Profile: Tidewater Inc (TDW.N)

TDW.N on New York Stock Exchange

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Tidewater Inc., incorporated in 1956, provides offshore supply vessels and marine support services to the offshore energy industry through the operation of marine service vessels. The Company conducts its operations through wholly owned United States and international subsidiaries. The Company 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. As of March 31, 2012, the Company had 342 vessels (of which 10 were owned by joint ventures, 67 were stacked and two were withdrawn from service) servicing the global energy industry. The Company also operates two shipyards, which construct, modify and repair vessels. The shipyards perform both repair work and new construction work for outside customers, as well as the construction, repair and modification of the Company’s own vessels. The Company operates in four segments: Americas, Asia/Pacific, Middle East/North Africa, and Sub-Saharan Africa/Europe. In June 2013, Tidewater Inc , through an undisclosed subsidiary, acquired the entire share capital of Troms Offshore Supply AS.

The Company’s vessels in its United States segment operate primarily in shallow, intermediate and deep waters of the United States Gulf of Mexico. The principal areas of the Company’s operations include the United States Gulf of Mexico, the Persian/Arabian Gulf, and areas offshore Australia, Brazil, China, Egypt, India, Indonesia, Malaysia, Mexico, Thailand, Trinidad and West and East Africa.

Deepwater Vessels

The Deepwater Vessels include platform supply vessels (PSVs) and higher-horsepower (generally greater than 10,000 horsepower) anchor handling towing supply (AHTS) vessels. This vessel class is chartered to customers for use in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs, platforms and other installations. Platform supply vessels, which have cargo capabilities, serve drilling and production facilities and support offshore construction and maintenance work. The anchor handling towing supply vessels are equipped to tow drilling rigs and other marine equipment, as well as to set anchors for the positioning and mooring of drilling rigs. Also included in this vessel class are specialty vessels that can support offshore well stimulation, construction work, subsea services and/or have fire fighting capabilities and/or accommodation facilities. These vessels are available for routine supply and towing services but are outfitted and primarily intended for specialty services. Included in the specialty vessel category is the Company’s one multi-purpose platform supply vessel (MPSV), which is designed for subsea service and construction support activities.

Towing-Supply and Supply Vessels

Towing-Supply and Supply Vessels is the Company’s fleet class by number of vessels. Included in this class are anchor handling towing supply vessels and supply vessels with average horsepower below 10,000 brake horsepower (BHP), and platform supply vessels that are generally less than 230 feet. The vessels in this class perform the same functions and services as their deepwater vessel class counterparts except they are chartered to customers for use in intermediate and shallow waters.

Crewboats and Utility Vessels

Crewboats and utility vessels are chartered to customers for use in transporting personnel and supplies from shore bases to offshore drilling rigs, platforms and other installations. These vessels are also often equipped for oil field security missions in markets where piracy or violence present concerns.

Offshore Tugs

Offshore tugs tow floating drilling rigs; assist in the docking of tankers; tow barges, and assist pipe laying, cable laying and construction barges. It is also used in a variety of other commercial towing operations, including towing barges carrying a variety of bulk cargoes and containerized cargo.

Other Vessels

The Company’s vessels include inshore tugs and production, line-handling and various other special purpose vessels. Inshore tugs, which are operated principally within inland waters, tow drilling rigs to and from their locations and tow barges carrying equipment and materials for use principally in inland waters for drilling and production operations. Barges are either used in conjunction with Company tugs or are chartered to others.

Company Address

Tidewater Inc

Suite 1900, 601 Poydras St
NEW ORLEANS   LA   70130
P: +1504.5681010
F: +1302.6555049

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