One of the warmest winters on record seems to be drawing to a close in Europe, and the North Sea spot market is roaring back. On Friday, the 251 tonnes bollard pull anchor handler Maersk Mariner was spot chartered by Anasuria Operating Company at the princely day rate of £45,000 (US$57,000) for...
tidewater
COLUMN | Lowered expectations: Saudi Arabia’s oil production; Nigeria’s currency; SBM’s whistleblower; Falkland Islands’ FPSO [Offshore Accounts]
The novelist Jodi Picoult once said that, “there are two ways to be happy: improve your reality, or lower your expectations.” Changing the world for the better is hard, but there have been a lot of expectations lowered in the offshore industry this week. Unfortunately, these reduced expectations seem to have produced little joy in […]
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COLUMN | The Twelve Days of Christmas 2023, final edition: ten spot anchor handlers; eleven foreign vessels for Hornbeck Offshore, and the new twelve labours of Hercules Supply in China [Offshore Accounts]
Merry Christmas! On the twelfth day of Christmas my true love gave to me… twelve drummers drumming, eleven pipers piping, ten lords a-leaping and so on, all the way back to that partridge in a pear tree from day one of the old festive carol. But not here, as, for the fourth year in a […]
COLUMN | The Twelve Days of Christmas 2023: Days 7,8 and 9: Standard Supply and Capital Maritime, Costamare and Vestland; eight billion tonnes of coal; nine missing Vroon vessels [Offshore Accounts]
Not long until Christmas now! On the first day of Christmas my true love gave to me… a partridge in a pear tree, according to the ancient English carol, but at Baird Maritime, we have already reached the second half of our Twelve Days of Christmas from an energy perspective. So, who replaces the seven […]
COLUMN | Explaining Tidewater’s dip as AD Ports buys ENAV Radiance for US$200 million [Offshore Accounts]
Hot on the back of Britoil buying Vroon’s fleet of 30 offshore support vessels (OSVs), and Golden Energy Offshore taking another five from the Dutch owner, last week’s big offshore deal was Abu Dhabi’s AD Ports buying the “eastern fleet” of ENAV. AD Ports has bought these ten vessels trading in...
Tidewater Shares Tumble as OSV Day Rates Set New High-Water Mark
Shares of Tidewater Inc. (NYSE:TDW) fell more than 10% on Tuesday after the company reported impressive revenue of nearly $300 million in the third quarter amid rising day rates for…
Quintin Kneen upbeat on Tidewater outlook
In another indication of the continuing uptick in the offshore services sector, the largest player in the game, Tidewater Inc. (NYSE: Tidewater) yesterday reported third quarter revenue that president and CEO Quintin Kneen said “nicely exceeded our expectations.”
Highlights of Tidewater’s third quarter 2023 results
- Revenue of $299.3 million, a 39.2% increase from the second quarter of 2023
- Average day rate increased to $17,865 per day, $1,823 higher than the second quarter of 2023
- Composite...
https://www.marinelog.com/offshore/quintin-kneen-upbeat-on-tidewater-outlook/
COLUMN | Wind wobbles – follow the money: Ørsted and BP make write-offs; Siemens Energy seeks aid; MingYang gets massive; Fredriksen’s Edda and ex-Havila hedges; Rickmers and Diana Shipping enter wind [Offshore Accounts]
“Our wind industry, for instance, is a European success story,” European Commission President Ursula von der Leyen recently said. “But it is currently facing a unique mix of challenges.” We’re no fan of Ms von der Leyen, a nepo-baby whose incompetence as German Defence Minister was rewarded not with the sacking she so richly deserved, […]
COLUMN | The chickens come home to roost again: Swiber charges in Singapore; Texas judicial investigation; CWind sold; Guardian Geomatics sold; Newbuild! Newbuild! [Offshore Accounts]
This week we look at consequences: judicial consequences, legal consequences, the consequences of bad strategy and bad execution, and the inevitable consequences of high day rates. Ladies and gentlemen, there is a newbuilding anchor handler out there, being built as you read this. Adjust your forecasts accordingly. But first, we look at other consequences. Goh-Goh […]
COLUMN | Quick Updates: Atlantica buys DOF’s supply vessel flip; Maersk sells anchor handlers; battery power drive gains momentum in UK and Norway; Ocean Infinity wins grant; more cable layers ordered [Offshore Accounts]
Last week we looked at Britoil’s acquisition of 30 offshore supply vessels (OSVs) from Vroon for a price we estimated to be in the region of US$239 million, and the acquisition of the Vroon Offshore Services management teams in Singapore and Italy. We noted how the Dutch Bank ING had foolishly cut a side deal […]