In 1955, a group of investors led by the Laborde family of New Orleans pioneered the development of the first offshore service vessel specifically designed and outfitted to support a burgeoning offshore oil and gas industry. One year later, Tidewater's first vessel Ebb Tide was ready to sail into the United States Gulf of Mexico and Tidewater Marine Service, Inc. was begun.
From that first vessel came anchor-handing towing-supply (AHTS) vessels, platform supply vessels (PSV), crew boats, offshore tugs and specialty vessels, among others. Collectively, these vessels transport people, equipment and supplies between mainland locations and numerous offshore installations. They also tow and position mobile drilling rigs, assist in a variety of offshore construction projects and aid in a number of specialty services, including cable-laying and three dimensional seismic work.
Today, Tidewater is the undisputed worldwide leader of the workboat industry with nearly 600 vessels and locations in all of the major oil and natural gas basins of the world.
Since its earliest days, Tidewater has pursued a goal of expansion. And it has been successful in that regard. Several key acquisitions down through the years have made Tidewater more than twice the size of its nearest competitor.
While Tidewater has owned several diversified businesses, its core competency has always been the workboat industry. The late 1980s and early 1990s saw a return to the company's core business with the divestment of its compression operations, it's oil and gas properties as well as its real estate holdings.
A key to Tidewater's success has been and remains its customer service. The company's philosophy is that having the best equipment is insignificant if that equipment is not operated by knowledgeable, friendly and skilled employees. In this respect, ongoing training and safety continue to be a major focus for our marine fleet employees.
Just as Tidewater has evolved through the decades, it must continue to change with the times. New and exciting challenges await the company and our management and front-line employees eagerly anticipate the next step to be taken. In short, Tidewater people are working hard to keep Tidewater a worldwide leader through serving our various publics and evolving with an ever-changing marketplace.
