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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Stranded Virginia Beach Bulker Salvage Plan Set

The Coast Guard advises it is in the final stages of reviewing a salvage plan that is scheduled to begin Friday morning to move the 751-foot bulk carrier, 'Ornak',

Two Marine Engineers Join Specialists EBDG

Naval architecture, marine engineering & production support service providers Elliott Bay Design Group LLC (EBDG) apprise that they have appointed marine engineers

Inchcape Shipping Services Opens in Venezuela

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has expanded its network in Central and South America with the opening of ISS Venezuela in Puerto La Cruz,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1113 sec (9 req/sec)