TIDEWATER INC

Overview

Tidewater Inc. is a marine transportation and offshore energy services company that owns and operates offshore support vessels. Its vessels transport crews and supplies, tow and anchor rigs, and support offshore construction and energy operations. The company serves customers in more than 30 countries across the Americas, Asia Pacific, the Middle East, Europe/Mediterranean, and West Africa.[1]+2

At year-end 2025, Tidewater reported a fleet of 208 offshore service and related support vessels and full-year revenue of $1.353 billion. The company traces its founding to 1956.[1]+2 [1]+4

Products & services

Tidewater’s services are delivered through offshore support vessels. Platform Supply Vessels transport fuel, water, drilling fluids and other bulk materials in below-deck tanks, as well as casing, drill pipe, tubing and other cargo on deck. Anchor Handling Towing Supply vessels and offshore tugs provide towing, anchor handling, rig positioning and mooring, and subsea support; capabilities vary by vessel, with a cited V-Class vessel specification listing 120-tonne bollard pull.[6]+2

Crew boats and Fast Supply Vessels carry offshore personnel and cargo, with company-stated passenger capacity of up to 150. Specialty-vessel offerings include well stimulation, FPSO and ROV support, seismic work, platform maintenance, offshore accommodation, marine research and surveys. Subsea services include ROV survey, inspection, metrology, pre-commissioning and intervention; the Brewster Tide, for example, is described as equipped with a 250-hp ultra-heavy-duty ROV. Tidewater’s broader marine services support offshore oil and gas and offshore wind projects, including supply transport, rig towing, construction, geotechnical surveys, and pipe and cable laying.[9]+3

For 2025, vessel revenues were $1,338.931 million, or approximately 98.98% of total revenue; other operating revenues were $13.855 million, or approximately 1.02%. The company does not report revenue shares by vessel class or named service.[13][14] [12]+8

Geographic presence

Tidewater reports five operating regions: Americas (U.S. Gulf, Trinidad, Mexico and Brazil); Asia Pacific (Southeast Asia and Australia); Middle East (Saudi Arabia, the UAE and India); Europe/Mediterranean (the U.K., Norway, Egypt and East Africa); and West Africa (Angola and other coastal West African regions). East Africa was reassigned from the Middle East to Europe/Mediterranean in 2025; Tidewater reported no East Africa business activity since 2022.[3]

For FY2025, vessel revenue was distributed across West Africa (27.1%), Europe/Mediterranean (25.7%), the Americas (20.2%), Asia Pacific (14.2%) and the Middle East (12.9%); for the six months ended June 30, 2026, the respective shares were 24.6%, 30.0%, 17.0%, 14.2% and 14.2%. These percentages are calculated from reported segment vessel revenue; the filings do not provide country-level revenue shares.[15]+9

Tidewater’s worldwide headquarters and principal executive offices are in Houston, Texas, and its U.S. marine operations are based in Amelia, Louisiana, and Houston. The company reports facilities and offices in more than 30 countries, with principal international offices and/or warehouse facilities in Brazil, Mexico, Trinidad, Scotland, Egypt, Angola, Namibia, Cameroon, Singapore, Saudi Arabia, Dubai in the UAE, Australia and Norway.[25] [3]+11

Business segments

Tidewater reports five operating segments, organized by geographic market: Americas (U.S. Gulf, Trinidad, Mexico and Brazil), Asia Pacific (Southeast Asia and Australia), Middle East (Saudi Arabia, United Arab Emirates and India), Europe/Mediterranean (United Kingdom, Norway, Egypt and East Africa), and West Africa (Angola and other coastal regions of West Africa). These are regional operating segments rather than distinct product divisions; the company provides offshore vessel and related services in each market.[26]+2

For fiscal 2025, vessel revenue was $270.2 million in Americas (about 20.0% of consolidated revenue), $189.7 million in Asia Pacific (14.0%), $172.6 million in Middle East (12.8%), $343.6 million in Europe/Mediterranean (25.4%), and $362.8 million in West Africa (26.8%). Percentages are calculated against consolidated revenue of $1,352.8 million; the segment vessel-revenue figures total about 99.0% of that amount, with other operating revenue accounting for the balance.[28]+5 [26]+9

Company history

Tidewater Marine Service began offshore operations in the Gulf of Mexico in 1956 with the vessel *Ebb Tide* and expanded into Venezuela in 1958. During the 1960s, acquisitions including Twenty Grand Marine grew its fleet; in the 1970s the company added vessels and adopted the name Tidewater Inc.[35][36]

Tidewater filed for Chapter 11 bankruptcy protection in 2017 and emerged from restructuring on July 31 of that year. It completed its merger with GulfMark Offshore in November 2018.[37][36] In 2022 it completed the acquisition of Swire Pacific Offshore, adding 50 vessels, and in 2023 acquired 37 platform supply vessels and associated charter parties from Solstad Offshore. In 2026 it completed its acquisition of Wilson Sons Ultratug and affiliate Atlantic Offshore Services, whose fleet included 22 platform supply vessels.[38]+2 [35]+4

Sources

• TIDEWATER INC — Full financial report (2025 Y)
  13 citations

  [1][3][12][13][14][15][16][17][18][19][25][26][27]
• www.tdw.com[2]
• TIDEWATER INC — Full financial report (2026 Q 2)
  12 citations

  [4][20][21][22][23][24][28][29][30][31][32][33]
• investor.tdw.com[5]
• www.tdw.com[6]
• www.tdw.com[7]
• www.tdw.com[8]
• www.tdw.com[9]
• www.tdw.com[10]
• www.tdw.com[11]
• www.sec.gov[34]
• www.tdw.com[35]
• www.tdw.com[36]
• www.sec.gov[37]
• investor.tdw.com[38]
• investor.tdw.com[39]