Tidewater to spend $100 million on new vessels

Tidewater Inc. has agreed to pay an Indonesian shipyard $10..." /> Tidewater to spend $100 million on new vessels

Tidewater Inc. has agreed to pay an Indonesian shipyard $10...">
Tidewater to spend $100 million on new vessels

Tidewater Inc. has agreed to pay an Indonesian shipyard $100 million to build four deepwater petroleum platform supply vessels.

New Orleans-based Tidewater said Wednesday that it expects the 265-foot vessels to be completed by Drydocks World in late 2012. The ships will be built in Batam, Indonesia.

Tidewater said it also obtained options for the construction of up to four additional vessels.

Tidewater said the contract is part of its $500 million fleet renewal program. The company has 396 vessels that service the offshore petroleum industry.
<span style="font-size: 14pt"><span style="font-weight: bold">Tidewater to spend $100 million on new vessels</span></span><br /> <br /> Tidewater Inc. has agreed to pay an Indonesian shipyard $100 million to build four deepwater petroleum platform supply vessels.<br /> <br /> New Orleans-based Tidewater said Wednesday that it expects the 265-foot vessels to be completed by Drydocks World in late 2012. The ships will be built in Batam, Indonesia.<br /> <br /> Tidewater said it also obtained options for the construction of up to four additional vessels.<br /> <br /> Tidewater said the contract is part of its $500 million fleet renewal program. The company has 396 vessels that service the offshore petroleum industry.
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