Mermaid Marine to rebrand operations

Fremantle-based Mermaid Marine Australia will seek to change its name at the company’s AGM next month, following the acquisition of all subsidiaries of Singapore-listed Jaya Holdings in June.

The company said its existing name was not suitable due to “potential brand confusion with another operator in international markets”, being Singaporean-listed Thai company Mermaid Maritime.

Mermaid Marine will seek shareholder approval to change its name to MMA Offshore.

The rebranding will consolidate the operations of Mermaid Marine, Mermaid Marine Asia and Jaya’s businesses, Offshore Support Services and Offshore Engineering Services, into a single brand.

Mermaid Marine bought Jaya’s subsidiaries for $550 million.

The company said in an announcement it wanted to consolidate the Mermaid Marine and Jaya operations under a single brand that represented the company’s future direction.

It explained that the removal of “Australia” in the company name highlighted its international operations, and noted the addition of “Offshore” denoted its offshore oil and gas operations.  

The company is ranked 17th on the BNiQ list of Public Companies – Industrial, with a total operating revenue of $594.6 million at June 30 this year, up 30.1 per cent from last year.

Mermaid Marine has been subject to attention recently as workers at its Dampier Supply Base announced three separate strikes in as many months, amid continued negotiations around wages and job security.

Mermaid Marine shares closed the day 5.5 cents higher, at $1.895 per share.