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Tidewater Reports First Quarter Results For Fiscal 2014

The company’s vessel commitments by vessel class and type as of June 30, 2013, were as follows:

    Non-U.S. Built     U.S. Built
Number         Invested     Remaining Number         Invested     Remaining
of Total Through Balance of Total Through Balance
Vessel class and type     Vessels     Cost     06/30/13     06/30/13     Vessels     Cost     06/30/13     06/30/13

In thousands, except number of vessels:

Deepwater platform supply vessels 18 $ 517,694 87,166 430,528 5 253,615 115,479 138,136
Towing-supply/supply vessels 6 112,907 42,477 70,430 --- --- --- ---
Other     3       61,487     48,299     13,188     ---     ---     ---     ---
Totals     27     $ 692,088     177,942     514,146     5     253,615     115,479     138,136
 

The table below summarizes by vessel class and vessel type the number of vessels expected to be delivered by quarter along with the expected cash outlay (in thousands) of the various vessel commitments as discussed above:

 

Quarter Period Ended

 
Vessel class and type   09/13     12/13     03/14   06/14     09/14     Thereafter  
Deepwater platform supply vessels 2     1     2   5     3     10
Towing-supply/supply vessels --- --- --- --- 3 3
Other   1     1     ---   ---     ---     1  
Totals   3     2     2   5     6     14  
(In thousands)

Expected quarterly cash outlay

 

$101,487

    50,374     94,024   97,838     113,925    

194,634

(A)

(A) The $194,634 of ‘Thereafter’ vessel construction obligations are expected to be paid out as follows: $92,137 in the remaining quarters of fiscal 2015 and $102,497 during fiscal 2016.

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