Offshore carrier Tidewater plunges on risk of bankruptcy

The statement from US-based offshore carrier Tidewater that the company is considering filing for bankruptcy protection sent its stock plunging Monday on the New York Stock Exchange.

Photo: Maersk Supply Service

US-based supply carrier Tidewater dives big-time on the New York Stock Exchange after a statement informing that the company considers filing for bankruptcy protection under US Chapter 11 legislation.

Tidewater controls a fleet of several hundred offshore supply vessels operating in the oil industry, but despite protracted negotiations with lenders, the company has been unable to obtain a permanent deal.

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