Tidewater and GulfMark Announce Merger
Tidewater Inc. and GulfMark Offshore, Inc. announced Monday that the boards of directors of both companies have unanimously approved a definitive agreement to combine the two companies, creating the industry’s largest owner of offshore support vessels and continuing…
Tidewater Names Rynd President, CEO
Tidewater Inc. (NYSE: TDW) appointed John T. Rynd as the company's new President and CEO and a member of the Board of Directors effective March 5. He replaces Larry T. Rigdon who has served as interim President and Chief Executive Officer since October of 2017.
Rigdon Named Interim CEO at Tidewater
Larry T. Rigdon will serve as interim president and chief executive officer (CEO) of Tidewater Inc. while a search committee seeks a permanent successor to Jeffrey M. Platt, who has elected to retire from his role as director, president and CEO of offshore service vessels (OSV) owner and operator effective October 15…
Tidewater Reports Loss in 4Q
Tidewater Inc. reported today a fourth quarter net loss for the period ended March 31, 2015, of $9.1 million, or $0.19 per common share, on revenues of $324.8 million. For fiscal year ended March 31, 2015, the company's net loss was $65.2 million, or $1.34 per common share…
Tidewater Declares Quarterly Dividend
Tidewater Inc. announced that its Board of Directors declared on May 14, 2015, a quarterly cash dividend of $0.25 per share of common stock payable June 15, 2015, to shareholders of record on June 5, 2015. Tidewater also announced today that its Board of Directors…
New Subsea Company UIS Launched at OTC
A new subsea company was launched at OTC in Houston Monday. Underwater Integrity Solutions (UIS), headquartered in Houston, is an independent company focused on underwater integrity, production assurance and life extension for subsea fields. HitecVision, the leading European private equity oil and gas investor…
Energy Sector Volatility Affects Middle Market M&A Activity
Market volatility for the petroleum sector provides a backdrop to an evolving Merger & Acquisitions environment for the Offshore Sector. In the 3Q edition of Maritime Professional, this series of articles examined the overall evolution of maritime and offshore M&A activity since 2010…
Tidewater Net Earnings for 2Q 2015 Robust
Tidewater Inc. reported today its second quarter net earnings for the period ended September 30, 2014, of $60.9 million, or $1.22 per common share, on revenues of $397.5 million. For the same quarter last year, net earnings were $54.2 million, or $1.09 per common share, on revenues of $367.9 million.
Wärtsilä Wins Another Design Contract for Arctic Operations
A second confirmed design contract for Wärtsilä's new series of arctic platform supply vessels has been signed. This latest order is for a multi-purpose platform supply vessel (MPSV) being built by Tersan Shipyard in Turkey on behalf of U.S.- based Tidewater Inc…
Tidewater 1Q Results For Fiscal 2015
Tidewater Inc. announced today first quarter net earnings for the period ended June 30, 2014, of $43.7 million, or $0.88 per common share, on revenues of $385.7 million. For the same quarter last year, net earnings were $30.1 million, or $0.61 per common share, on revenues of $334.1 million.
High-cost Australia May Miss LNG Expansion
Stung by soaring costs, the gas industry paints a gloomy outlook for new liquefied natural gas (LNG) projects in Australia, putting at risk $180 billion of developments from 2018 onwards. While Australia enjoys political stability and is close to Asian customers…
