Tidewater outlines newbuild plans

Company News - August 25, 2000

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Tidewater says its much heralded new construction programme could cost in the order of $200-300 million.

Tidewater says it plans to acquire 4-6 new anchor handling tug supply vessels (AHTS), each capable of handling 200 tonne anchors; plus a similar number of AHTS vessels with a 150-tonne anchor handling capacity; and up to six 4,000dwt supply vessels.

Tidewater says it will have the first of the new AHTS designs built in the US because they are intended for operation in US waters, but the smaller vessels and supply vessels will probably be built outside the US.

Several shipyards in Korea, China and Japan are believed to be bidding for the work.

In recent months, the company has also acquired two UT755 platform supply vessels (PSVs) that are under construction at yards in Norway with scheduled delivery dates of December 2000 and May 2001. The aggregate price for the newbuilds is $26.4 million.

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