Tidewater takes over

Tidewater and Solstad have jointly announced a S&P agreement for 37 PSVs from Solstad’s global fleet. The agreement will see Solstad’s exit from the segment, shifting the company’s focus to high-end AHTS and subsea vessels which can service not only the oil and gas industry but the offshore renewables segment as well. As for Tidewater, this agreement strengthens their position as one of the leading global OSV operators, with an increased fleet totalling 228 vessels. With the acquisition, Tidewater’s fleet also becomes one of the youngest in the globe as well as the largest in terms of hybrid propulsion vessels. The PSV market has heated up worldwide and Tidewater’s new modern fleet will lift them as major player in every region of the world.