Tidewater Inc
(NYSE: TDW)
58.51
-0.25
-0.43%
-0.25
-0.43%
MORE ON TDW
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Tidewater, Inc. |
| Industry: | Oil & Gas Equipment & Services |
| Employees: | 7,900 |
DESCRIPTION
| Tidewater Inc., a Delaware corporation was incorporated in 1956 and conducts its operations through wholly-owned subsidiaries and joint ventures. The Company provides offshore service vessels and marine support services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels. It provides offshore vessel services in support of all phases of offshore exploration, field development and production, including towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities; offshore construction, ROV operations, and seismic support; and a variety of specialized services such as pipe and cable laying. The size and composition of the company’s offshore service vessel fleet includes vessels that are operated under joint ventures, as well as vessels that have been stacked or withdrawn from service. At March 31, 2013, the company had 328 vessels of which 10 were owned by joint ventures, 51 were stacked and two were withdrawn from service. The Company manages and measures its business performance in four distinct operating segments which are based on its geographical organization: Americas, Asia/Pacific, Middle East/North Africa, and Sub-Saharan Africa & Europe. The average age of the company’s 316 owned or chartered vessel fleet (excluding joint-venture vessels and vessels withdrawn from service) in its fleet at March 31, 2013 is approximately 12.6 years. The average age of 232 newer vessels in the fleet is approximately 6.2 years. The remaining 84 vessels have an average age of 30.1 years. Of the company’s 316 vessels, 84 are deepwater class vessels, 163 are in the non-deepwater towing-supply & supply class vessels, 69 are other vessels classes comprised of crewboats and offshore tugs. The Company is subject to various United States federal, state and local statutes and regulations governing the operation and maintenance of its vessels. |
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