Tidewater acquisition creates world’s largest OSV fleet
SINGAPORE, March 10, 2022 – Swire Pacific Offshore has been acquired by Houston-headquartered offshore support vessel (OSV) entity Tidewater for around USD 190 million, the Singaporean vessel operator announced on Wednesday.
The move will add Swire Pacific Offshore’s 29 anchor handling tug supply vessels and 21 platform supply vessels to Tidwater’s portfolio, creating a fleet of 174 OSVs and 29 multipurpose vessels including crew and tug boats.
The sale is expected to close in H2 2022.
“The addition of 25 OSVs in West Africa will nearly double Tidewater’s presence in the rapidly growing region, positioning it as the largest operator of active vessels in the region,” said Quintin Kneen, president and CEO of Tidewater.
“Similarly, the addition of the SPO fleet in Southeast Asia and the Middle East positions Tidewater as the largest operator of active vessels across the entire region.”