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Tidewater Acquires PSVs under Construction at STX OSV

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STX OSV – a designer and builder of offshore and specialized vessels – disclosed Friday that Tidewater has entered into an assignment agreement with STX Pan Ocean to take over three Platform Supply Vessels (PSVs) currently being built by STX OSV in Norway.

The first vessel in the series will be delivered to Tidewater during 1Q 2013, while deliveries of the other two vessels are scheduled for 2Q 2013 and 3Q 2013.

The vessels are of STX OSV PSV 09 design; their hulls are built at STX OSV Tulcea in Romania. Two of the vessels will be delivered from STX OSV Søviknes, while the third will be shipped from STX OSV Aukra in Norway.

Commenting on the deal, STX OSV’s CEO and Executive Director Roy Reite said: "STX OSV has in the past delivered ten offshore vessels to Tidewater. We are delighted to welcome Tidewater back to us as a client, and we look forward to cooperating with their team again."

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