Tidewater completed the acquisition of Swire Pacific Offshore from Swire Pacific for $190m.

Tidewater, a publicly traded international petroleum service company, completed the acquisition of Swire Pacific Offshore, a marine services provider, from Swire Pacific, a highly diversified global group, for $190m. "The acquisition of Swire Pacific Offshore marks another important milestone in the strengthening of Tidewater’s leadership position as we capitalize on the recovery in the OSV industry. I am excited to have acquired a high-quality fleet with a strong reputation in the maritime sector globally. I believe that the timing of this acquisition will allow Tidewater to capitalize on the continued improvement in the offshore supply vessel market, providing Tidewater with significant additional earnings and free cash flow generation potential as utilization and day rates continue to improve. All 50 acquired vessels are currently active and working throughout the world, allowing Tidewater to immediately leverage this new asset base," Quintin Kneen, Tidewater President and CEO.