Anybody know which company would be the potential merger partner??
Robotti does own a notable stake in Seacor Marine. Tidewater’s ex-bankruptcy capital structure, mixed with Seacor Marine’s responsible management would make sense, and Seacor’s old owners would likely support a sale. But the market will only recover for them if the world (US market, in particular) will be moving towards significantly more deepwater oil in the next few decades.
I don’t know much about either company, but
Isn’t most of Tidewater’s OSV fleet foreign flag ?
Isn’t Seacor diversified into several other sectors of the shipping industry?
Compaq and HP, 2 black holes comes to mind.
The industry is over catered for by several multiples.
50% of the companies and vessels could be melted down and probably will be
Both Seacor Marine and Tidewater have large fleets under foreign flags and through foreign subsidiaries:
Seacor has some tugs. Don’t they have ATBs and tankers too?
TDW merged with Gulfmark a few years ago…so a third company will be merging with the two? Tdw/gulfmark have a huge combined fleet but yes mainly overseas.
Seacor just announced back in december they were going private. Is this just speculation that seacor would be the third?
I thought the drilling industry tried “too big to fail”
Will that work for OSV’s?
No. They will let foreign boats and mariners in before that happens. Overall the vessels are less expensive, the labor costs are infinitely less, and most boat owners do not “own” politicians anymore.