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URL:  https://boards.fool.com/does-anyone-know-how-much-of-their-transport-is-14321450.aspx

Subject:  Re: not just oil Date:  2/10/2001  9:43 PM
Author:  STomlinson Number:  196 of 213

Does anyone know how much of their transport is in oil and how much is in other items?

From the most recent 10-K filing:

Year Ended March 31, 2000:

Towing-supply/Supply.................. 72.8%
Offshore Tugs......................... 14.1%
Crew/Utility.......................... 9.2%
Safety/Standby........................ 2.0%
Other................................. 1.9%



These figures reflect the breakdown of revenues from vessel operations only. Tidewater also operates two shipyards, which contribute a small percentage to revenues. The 10-K says 44% of the shipyards' business for the year related to Tidewater's own vessels.

I saw no direct mention of grain and woodchips, but I'd guess that falls into the "Other 1.9%" percent category. The 10-K included the following paragraph:

The company's other major classes of vessels include crew and utility vessels that are chartered to customers for use in transporting small quantities of supplies and personnel from shore bases to offshore drilling rigs, platforms and other installations; offshore tugs that tow floating drilling rigs, dock tankers, barges, assist pipelaying and construction barges and are used in a variety of other commercial towing operations, including towing barges carrying a variety of bulk cargoes and containerized cargo.

The 10-K also mentions that Tidewater will charter inland tugs "to others." I would presume that what you saw floating down the river was part of this inland fleet. Hard to say for certain without a call to the company, but it could very well be Tidewater is trying to find revenue opportunites for idle capacity.

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