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    Tidewater reduces newbuild obligations

    Vessel & ROV News // October 6, 2015

    Tidewater has entered into settlement agreements with Guangxin Shipbuilding & Heavy Industry to reduce its obligations for newbuild vessels under construction at the Chinese yard.

    According to Seabrokers, of nine remaining orders (three 7,145 bhp AHTS vessels and six 80m PSVs), Tidewater will take delivery of just two AHTS vessels and two PSVs as long as they are completed and delivered in accordance with the underlying
    construction contracts.

    Tidewater will have separate options to acquire, without obligation, each of the five remaining vessels.


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