Tidewater is not too concerned that its competitors in the offshore vessel space may start putting ships back on the water in anticipation of a market recovery.
"It's a fair concern and I think we've seen it happen before," chief executive John Rynd said today during a conference call on first-quarter results.
"I think one difference this time potentially is a lot of vessel owners are very cash-strapped with debt load and may not have the ability to reactivate even if they wanted to."
