Tidewater To Build 12 New Vessels For $305M
Tidewater Inc. has signed contracts with two Far East shipyards for the construction of eight vessels as part of Tidewater's new build program announced in January 2000. It has also announced that its subsidiary, Quality Shipyard L.L.C., will build a total of four vessels. The $305 million in new build commitments falls on the heels of Tidewater's recent purchase of eight similar vessels from The Sanko Steamship Co., Ltd. The eight vessels to be built outside the United States will be comprised of five large 280-ft. anchor handling towing supply vessels with greater than 20,000 hp and three 260-ft. platform supply vessels. The four vessels being built at Quality Shipyard will be similar platform supply vessels and will be built to full Jones Act compliance.
Tidewater To Build 12 New Vessels
Tidewater Inc. signed contracts to build a total of 12 new vessels for $305 million, electing to build eight vessels at two Far East shipyards and four at its subsidiary, Quality Shipyard L.L.C. The $305 million in new build commitments - which fulfills its January 2000-announced plan to spend $300 million upgrading its fleet - falls on the heels of Tidewater's recent purchase of eight similar vessels from The Sanko Steamship Co., Ltd. The eight vessels to be built outside the U.S. will be comprised of five large 280-ft. anchor handling towing supply vessels with greater than 20,000 hp and three 260-ft. platform supply vessels. The four vessels being built at Quality Shipyard will be similar platform supply vessels and will be built to full Jones Act compliance.
