Tidewater is out to transform the offshore sector.
On the Houston shipowners third quarter earnings call Tuesday, new chief executive Quintin Kneen said the company is shedding vessels, reshuffling its leadership and righting its balance sheet in preparation for consolidating the anaemic industry.
"The best option for capital holders to get out of this predicament is through consolidation. There are too many management teams protecting too many vessels that have too much debt," Kneen said.
