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Has anyone heard about Tidewater expanding it's fleet?

How refreshing to see a question on the TDW board that isn't about TD Waterhouse!

Well, there's the earnings release/Reg FD disclosure at http://biz.yahoo.com/e/010207/tdw.html, which says in relevant parts:

The late-quarter announcement of our first meaningful new construction program since 1981 combined with our early-quarter announcement of the acquisition of the Sanko fleet of vessels places us at the forefront of providers of marine services for the evolving deepwater segment of the offshore oil and gas industry.

. . .

Tidewater is looking forward to continued strong performance in the fourth quarter of fiscal 2001 with our vessel acquisition program in effect and our new
construction program underway.


Hunting for the "late-quarter announcement", I find http://biz.yahoo.com/bw/010110/la_tidewat.html, which says in part:

NEW ORLEANS--(BUSINESS WIRE)--Jan. 10, 2001--Tidewater Inc. (NYSE:TDW - news) announced today that it has signed contracts with two Far East shipyards for the construction of eight vessels as part of Tidewater's new build program announced in January 2000. It has also announced that its subsidiary, Quality Shipyard L.L.C., will build a total of four vessels.

The $305 million in new build commitments falls on the heels of Tidewater's recent purchase of eight similar vessels from The Sanko Steamship Co., Ltd.


Patzer
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