Tidewater Announces Expanded Investigation

Friday, October 05, 2007
Tidewater Inc. has previously announced that the Audit Committee of its Board of Directors had engaged special counsel to conduct an internal investigation into the legality, under the Foreign Corrupt Practices Act (FCPA), of its Nigerian affiliate's reimbursement of certain payments made by a third party agent to procure temporary importation permits and other authorizations necessary for Tidewater's vessels and crews to operate in Nigerian waters, as well as to review certain practices and transactions in other jurisdictions to determine whether an expansion of the original scope of the investigation was warranted. The Audit Committee has now determined that other aspects of the company's international operations merit a more intensive FCPA review and, accordingly, the scope of the investigation has been expanded to include the review of the company's use in certain markets of third party marketing and other agents, and immigration and customs practices of the company in other countries. Tidewater Inc. owns 454 vessels, the world's largest fleet of vessels serving the global offshore energy industry.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.1286 sec (8 req/sec)