T

Tidewater

www.tdw.com link_icon

Company Research Report: Tidewater Inc.



Company Overview



  • Name: Tidewater Inc.

  • Mission: Tidewater is dedicated to supporting customers globally with the highest level of service using its best assets: its people and vessels. They aim to deliver services with the highest level of operational performance, including safety and compliance with all laws and regulations, respecting the environment and local communities, and providing services in an honest, cost-efficient, profitable, and transparent manner.

  • Founded: Tidewater created the "work boat" industry with its 1956 launch of the Ebb Tide, the world’s first offshore vessel tailor-made to support the offshore oil and gas industry.

  • Key People:

  • President, CEO and Director: Quintin V. Kneen

  • Headquarters: No information is available.

  • Number of Employees: No information is available.

  • Revenue: No information is available.

  • What is the Company Known For: Tidewater owns and operates one of the largest fleets of OSVs (Offshore Support Vessels) in the industry, supporting offshore energy exploration and production activities worldwide with over 60 years of experience.


Products



Services & Fleet



Tidewater offers a comprehensive range of high-quality, cost-effective offshore support services with its large and diverse fleet. Key services include:

  • Platform Supply Vessels (PSVs): Used for the transport and supply of offshore materials.

  • Anchor Handling Towing Supply Vessels (AHTS): Designed for anchor handling, towing, and positioning.

  • Offshore Tugs: Used for towing and other related activities.

  • Specialty Vessels: These include vessels for specialty operations such as pipe laying, cable laying, pollution control, and seismic work.

  • Crew Boats / Fast Support Vessels (FSVs): Used for personnel transport and support.

  • Construction Support: POV and AHTS provide support for offshore construction.

  • Harsh Environment Services: Experience in highly challenging environments like Greenland and the Barents Sea, including vessels compliant with the polar code.


Key Features:



  • Siemens Blue Drive PLUSC™ Technology: Used for variable speed operations of vessel engines, reducing fuel consumption by up to 30%.

  • Hybrid Battery Technology: Implemented in several vessels, reducing NOx & CO2 emissions and fuel consumption while saving on maintenance costs.


Recent Developments



  • Swire Pacific Offshore Acquisition: Tidewater expanded its geographic footprint by acquiring Swire Pacific Offshore, positioning the company to have the largest offshore support vessel fleet worldwide with 203 vessels.

  • Technological Advancements: Implementation of technologies like FuelTrax and enginei for efficient fuel management and investment in alternative fuels including hybrid battery technologies.

  • Sustainability Initiatives: Introduction of a robust environmental management policy ensuring reduced environmental impact, compliance with air quality and waste management laws, and a commitment to responsible environmental stewardship.


Sustainability



Tidewater's sustainability strategy focuses on environmental, social, and governance (ESG) aspects. It includes:

  • Environmental Management: Adopting responsible environmental practices, striving for pollution prevention, and complying with major regulations like the Clean Air Act and MARPOL.

  • Social Commitment: Fostering employee safety and wellness programs, supporting diversity and inclusion, and promoting community betterment through various programs and partnerships.

  • Governance Initiatives: Adhering to corporate governance guidelines and maintaining compliance with international standards for human rights and labor practices.


Partnerships & Initiatives



  • Community Engagement: Tidewater supports multiple non-profits, including the American Cancer Society and the United Way, contributing towards community betterment.

  • Industry Collaborations: Tidewater actively participates in industry associations like the International Marine Contractors Association (IMCA) to promote safety and operational excellence.

  • Health Programs: Collaborates with organizations like the Sailors’ Society to provide holistic wellness programs for seafarers.


Investor Relations



  • Financial Overview: No detailed financial figures provided. Investors are encouraged to consult tidewater’s financial reports and quarterly earnings presentations for updates.

  • Upcoming Events: Tidewater Inc. Q3 2024 Earnings Call scheduled for November 8, 2024.


Note:


For more in-depth details about Tidewater's operations, investor relations, or sustainability initiatives, please refer to their official website or investor relations contact resources.