Latest news from Heavy Lift & Project Forwarding International Magazine

Tidewater gets court approval

July 17 - The United States Bankruptcy Court for the District of Delaware has confirmed the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization for Tidewater, the US provider of larger offshore service vessels to the global energy industry,

 "We are very pleased that the court has confirmed our plan within a relatively short time frame," said Jeffrey M. Platt, Tidewater's president and chief executive officer.

"The substantial deleveraging of our balance sheet through the recapitalisation contemplated by the plan, as well as our strong liquidity position, should reassure our customer and vendor base of our ongoing ability to perform our contracts and meet our obligations while we weather the continuing headwinds in the offshore energy industry.

"Additionally, this restructuring will position us to consider possible targeted acquisition opportunities in an industry where consolidation is to be expected. We are working hard to complete the remaining steps necessary to emerge from bankruptcy by the end of this month."

Heavy Lift | News

Crosby delivers training courses thumbnail image

Crosby delivers training courses

April 19 - The Crosby Group has conducted two rigging training courses in the USA on behalf of its distribution partner, B.C. Wire Rope & Rigging.
Views: 221
Egbert joins at Weserport thumbnail image

Egbert joins at Weserport

April 19 - Rudolf Egbert has been appointed to the management of Bremen-based terminal operator Weserport.
Views: 324
Ritchie realigns in North America thumbnail image

Ritchie realigns in North America

April 19 - Ritchie Bros has made two senior appointments, effective July 1, 2019, as the company aims to realign its organisation in North America.
Views: 252

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