Tidewater completed the acquisition of 37 platform supply vessels from Solstad Offshore for $580m.

Tidewater, a publicly traded international petroleum service company, completed the acquisition of 37 platform supply vessels from Solstad Offshore, a Norwegian offshore service and supply ship shipping company, for $580m. “We are pleased to announce the closing of this acquisition and associated financing. The acquired vessels make up the highest specification PSV fleet of its size in the world and will be an excellent complement to our existing fleet of PSVs. The combination also results in the largest hybrid OSV fleet in the world, with 14 battery hybrid and 2 LNG capable vessels. This acquisition marks the completion of another important milestone in the strengthening of Tidewater’s leadership position, and we remain focused on bringing together the world’s best OSV fleets to create the safest, most sustainable, most reliable, most profitable high-specification OSV fleet in the world,” Quintin Kneen, Tidewater President and Chief Executive Officer.