Page 67: of Marine News Magazine (November 2012)

while the last three to four years haven?t been the best in our industry, business is picking up and deepwater activity is leading the charge. Day rates for deepwater platform supply vessels have improved nicely and can continue to rise. Globally, drill ships and semi-submersibles are nearly fully utilized. In addition, about half of the 180 to 200 rigs currently under construction worldwide are for deep water. That bodes well for deepwater PSVs, the vessel of choice for those rigs.?Tidewater: By the Numbers The deepwater sector has been relatively active for a while, Bennett noted. Tidewater has invested over $1.8 billion in 77 deepwater PSVs as part of its expansion program since year 2000. As of June 30, 20 of 26 vessels under construction were deepwater PSVs. ?At the same time, the jack-up rig count in shallow and mid water is improving globally, creating increased demand for towing supply/supply vessels, another segment of our business,? Tidewater has invested over $1.8 billion in 77 deepwater PSVs as part of its expansion program since year 2000. As of June 30, 20 of 26 vessels under construction were deepwater PSVs.All photos: courtesy Tidewater, Inc. MN 67www.marinelink.com MNNov2012 Layout 66-81.indd 67MNNov2012 Layout 66-81.indd 6711/7/2012 11:13:07 AM11/7/2012 11:13:07 AM