Tidewater get another waiver extension

Tidewater get another waiver extension

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.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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