The OSV sector has concluded its second quarter earnings season, marking another quarter with strong profitability and favorable market conditions. However, negative oil market sentiment, with the Brent price down by 19% since the start of July, has impacted the overall oil services market with the wider PHLX Oil Service Index trading down 4% year-to-date.
Tidewater announces the retirement of President and CEO Todd Busch, effective June 30, and current COO Johan Sperling will step into the role of President & CEO on July 1."Todd's leadership has been nothing short of remarkable," said Johan Sperling. "His vision and dedication have set a strong foundation for Tidewater's future.
Five of Canada’s largest energy-focused industry associations have formed a joint working group to support the push against the threat of a 25% tariff on all Canadian goods from the incoming U.S. President, Donald Trump.The Canadian Association of Petroleum Producers (CAPP), Pathways Alliance, Enserva, the Explorers and Producers Association of Canada (EPAC)
U.S.-based Patriot Maritime announced it has appointed Mark Handin as president, replacing Lance Bardo who will retire at the end of June.Handin joins Patriot after a 27+ year career in various management, executive and corporate officer roles within Tidewater Marine and the A.P. Moller-Maersk group.
Tidewater, a provider of marine transportation and terminal services on the Columbia Snake River System, revealed plans to invest in up to four new refined liquid products barges.The Vancouver, Wash. based company said its board of directors has approved the barge design and is progressing toward the construction phase.
Bollinger Shipyards announced it has promoted Andrew “Andy” Naquin to lead its sales team as the company's new Vice President of Sales.“Since joining Bollinger, Andy has been an invaluable addition to our team,” said Ben Bordelon, President and CEO of Bollinger Shipyards. “His deep experience and breadth of relationships in the maritime industry are second to none