Marine Link
Friday, March 29, 2024
SUBSCRIBE

Deep Sea Supply Asa News

25 Jul 2005

Tidewater to Sell Six AHTS'

Tidewater announced the pending sale of six of its KMAR 404 class of Anchor Handling Towing Supply vessels to Deep Sea Supply ASA for a total cash price of $188 million. All conditions precedent to close, including the receipt by Tidewater of a non-refundable 10% deposit and the deposit by the purchaser of the balance of the purchase price into an escrow account, have been completed and the transaction is expected to close shortly. The culmination of this transaction will result in an approximate $65.9 million pre-tax financial gain, or approximately $42.8 million after tax, or $.74 per common share. The transaction will result in an approximate $112 million taxable gain, but no cash taxes will be due because of the availability of net operating loss carryforwards.

25 Oct 2006

Tidewater Reports 2Q Results

Tidewater Inc. announced second quarter net earnings for the period ended September 30, 2006, of $104.2 million, or $1.86 per common share, on revenues of $274.0 million. For the same quarter last year, net earnings were $82.2 million, or $1.42 per common share, on revenues of $204.4 million. The immediately preceding quarter ended June 30, 2006, had net earnings of $71.4 million, or $1.23 per common share, on revenues of $269.8 million. Included in the current quarter's net earnings is a gain of $28.2 million ($17.2 million after tax, or $0.31 per common share) related to the August 2006 sale of 11 of the company's offshore tug vessels to Crosby Marine Transportation, LLC for a total cash price of $34.8 million.

26 Apr 2006

Deep Sea Supply Awarded Contracts

Deep Sea Supply ASA has been awarded medium term charter contracts for two of its AHTS vessels the Sea Lynx and the Amadon Tide in North Sea and West Africa. Total value of contracts is $13m The company will transfer the vessel McNee Tide (and rename the vessel Sea Wolf) from West Africa to the currently very strong North Sea spot market. The vessel Sea Lynx, operating in the North Sea, has been awarded a 2 well option 1 well contract to Island Oil & Gas Ltd. offshore Ireland. Expected duration is 60 - 90 days. Amadon Tide (to be renamed Sea Bear), operating in West Africa has been awarded a contract to Adoon Pte. Ltd. in Nigeria from 1st May 2006 with expected duration 67-95 days.