International Markets Keep Tidewater Earnings Strong

Wednesday, October 31, 2007
New Orleans-based Tidewater Inc. reported its second quarter earnings recently, citing improving rental rates throughout international markets. During the quarter that ended Sept. 30, Tidewater posted net earnings of $86.5m, or $1.56 per share. In the same period a year ago, the company reported net earnings of $104.2m, or $1.86 per share. The higher earnings a year ago were boosted by the sale of 11 vessels. Tidewater officials said improving rental rates are keeping the company on a growth track now. “This trend should be a positive for Tidewater’s outlook, because over 85 percent of our revenues come from international markets,” said Dean Taylor, the company’s chairman and CEO. The average daily rental rate for the company’s fleet was $10,064, up 2 percent from the first quarter of this year. Tidewater owns the largest fleet of vessels serving the offshore energy sector and currently has 50 vessels under construction, collectively valued at about $851m.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

PSA Starts Expansion Work on 2m teu Panama Terminal

Singapore-based port operator PSA Panama International Terminal (PSA Panama) has started a USD 400 million expansion of its container terminal located on the west bank of the Panama Canal Pacific.

Long Beach Picketers Not Striking -Port CEO

Port of Long Beach CEO Jon Slangerup issued a statement addressing the status of picketing truckers at the harbor, pointing out that the demonstration is not a strike.

E-Procurement Streamlined via the Cloud

Marine Procurement Solutions (MPS) has built an electronic platform that aims to enhance the purchasing cycle for the maritime industry. MPS provides software,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1329 sec (8 req/sec)