Mermaid Marine wins vessel operator contract

Fremantle-based Mermaid Marine Australia has been awarded a contract from an undisclosed party for the operation and management of the accommodation vessel Silja Europa for an undisclosed amount.

The 202-metre cruise ferry, which has been operating as a leisure cruiser between Finland and Estonia until recently, will provide for about 1,400 jobs including locally hired crew, and is expected to generate about $105 million over the 12-month contract.

“This contract is an example of the broad and innovative marine solutions which MMA can provide to its clients,” Mermaid Marine managing director Jeff Weber said.

Mermaid Marine recently reported a fall in full-year profit by 3 per cent, down to $53.9 million on the back of acquisition costs.

It bought Singapore-based marine services provider Jaya Holdings for $550 million cash in February.

Mermaid Marine’s share price rose 2 per cent to $2.24 per share at 2pm.