U.S.-based OSV operator Tidewater and its compatriot GulfMark Offshore have decided to combine to create a new player with the largest fleet in the OSV sector.
The two companies informed on Monday that the boards of directors of both companies have unanimously approved a definitive agreement to combine the two companies.
This combination, if consummated, will create a global offshore support vessel provider positioned to capitalize on significant cost synergies and superior growth opportunities as the OSV sector recovery gains traction, the two companies said in a joint statement on Monday.
Brazil Energy Insight 
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