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#	AUTHOR DATE SUBJECT
31	member 1/30/17 12:39PM Re: Re: Re: Author Exit Recommendation 30
Has the debt extension changed your view on BK? Thanks view available tags
29	member 1/17/17 4:27PM Re: Author Exit Recommendation 26
Curious if you, or other commenters, are taking another look here as the stock is tanking? view available tags
27	member 12/08/16 9:27AM Re: Re: Re: Shipping Supernova Short Squeeze--why is TDW impacted? 25
There is more supply and structurally less demand going forward. Tidewater's CapitalOne presentation from today spells it out nicely. In July 2008 there were 603 working drilling rigs and 2,033 OSVs, for a OSV/rig ratio of... login to read the rest 1 view available tags
23	member 11/17/16 12:43PM Re: Re: Shipping Supernova Short Squeeze--why is TDW impacted? 22
Should have said 45% vessel margins at the peak, not 40%. view available tags
22	member 11/17/16 12:41PM Re: Shipping Supernova Short Squeeze--why is TDW impacted? 20
This is a crap industry with minimal barriers to entry that has been structurally impaired by shale.TDW is a crap company with bad management and a bad balance sheet. Yet, we're >20 posts into thisdiscussion and... login to read the rest view available tags
18	member 11/11/16 5:36PM Re: Overall Industry 8
In terms of indifference between the 3 and their debt issues I strongly disagree. TDW - Currently offside on covenants, trying to manage multiple creditor groups, hard to have a positive outcome that pleases everyone and... login to read the rest 2 view available tags
17	member 11/11/16 4:52PM Re: Re: Re: Re: Re: Re: Re: Ch 11 16
I'm not involved in the situation, so all of my insight was gained from reading debtwire articles on TDW and chatting w/ various special sit / distressed desks about their thoughts as part of a broader... login to read the rest view available tags
15	member 11/11/16 2:23PM Re: Re: Re: Re: Re: Ch 11 13
Also, no idea on timing, sorry. view available tags
14	member 11/11/16 2:20PM Re: Re: Re: Re: Re: Ch 11 13
My read is the delay is due to a challenges to provide a sufficient business plan / new capital structure for the unsecured holders. If there's a food fight going on now and the unsecureds... login to read the rest view available tags
12	member 11/11/16 1:15PM Re: Re: Re: Ch 11 11
I hear the push out in the forbearance is driven by on going restructuring negotiations regarding the business plan for the unsecureds. The equity holders don't have a seat at the table & are likely 1 view available tags
9	member 11/07/16 6:33PM Ch 11
Rumor is TDW is headed to chapter 11. Debtwire mentions a failed open mkt auction today of $65MM of the company's bank debt from a significant debt holder. There's been reports that the seller wanted 60-65... login to read the rest 3 view available tags
6	member 10/31/16 3:18PM Management comp
before you risk your $ in TDW, I suggest you have a quick look at mgmt's comp in the proxy filing. Even the IR guy makes seven-figures. Clearly the easier way to get rich with 2 view available tags
5	member 10/31/16 3:07PM Re: Re: Re: If you like TDW, you'll love HOS? 4
HOS has a tremendous amount of GOM exposure where pricing seems to be the the least favorable--TDW is more globally diversified. Also during the good times HOS had been pricing very aggressively, and is now experiencing a... login to read the rest view available tags
4	member 10/31/16 11:23AM Re: Re: If you like TDW, you'll love HOS? 3
I personally think there is a good chance HOS makes it but it is admittedly a coin toss. If you think oil prices stabilize around the current level or higher, HOS should benefit from reduced... login to read the rest 1 view available tags
1	member 10/30/16 3:13PM If you like TDW, you'll love HOS?
If things continue as they are, TDW is probably a bankruptcy. Several of the private companies are also likely to go under without a sustained oil price >$60. HOS has the best balance sheet in... login to read the rest 4 view available tags

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			2017	2018
Price:	26.60	EPS	1.96	1.73
Shares Out. (in M):	209	P/E	13.6	15.4
Market Cap (in $M):	5,550	P/FCF	13.7	14.7
Net Debt (in $M):	942	EBIT	716	640
TEV (in $M):	6,493	TEV/EBIT	9.1	10.1
Borrow Cost:	Available 0-15% cost

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