On Friday 22nd April Tidewater Inc. announced the completion of its purchase of Swire Pacific Offshore Holdings Ltd., a subsidiary of Swire Pacific Ltd., for approximately $190 million after the sale was announced last 9th March. The deal will allow Tidewater to add SPO’s fleet of 50 OSVs to its own, creating one of the world’s largest OSV fleets. Part of Swire Pacific Limited (SPO) has a fleet of 29 anchor handling tug supply (AHTS) vessels and 21 platform supply vessels (PSVs).
PACIFIC BANNER and PACIFIC BLADE engaged with CASTORO SEI back to 2004.
Established in 1975, Singapore based Swire Pacific Offshore owns and operates a diverse fleet of over 50 offshore support vessels servicing the energy industry in major offshore production and exploration regions.
PACIFIC WIZARD towing the jack up oil rig WILFORCE assisted by BOURBON LIBERTY 204 back to 9th December, 2009.
The vessels to be incorporated into Tidewater include 18 large PSVs and 10 large AHTSs, with the age profile of the large PSVs improving by 0.6 years while the large AHTSs improve by 2.7 years.
PACIFIC VICTORY drydocked at Palumbo Malta Shipyard in 2010.
This deal will enable Tidewater to expand its presence in West Africa, as well as the Southeast Asia region. The company aims to target up to $45m in annual run rate cost synergies following the deal’s conclusion.
PACIFIC DUCHESS entering Grand Harbour, Malta back to 24th November, 2014 to pick up a semi submersible drilling rig (ssdr) from Palumbo Malta Shipyard Ltd.
The D Class vessels (Class of 8) were built to Clean Class Design, SPS 2008, Ice C notation and equipped with a 500/400-tonne anchor handling, towing and secondary RRM Brattvaag winches powered to support the latest generation semi-submersible rigs operating in harsh deep water environments. The D Class vessels have sufficient cargo capacity and clear deck space for a wide range of other offshore applications including but not limited to ROV mezzanine installations for ROV work, and oversize offshore equipment.
Leaving Maltese Territorial Waters after hooking up the ssdr ATWOOD SOUTHERN CROSS from off Grand Harbour (ogh).
Tidewater also claims that it will complete the deal with a strong balance sheet, comprising nearly $110m in cash on hand. The deal has secured approval from the Tidewater board and is anticipated to complete in the second quarter of the year.
PACIFIC DOVE assisted by MAERSK TRADER towing the 268 metres Floating Production Storage and Offloading (FPSO) vessel FIRENZE FPSO at Augusta, Sicily back to December 2018.
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Published – Sunday 1st May, 2022.