Tidewater signs strategic partnership with Tero Marine

To help drive this digitalisation journey, Tidewater has signed a partnership agreement with Tero Marine to provide best practice consultancy services and the fleetwide implementation of Tero Marine’s TM Master fleet management software suite.

The strategic move is part of a wider Operations Excellence initiative from Tidewater to transform their fleet to global systems and processes, create efficiencies through automation, digitalisation to connect and integrate onshore and offshore, and scalability to optimise fleet efficiency for new acquisitions.

The initiative is intended to strategically unify processes and best practice across the group, eliminating fragmentation and reducing the administrative burden on the ship and shore-based teams. This centralised approach will also provide increased data transparency making it easier to verify safety-critical checks onboard and provide real-time oversight and control over their operations.

Tidewater also expects the new direction to yield significant financial gains, with change management seen as critical to unlocking considerable potential for return on investment. Executive Vice President and Chief Financial Officer Sam R Rubio said: “The financial drivers for these savings are based on achieving industry best in class practices. Savings will only be achieved by optimising processes and securing acceptance across the fleet. TM Master software is an enabler, but it is our crews and onshore resources that will make this a successful transition. Change management is a critical success factor for any transformation.”

On 9 March 2022 Tidewater announced the acquisition of Swire Pacific Offshore (SPO) creating the industry’s largest fleet of OSVs including SPO’s fleet of 50 OSVs consists of 29 AHTS vessels and 21 PSVs. As a result, Tidewater will own a fleet of 174 OSVs, bringing Tidewater’s total fleet size to 203 vessels, including crew boats, tug boats and maintenance vessels.