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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,

Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics 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: 0.1978 sec (5 req/sec)