Mermaid Maritime posts operating losses in Q2 2026 due to lower T&I and decommissioning activity

Outlook

Brent crude oil prices increased sharply during Q2 2026, as disruption to Middle East production and constraints on flows through the Strait of Hormuz tightened global supply. Prices eased as tanker traffic and regional production partially recovered in June, although renewed geopolitical tensions continue to create uncertainty.

Upstream investment remains selective, with operators maintaining production reliability, operational efficiency and sustaining output from existing assets. These priorities support demand for Mermaid’s services in IMR, infrastructure life extension, subsea intervention and decommissioning.

Mermaid’s orderbook as at June 30, 2026, included projects across the Middle East, ASEAN, the North Sea and Africa, with contract durations extending through FY2036. The company said this geographic and service-line diversification provides exposure to opportunities throughout the offshore asset lifecycle, from installation to inspection, maintenance, life extension and decommissioning.