Tidewater Inc. Not Implicated in Government Sanctions

Monday, June 27, 2011

Tidewater Inc. announced that it is not affiliated with Tidewater Middle East Co. (or any of its affiliates) of Iran, which were the target of new U.S. Government sanctions announced jointly by the U.S. Treasury Department and the U.S. Department of State. The Treasury Department, in announcing the new sanctions on June 23, noted in its press release “Fact Sheet” that “The entity being designated today, Tidewater Middle East Co., is separate and distinct from Tidewater Inc., an international shipping company headquartered in the United States and listed on the New York Stock Exchange as TDW. Today’s sanctions are not imposed on Tidewater Inc.”

Similarly, the Treasury Department’s Office of Foreign Assets Control (OFAC), which administers the sanctions by adding sanctioned parties to their list of Specially Designated Nationals (SDN List), noted in its Recent Actions announcement that “There is no relationship between today’s target, Tidewater Middle East Co., and Tidewater (U.S.)...” The full text of the Treasury’s Fact Sheet and OFAC’s Recent Actions announcements are available at the following links:

http://www.treasury.gov/press-center/press-releases/Pages/tg.aspx

http://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20110623.aspx
 

 

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

People & Company News

Evergreen Upgrades its Intra-Asia Service Network

Evergreen Line announced it will partner with Mariana Express in launching a joint South China- East Malaysia (SEM) Service. The new initiative will give a boost

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Fogal Retires from Zentech After 57 Years in O&G

Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development.

Government Update

Polar Code Afoot

The IMO is on the verge of adopting the Polar Code, something that is important and long overdue. The International Maritime Organization (IMO), a specialized agency of the United Nations,

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

Joe Barton: Lift Oil Export Ban

A senior U.S. Congressman from Texas has come out in full support of the United States lifting the 40-year old ban on crude oil exports, putting him at odds with

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1157 sec (9 req/sec)