US-based international offshore service vessel (OSV) provider Tidewater has received another extension to waivers on its debt commitments.
The company, headquartered in New Orleans, was previously granted waiver extensions until Friday (November 11) but now that has been further extended to January 27 next year.
Tidewater is the world’s leading OSV provider, with more than 300 vessels, and the latest extension increases hope that it can avoid filing for Chapter 11 bankruptcy.
This is the third deadline extension Tidewater has received as it continues talking with its principal lenders and noteholders about possible amendments to its debt arrangements while the outlook for the offshore industry continues to be poor.
