Aiming to optimize the lifecycle of its assets, Tidewater (NYSE:TDW) is to implement a harmonized fleet management system (FMS) across its entire fleet.
The move comes as Tidewater is poised to again become the world’s largest operator of offshore service vessels with its acquisition of Swire Pacific Offshore.
The solution selected by Tidewater is the TM Master fleet management software suite from Bergen, Norway, headquartered Tero Marine AS, which is part of the Ocean Technologies Group.
The move is part of a wider operational excellence initiative from Tidewater. It aims to transform its OSV fleet to global systems and processes, and to create efficiencies through automation, digitalization and connectivity.
Tidewater’s Lee Johnson, senior vice president and chief information officer calls Tero Marine “an excellent partner for Tidewater” that has outperformed in past TM Master conversion projects.
“Tero Marine has a solid team with extensive experience in delivering quality data conversions with the highest level of data integrity and efficiency,” he says.
Tidewater expects its new direction to yield significant financial gains.
“The financial drivers for these savings are based on achieving industry best in class practices,” says Tidewater EVP and CFO, Sam Rubio. “Savings will will only be achieved by optimizing 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.”
“It is highly motivating for us to work with such a forward-looking customer that recognizes that fleet management systems are not only a tool for compliance but a means to transform the way we do business, finding greater efficiencies and enabling informed strategic decisions,” said Tero Marine CEO Rune Lyngaas. “Tidewater has the courage to question the way they do things and adopting the TM Master suite will empower their organization with the tool and information to realize broader transformational change.”