Tidewater divests more vessels in major fleet clean-up

US-based offshore carrier Tidewater saw its performance taking a dip in the first quarter, with net losses landing at USD 35.5 million. The offshore carrier continued to trim its fleet by selling off vessels.

Photo: PR/Tidewater

US-based offshore company Tidewater faced a rough start to the year as the company's top and bottom line took a hit in the first quarter.

Like many other parts of the offshore industry, Tidewater has been hit hard by the tough market in recent years. This has led the carrier to probe its fleet and dispose of vessels that have been found unprofitable or ill-suited for the carrier's strategy.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Argentine port workers strike for access to Covid-19 vaccines

Nine unions representing Argentine port workers have announced a 24-hour strike in protest against the lack of access to coronavirus vaccines. The strike takes place amidst a new coronavirus outbreak in the country, which is a major dry bulk exporter.

Tradelens hopeful that major Maersk rivals will soon be integrated

Hapag-Lloyd and ONE continues to be absent on the digital platform Tradelens even though they announced they would join two years ago. "We are hopeful that they will be joining very soon," says Head of Tradelens Mike White. Hapag-Lloyd expects to make a decision soon.

Further reading

Related articles

Latest news

See all jobs