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Tidewater Signs the Neptune Declaration on Seafarer Wellbeing and Crew Change

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Tidewater Inc. (NYSE: TDW) has joined over 400 global companies by signing the Neptune Declaration on Seafarer Wellbeing and Crew Change, aimed at resolving the crew change crisis exacerbated by COVID-19. The declaration focuses on four key objectives:

  • Recognizing seafarers as key workers for priority vaccination
  • Implementing high-standard health protocols
  • Enhancing collaboration for crew changes
  • Improving airline connectivity for seafarers

The initiative highlights the importance of regulations to ensure seafarer welfare and safe transport of essential goods.

Positive
  • Tidewater's commitment to the Neptune Declaration aligns with global efforts to resolve crew change issues.
  • Joining over 400 companies enhances Tidewater's reputation within the industry.
Negative
  • None.

Tidewater Inc. (NYSE: TDW) (“Tidewater” or the “Company”), a leading owner and operator of offshore support vessels providing offshore energy transportation services worldwide has signed the “Neptune Declaration on Seafarer Wellbeing and Crew Change” (the “Neptune Declaration”), joining more than 400 companies and organizations globally to work to ensure the crew change crisis caused by COVID-19 is resolved as rapidly as possible.

The Neptune Declaration’s four major aims are:

  • Recognize seafarers as key workers and give them priority access to COVID-19 vaccinations
  • Implement high-standard health protocols
  • Increase collaboration between ship operators and charterers to facilitate crew changes
  • Ensure airline connectivity between key maritime hubs for seafarers

“The world relies on the experience and dedication of seafarers to facilitate the transport of essential goods across the globe. Throughout these challenging times individual companies have continued to prioritize the wellbeing of seafarers, but there is more that can be done by working together to improve regulations and protocols so that these key workers make it home safely and on schedule,” said Quintin V. Kneen, Tidewater’s President and Chief Executive Officer. “We are proud to support this global effort to rapidly resolve this crew change crisis and we encourage everyone to contribute their support to this important cause.”

About Tidewater

Tidewater owns and operates the largest fleet of Offshore Support Vessels in the industry, with over 65 years of experience supporting offshore energy exploration and production activities worldwide. To learn more, visit www.tdw.com.

Forward-Looking Statements

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater notes that certain statements set forth in this press release contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact. All such forward-looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations could differ materially from our historical results or current expectations reflected by such forward-looking statements. Investors should carefully consider the risk factors described in detail in the Company’s most recent Form 10-K, most recent Form 10-Q, and in similar sections of other filings made by the Company with the SEC from time to time. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports filed by the Company with the SEC.

FAQ

What is the Neptune Declaration signed by Tidewater Inc. (TDW)?

The Neptune Declaration is a global initiative aimed at resolving the crew change crisis caused by COVID-19, focusing on seafarer welfare and safe transportation.

What are the main objectives of the Neptune Declaration for Tidewater (TDW)?

The main objectives include recognizing seafarers as key workers, implementing health protocols, enhancing collaboration for crew changes, and ensuring airline connectivity.

How many companies have signed the Neptune Declaration alongside Tidewater (TDW)?

Over 400 companies and organizations globally have signed the Neptune Declaration.

What impact does the Neptune Declaration have on Tidewater (TDW)?

Signing the Neptune Declaration improves Tidewater's industry reputation and demonstrates its commitment to seafarer welfare.

Tidewater, Inc.

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