Tidewater has slumped to a loss of $81.8m a more than nine-fold increase on the loss of $9.1m seen this time last year.

The weak fourth quarter result pushed the world’s largest offshore support vessel operator to a full-year loss of $160.2m.

Revenue for the last three months of FY2015 was $184.2m, a year-on-year decline of over 81% on the $979m seen twelve months earlier.

Tidewater