Tidewater has chopped its loss for the third quarter of the year thanks to cost reductions which helped the company perform above expectations.
The world's largest offshore vessel owner logged a net loss of $19.5m to the end of December compared to $160.7m in the same stretch of 2014.
Revenue was down from $387.6m to $218.2m while Clarksons Platou Securities projected a turnover of $245m for the company.
“Despite
