• 2017 July 15 12:53

    Tidewater announces confirmation reogranization plan

    Tidewater Inc. (NYSE: TDW) ("Tidewater" or the "Company") on July 13 announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has confirmed the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater and its Affiliated Debtors, originally dated May 17, 2017 and amended on July 12, 2017 and July 13, 2017 (the "Plan"), Tidewater said in a press release.

    The Company expects that Judge Brendan L. Shannon will enter a written confirmation order within the next few business days (the "Confirmation Order").

    "We are very pleased that the court has confirmed our Plan within a relatively short time frame," said Jeffrey M. Platt, Tidewater's President and Chief Executive Officer. "The substantial deleveraging of our balance sheet through the recapitalization contemplated by the Plan, as well as our strong liquidity position, should reassure our customer and vendor base of our ongoing ability to perform our contracts and meet our obligations while we weather the continuing headwinds in the offshore energy industry.

    Additionally, this restructuring will position us to consider possible targeted acquisition opportunities in an industry where consolidation is to be expected. We are working hard to complete the remaining steps necessary to emerge from bankruptcy by the end of this month. Tidewater is thankful for the continued support of our many stakeholders, including our lenders, noteholders, stockholders, employees, customers, vendors and trade creditors. Their support has been integral to the successful outcome of the chapter 11 process, and we look forward to emerging in the coming weeks as a strong, well-capitalized company, poised to continue providing our customers with the same safe, compliant and efficient services which have been the hallmark of our Company throughout our history."

    The following is a summary of the material terms of the Plan. This summary highlights only certain substantive provisions of the Plan and is not intended to be a complete description of the Plan. Capitalized terms used but not defined below have the meanings ascribed to them in the Plan. Following the entry of the written Confirmation Order, the Company will file a Current Report on Form 8-K with the Securities and Exchange Commission, which will include the Plan and Confirmation Order as exhibits. 




2018 April 24

09:17 Baltic Dry Index up to 1,306 points
09:08 Compensation regime for Hazardous and Noxious Cargoes a step closer - IMO
08:48 City of Antwerp and Antwerp Port Authority start urban mission to Moscow and St. Petersburg

2018 April 23

18:06 World’s largest short sea Ro-Ro vessel MV Celine christened at Dublin Port
17:52 Digital Ship’s Maritime Big Data Forum will be held on 29 May 2018 in Oslo
17:36 Ocean Rig announces agreement to postpone delivery of newbuilding drillship Ocean Rig Santorini
17:20 Construction of Bagayevsky hydrosystem begins in Rostov Region (photo)
17:05 ITF urges Hutchison Ports to improve global health and safety operations
16:35 Polskie LNG conduct a technical dialogue on extension of LNG Terminal in Świnoujście
16:29 Rosmorport’s icebreakers assisted over 5,700 vessels in freezing seaports of Russia this winter navigation season
16:05 Hapag-Lloyd plans 20 percent reduction in CO2 emissions by 2020
15:55 Azerbaijan Caspian Shipping Company to provide additional scholarships for students
15:33 TransContainer’s net profit in QI’2018 increased by 19.5% Y-o-Y to RUB 1.479 million
15:04 M.v. Tucana delivers fibre optic cable baskets from Drammen (Norway)
14:47 Port of Gdansk (Poland) throughput up 44% to 12.7 million tonnes in January-March 2018
14:31 Average wholesale prices for М-100 HFO in RF spot market up to RUB 13,542 per tonne
14:10 ICTSI PNG units ink union agreements
13:59 MOL сrude oil tanker rescues a castaway in the South China Sea
13:39 Container barge transport to become more efficient in the port of Antwerp
12:48 Cargo transportation by Ukraine’s water transport fell by 7.3% to 0.7 million tonnes in 3M’18
11:46 Vistula Maersk makes a maiden call to St. Petersburg, as first in series of new ice-class vessels
11:13 2 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on April 22-23
10:51 Training ship Perekop completes unofficial visit to Republic of Sri Lanka
10:25 Brent Crude futures price down 0.04% to $74.03, Light Sweet Crude – down 0.13% to $68.31
10:04 Workshop on IMO's ISPS Code held in Mexico
09:40 Training on ship air pollution and low carbon measures held in Tehran
09:17 Baltic Dry Index up to 1,281 points

2018 April 22

15:33 Port of Rotterdam Authority to realise tide pools along Calandkanaal
15:32 British Ports Association raise border facilities' concerns with PM
15:31 Hapag-Lloyd to revise the Fuel Surcharge for Inland Haulage under Carrier arrangement from Germany to Belgium and Netherlands
15:30 JAXPORT names Interim Chief Financial Officer
15:28 Seaspan announces senior management change

2018 April 21

15:06 MV Thuringia makes maiden CI3 service call at Chennai International Terminals
15:04 Diana Shipping announces time charter contract for m/v Arethusa with Glencore
15:00 Gothenburg Port Authority publishes Sustainability Report for 2017
14:47 Wärtsilä welcomes global shipping’s agreement to cut greenhouse gas emissions
14:45 Vopak to invest in new storage capacity at its Rotterdam terminal

2018 April 20

18:15 Yaroslavsky Shipyard launches yet another boom-laying boat (photo)
18:03 CMA CGM announces FAK rates from Asia to Middle East Gulf
17:47 President of Cyprus visits IMO
17:29 NOVATEK’s AGM approves 2017 dividends
17:03 SEA\LNG reiterates LNG’s central role in meeting IMO’s decarbonisation goals
16:40 SCF Group’s financing deal with VTB Bank recognized by Marine Money as a Deal of The Year
16:03 CMA CGM announces an agreement to acquire a stake in CEVA
15:36 Nuclear-powered submarine Severodvinsk passed control check for winter training period
15:03 MEPC 72: Proposal to mandate ISO sulphur test methods to be discussed further
14:40 Krasnoye Sormovo shipyard launches Russia’s first dry cargo carrier of Project RSD59 (photo)
14:24 HELCOM group meets in Berlin to focus on reducing land-based pollution affecting the Baltic Sea
13:38 WMU supports IMO climate change strategy for shipping
13:02 Panama Canal transits three LNG vessels in one day
12:43 Konecranes Gottwald Mobile Harbor Crane to handle bulk materials in Rotterdam
11:49 2 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on April 19-20
11:26 "Safety Day" held for Azerbaijan Caspian Shipping Company management
11:02 Navigation on rivers and canals of Saint-Petersburg opens from April 20
10:38 Azerbaijan Caspian Shipping Company and Russian Maritime Register of Shipping discuss cooperation
10:13 Brent Crude futures price down 0.26% to $73.59, Light Sweet Crude – down 0.31% to $68.08
09:55 Marine Technics supplied a set of engines to refit gensets of vessels operating on the Yenisei river
09:34 Bunker prices are going up at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index up to 1,201 points
08:07 Chairman of IACS pinpoints three key themes of the Association's strategy for the future