provide further updates as material developments occur in its U.S. market entry strategy, including major tender awards and operational milestones.