Tidewater Inc a Delaware corporation was incorporated in 1956 and conducts its operations through wholly-owned subsidiaries and joint ventures. The Company provides offshore service vessels and marine support services to the global offshore energy industry through the operation of fleet of marine service vessels. It provides offshore vessel services in support of all phases of offshore exploration, field development and production, including towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities; offshore construction, remotely operated vehicle or ROV operations, and seismic support; and specialized services such as pipe and cable laying. The size and composition of the company's offshore service vessel fleet includes vessels that are operated under joint ventures, as well as vessels that have been stacked or withdrawn from service. At March 31, 2014, the company had 294 vessels of which 11 were owned by joint ventures, 15 were stacked. The Company manages and measures its business performance in four distinct operating segments which are based on its geographical organization: Americas, Asia/Pacific, Middle East/North Africa, and Sub-Saharan Africa & Europe. The average age of the company's 283 owned or chartered vessel fleet (excluding joint-venture vessels and vessels withdrawn from service) in its fleet at March 31, 2014 is approximately 9.9 years. The average age of 245 newer vessels in the fleet is approximately 6.9 years. The remaining 38 vessels have an average age of 28.8 years. Of the company's 283 vessels, 92 are deepwater class vessels, 126 are in the non-deepwater towing-supply & supply class vessels. The Company is subject to various United States federal, state and local statutes and regulations governing the operation and maintenance of its vessels.