Jeff Weber

Fremantle-based marine services company Mermaid Marine Australia has announced a post-tax profit of $9.2 million, doubling its operating earnings in the process.

Fremantle-based oil and gas services company Mermaid Marine Australia Ltd has reported a net profit of $17.9 million for the 2008 financial year, up 43 per cent on the previous corresponding period.

Last night's Vinnies' CEO Sleepout saw 107 chief executives sleeping rough in the name of charity, and none did it tougher than Mermaid Marine boss Jeff Weber.

Executive remuneration is a hot political issue but the controversy does not seem to have slowed growth in pay packets at WA companies.

Five years of WA salary surveys show some chief executives appear to be remarkably well paid relative to the size of their business and the returns they have delivered, while others offer great value for money.

McGrathNicol expands Perth team

Far away from the carnage in the iron ore sector, directors at select Western Australian companies in the gold, oil and gas and engineering sectors are being handsomely rewarded through the exercise of share options and the vesting of performance rights.

Mermaid Marine has announced a $15 million contract with Santos for the oil and gas giant’s Modec floating LNG facility in the Carnarvon Basin.Mermaid said the offshore marine support contract was for a two year term, with three 12 month options to extend.

Beadell Resources managing director Peter Bowler has disposed of 4 million shares on-market to raise $4.1 million.

Mermaid Marine managing director Jeff Weber has picked up $4.5 million worth of the company's shares through the exercise of incentive options.

Mermaid Marine Australia managing director Jeff Weber has picked up just over 1.4 million shares at $3.05 each, or $4.5 million in total, through the exercise of incentive options. The options were approved by shareholders at the company's annual meeting in November 2009.

Mermaid Marine managing director Jeff Weber has sold $5.4 million worth of shares in the company, to fund the exercise of incentive options and the associated tax liabilities.The sale comes four months after he sold $2.4 million worth of shares, for the same stated reason.

Broome Port Authority has secured Royalties for Regions funding for an upgrade that will bolster its ability to compete with Darwin as a supply base for offshore oil and gas projects.

Mermaid Marine Australia has agreed to purchase the subsidiaries of Singapore-based marine services provider Jaya Holdings for $S625 million ($550 million), in an all-cash deal which represents one of the largest acquisitions by a Western Australian company in recent years.

Mermaid Marine Australia has won a contract, worth up to $500 million, to provide support services to Inpex’s Ichthys liquefied natural gas project.

Mermaid Marine Australia managing director Jeff Weber has defended the company’s stance on negotiations with the Maritime Union of Australia, after employees at its Dampier Supply Base said on Friday they would strike for 10 days.

Mermaid Marine Australia has taken a 3.3 per cent fall in profit for the full-year, down to $53.9 million.

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.

Fremantle-based MMA Offshore has announced a lift in interim revenue and profit, but its shares slumped today on a lower dividend and predictions of a weaker second half.

Marine services provider MMA Offshore said it was progressing towards its previously announced $15 million cost savings target, while the company suffers reduced demand and lower fleet utilisation.

MMA Offshore has won a contract to supply its marine logistics and supply base services for Chevron’s operations in the north-west, in a deal worth $100 million.

Marine services business MMA Offshore is predicting a tough year ahead after posting a net loss of $51.3 million for the 2015 financial year, on the back of a $125 million impairment flagged last month.

Marine services company MMA Offshore has won a $50 million contract to provide services to Woodside Petroleum, but says low oil prices are placing significant pressure on market demand, with conditions unlikely to improve during the financial year.

MMA Offshore has reported a dramatic slide in half-year profit as the marine services company faces challenging conditions in the offshore oil and gas industry.

Marine services company MMA Offshore’s net loss has widened to $144 million on the back of a previously flagged impairment and reduced activity in the oil and gas sector.

Marine services company MMA Offshore will sell its Dampier and Broome supply bases to Toll Group for about $53 million to pay off debt, as the company revealed a $323.7 million half-year loss on the back of a large impairment charge.

Offshore oil & gas: The marine logistics sector is yet to significantly rebound from the lower oil prices of the past few years, although positive signs are emerging.

MMA Offshore has posted a $378 million loss for the 2017 financial year on the back of a huge impairment and the halving of revenue from its oil and gas-focused vessel operations.

Struggling marine services company MMA Offshore will raise nearly $100 million to repay debts and repair its balance sheet, despite opposition from major shareholder Halom Investments.

Halom Investments has asked the Takeovers Panel to revise MMA Offshore’s planned $97 million capital raising, claiming the deal is designed to entrench the control held by the incumbent board.

Natalie Teo has replaced Jeremy Robinson as company secretary of Marindi Metals.