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Mermaid Maritime sinks into the red; posts 3Q losses of $2.8 mil

Samantha Chiew
Samantha Chiew11/13/2017 07:34 PM GMT+08  • 1 min read
Mermaid Maritime sinks into the red; posts 3Q losses of $2.8 mil
SINGAPORE (Nov 13): Mermaid Maritime recorded a loss in 3Q17 of US$2.04 million ($2.77 million), compared to earnings of US$7.49 million in 3Q16.
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SINGAPORE (Nov 13): Mermaid Maritime recorded a loss in 3Q17 of US$2.04 million ($2.77 million), compared to earnings of US$7.49 million in 3Q16.

Revenue for the quarter came in at US$30.6 million, 41.2% less than US$52.1 million a year ago, due to a decrease in revenues from services.

Total expenses were 26.9% lower at US$34.0 million from US$46.5 million last year.

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