Tidewater

What Tidewater does

Tidewater Inc. (NYSE: TDW), founded in 1956 and headquartered in Houston, Texas, is the world's largest owner and operator of Offshore Support Vessels (OSVs), serving the offshore energy industry with a fleet of over 206 vessels (expanding to 231 upon closing of the Wilson Sons Ultratug acquisition). The company provides time-charter vessel services including Platform Supply Vessels (PSVs) for cargo and fluid transport, Anchor Handling Towing Supply Vessels (AHTSs) for rig towing and positioning, offshore tugs, specialty vessels (FPSO support, ROV support, accommodation), and crew boats/fast supply vessels (FSVs). Operations span conventional marine services (supply, towing, construction support, seismic support, salvage) and harsh-environment services (North Sea, Barents Sea, Greenland, Arctic). Tidewater differentiates through proprietary efficiency technologies including Siemens Blue Drive PLUSC variable-speed propulsion (up to 30% fuel reduction), FuelTrax and enginei fuel monitoring systems, UniSea HSE software, and DNV-certified hybrid battery vessels reducing NOx and CO2 emissions.

The company generates revenue primarily through multi-year time-charter contracts with major oil and gas exploration and production companies, with day rates negotiated by vessel type, region, and contract duration. Revenue streams include core vessel charter services (treated as recurring subscription-style revenue) and specialized marine support services (professional services). Tidewater employs an enterprise field sales motion with regional offices on six continents — Houston (HQ), Singapore (Asia Pacific), Rio de Janeiro (Americas), and London (North Sea/Europe) — to support local contract negotiation and customer service. Q4 2025 free cash flow reached $426 million and FY2025 revenue totaled $1,352.8 million with net income of $333.5 million (up 85% year-over-year). The 2026 revenue guidance is $1.43-$1.48 billion, with the company signaling day rates expected to remain flat through 2026 before climbing by $3,000-$4,000 per day in 2027-2028. Customer base spans global oil and gas majors with a growing presence in the offshore wind energy sector.

Name

Tidewater

Legal name

Tidewater Inc.

Website

http://www.tdw.com/

Company type

Public

Founded year

1956

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Tidewater Inc. is the world's largest owner and operator of offshore support vessels, providing time-charter vessel services (PSVs, AHTSs, tugs, crew boats) to global oil and gas exploration and production companies across 30+ countries, with growing exposure to offshore wind.

Ownership category

akta.pro rank

Product category

Offshore Marine Vessel Charter Services

NAICS

Support Activities for Water Transportation (4883), Water Transportation (483)

SIC

Water Transportation (4400)

akta.pro primary industry

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)

akta.pro secondary industry

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)

Keywords

• Offshore support vessels
• Marine vessel charter
• Oil and gas services
• Offshore energy logistics
• Platform supply vessels

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Vessel Charter Services: Time charter contracts for offshore support vessels including Platform Supply Vessels (PSVs), Anchor Handling Towing Supply Vessels (AHTSs), offshore tugs, and crew boats. Revenue is generated through day rates charged to energy companies for vessel utilization in offshore exploration, development, and production activities.
2. Specialized Marine Support Services: Additional services including construction support, well stimulation, FPSO support, seismic support, pipe laying, cable laying, pollution and fire control, ROV support, platform maintenance, and offshore accommodation

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Tidewater owns and operates the largest fleet of Offshore Support Vessels (OSVs) in the industry, providing time-charter marine services to the offshore energy sector. The fleet includes Platform Supply Vessels, Anchor Handling Towing Supply Vessels, offshore tugs, specialty vessels, and crew boats, used to transport crews and supplies, tow and position drilling rigs, and support offshore construction, FPSO, ROV, and subsea operations across more than 30 countries.

Product overview

Tidewater operates the largest fleet of Offshore Support Vessels (OSVs) in the industry, providing comprehensive marine support services to the offshore energy sector. The fleet includes Platform Supply Vessels (PSVs) for cargo transport, Anchor Handling Towing Supply Vessels (AHTS) for rig positioning and towing, Offshore Tugs for conventional towing and construction support, Specialty Vessels for FPSO/ROV/accommodation applications, and Crew Boats/FSVs for personnel transport. Services are delivered through two main categories: Conventional Marine Services (supply, towing, construction support, seismic, salvage) and Harsh Environment Services (operations in challenging regions like the North Sea and Arctic waters). With over 200 vessels and offices across six continents, Tidewater supports all phases of offshore exploration, development, and production activities.

Differentiator

Problem solved

Functional benefit

Products and services

• Platform Supply Vessels (PSVs) General purpose supply vessels designed to transport fuel, water, drilling fluids, cement, mud, and deck cargo to offshore installations. Features spacious open decks and below-deck tanks for varied cargo types. Used by oil and gas exploration and production companies.
• Anchor Handling Towing Supply Vessels (AHTS) Large, powerful vessels capable of towing, anchor handling, and positioning drilling rigs, with capabilities for subsea operations and general offshore support in various depths and sea conditions.
• Offshore Tugs Offshore tugs offering towing, anchor handling, and marine construction support for rig towage and coastal/ocean cargo operations.
• Specialty Vessels Specialized vessels supporting FPSO operations, ROV support, platform maintenance, offshore accommodation, and marine research and survey applications.
• Crew Boats / Fast Supply Vessels (FSVs) High-speed vessels capable of transporting up to 150 passengers and moderate cargo quantities for offshore personnel transport and production support.
• Conventional Marine Services Transport and supply of offshore material, anchor handling, towing and positioning, construction support, well stimulation, FPSO support tugs, seismic support, personnel support, salvage and remediation services for offshore energy companies.
• Harsh Environment Services Specialized operations in harsh environments such as Greenland, North Sea, Barents Sea, and Canada, including polar code compliant vessels, ice class vessels, winterization capabilities, oil recovery, standby rescue, and supply duties.

Quantifiable outcome

• Fleet fuel consumption reduction of up to 30% through Siemens Blue Drive PLUSC propulsion technology

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Rimini StreetcoreTechnology or Integration · 20 December 2025Expanded partnership with Rimini Street following successful optimization of regional ERP and tax software solutions in Brazil. The expanded partnership now covers Tidewater's global operations and includes additional services such as Rimini Connect interoperability solutions and Rimini Consult professional services, enabling Tidewater to consolidate financial systems, automate tax reporting, and achieve operational efficiencies.
• Sailors' SocietycoreStrategic or Co-development PartnerStrategic partnership to provide the Wellness at Sea program to seafarers. This is the first holistic and custom-built wellness program serving the needs of seafarers, providing a dedicated confidential helpline and instant chat available 24/7, along with crisis response support. The partnership aims to foster a corporate culture prioritizing the safety and wellbeing of teams.
• GLO MarineminorImplementation/ SI/ Consulting PartnerMulti-vessel retrofit contract covering 16 vessels across three continents including U.S. waters. GLO Marine and VMS Group Denmark delivered BWTS systems, surveyed 14 vessels, and retrofitted and commissioned two vessels to date, with over 50 professionals involved.
• VMS Group DenmarkminorImplementation/ SI/ Consulting PartnerMulti-vessel retrofit contract providing integrated EPCI model that achieved 25% reduction in engineering hours and 15% reduction in materials and logistics costs per vessel through a plug-and-play system approach.
• United Nations Global CompactcoreStrategic or Co-development PartnerTidewater became a signatory to the UN Global Compact in 2020, committing to its corporate responsibility initiative and principles in the areas of human rights, labor, environment, and anti-corruption.
• NOIA ESG NetworkcoreStrategic or Co-development PartnerTidewater is a member of the National Ocean Industries Association Environmental, Social & Governance (ESG) Program, committing to support the ESG Network and its initiatives to share and develop best practices across the offshore energy industry.
• NAMEPAminorStrategic or Co-development PartnerTidewater is a member of the North American Marine Environment Protection Association, committed to education and promoting sustainability in the marine industry.
• The Nautical InstitutecoreStrategic or Co-development PartnerTidewater established a Dynamic Positioning Excellence Committee (DPEC) and The Nautical Institute certified training center to act as the company DP Authority, ensuring safe operations through training and regular standardized assessments for dynamic positioning.
• SiemenscoreTechnology or IntegrationTidewater led the industry in fuel efficiency by investing in Siemens Blue Drive PLUSC propulsion technology, enabling variable speed operations and reducing fuel consumption by up to 30%.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SEACOR Marine Holdings: U.S.-listed OSV operator (NYSE: SMHI) focused on platform supply vessels, crew boats, and specialty offshore service vessels serving oil & gas E&P. Highly comparable to Tidewater in vessel mix, customer base, and geographic focus on the Gulf of Mexico and Latin America.
• Solstad Offshore ASA: Norwegian-listed offshore support vessel owner/operator with global AHTS, PSV, and subsea construction vessels. Closely comparable to Tidewater's high-spec PSV fleet and competes head-to-head in North Sea, Brazil, and Asia Pacific basins.
• DOF Group ASA: Norwegian offshore vessel operator with PSVs, AHTSs, and subsea construction/ROV assets, recently restructured and relisted. Directly comparable in vessel categories, customer base (IOCs and Petrobras-type NOCs), and geographic footprint.
• Vroon Offshore: Dutch-based offshore support vessel operator with PSVs, AHTSs, and crew boats serving the North Sea and global markets. Comparable in vessel mix and enterprise customer base; competes with Tidewater particularly in Europe and West Africa.
• Siem Offshore: Norwegian offshore service vessel owner-operator (Oslo Bors: SIOF) with PSVs, AHTSs, and specialized subsea/renewables vessels. Comparable in vessel categories and offshore E&P focus, with growing offshore wind exposure that parallels Tidewater's strategic direction.
• Bourbon Corporation: French-headquartered OSV operator with PSV and AHTS fleets serving global offshore oil & gas customers. Directly competes with Tidewater in West Africa and Brazil; recently emerged from financial restructuring, making it a close comparable on fleet positioning and customer overlap.
• Edison Chouest Offshore: Privately held U.S. offshore support vessel operator with a large PSV, AHTS, and crew boat fleet serving the Gulf of Mexico and international markets. Comparable vessel categories and customer base to Tidewater; private status limits direct comparability.

Regional players

• Havila Shipping: Norwegian offshore service vessel operator primarily active in the North Sea with PSV and AHTS tonnage. Comparable vessel mix to Tidewater's North Sea operations but with a more regional concentration.

Broad incumbents

• International Seaways: NYSE-listed global tanker and offshore service vessel operator; the OSV arm includes shuttle tankers and FSO/FPSO support that overlaps with Tidewater's specialty vessel segment. Indirect comparable as a broader maritime player with offshore exposure.

Others

• Valaris Limited: NYSE-listed offshore drilling contractor (drillships, semis) whose rigs consume Tidewater's OSV services as PSV/AHTS suppliers. Adjacent rather than competitive: Valaris sits upstream in the offshore value chain and is a key indirect customer set for Tidewater's anchor handling and supply operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/TidewaterTDW
• Facebookfacebook.com/tidewatermarine
• LinkedInlinkedin.com/company/tidewater-marine

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tidewater