Message Font: Serif | Sans-Serif
 
No. of Recommendations: 6
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.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.