Tidewater Inc. (TDW) announced the completion of its acquisition of Swire Pacific Offshore Holdings Limited (SPO), a subsidiary of Swire Pacific Limited, effective April 22, 2022. The completion of the SPO acquisition adds 50 vessels to the fleet and creates the world’s leading OSV operator.
SPO owns and operates a diverse fleet of more than 50 vessels, including Anchor Handling Tug Supply (AHTS) Vessels, Platform Supply Vessels (PSV) and a Seismic Survey Vessel. With over 45 years of operational experience, SPO owns and operates a diverse fleet in every major oil exploration region outside of US Gulf of Mexico. They include:
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Anchor Handling Tug Supply Vessels |
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Platform Supply Vessels |
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Seismic Survey Vessel |
Headquartered in Singapore since 1992, SPO and its subsidiaries have more than 20 regional offices around the world. This extensive network of local offices allows the company to stay close to the operations, personnel and clients, so as to manage any operational, technical, personnel or commercial requirements promptly and efficiently.
Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented, “We are pleased to announce the closing of this acquisition and we are excited to welcome our new employees and customers to Tidewater. This acquisition marks the completion of another important milestone in the strengthening of Tidewater’s leadership position in the OSV industry as we capitalize on the recovery of the offshore vessel market.”
Image credit SPO