Mermaid Maritime envisions choppy waters on the horizon as lower revenue dragged down its bottom line.
The Chalermchai Mahagitsiri-led company is seeing signs that the subsea vessel market will be "very tough indeed" for offshore operators in the secondary level such as itself.
This is Mermaid's forecast for tier-two players due to buyer apprehension, despite tier-ones coming slowly out of the downturn in an improving market.
