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for sale. We have been successful in selling our older equipment outside of our industry, primarily into the Þ shing, crabbing and shrimping industry, the Caribbean trade business or other non-oilÞ eld-related industries.Ó Bennett said Òwe continue to move our vessels around to global locations providing the best returns. We have a number of U.S.-ß agged vessels working overseas that could be redeployed back to the GOM. Most of the demand now in the GOM is for deep water PSVs--the class of vessel that is also in high demand in other deepwater provinces of the world.Ó Tidewater Renegotiates in AngolaTidewaterÕs sizable presence in Angola has been bumpy recently. The companyÕs joint venture agreement with AngolaÕs state oil Þ rm Sonangol , a partnership named Sonatide, expired on March 31 but was extended to Dec. 31 so that negotiations on restructuring the venture could continue. On Aug. 8, Tidewater CEO Jeff Platt said that Sonangol was willing to consider additional contracting activity through the Sonatide venture. Meanwhile, in the six months ended June 30, Tidewater moved Þ ve company-owned vessels from Angola to other offshore locations. Todd Scholl, director of global oilÞ eld research at Clarkson Capital Markets in Houston, told MarineNews last month that uncertainty about the Angola joint venture and the fact that 25 percent of TidewaterÕs vessel revenues are from that nation, has kept the companyÕs stock price in check. Scholl said TidewaterÕs French vessel competitor Bourbon SA is trying to make inroads in offshore Angola as November 201270 MNMNNov2012 Layout 66-81.indd 70MNNov2012 Layout 66-81.indd 7011/7/2012 11:13:54 AM11/7/2012 11:13:54 AM