Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 322

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 322
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, Norway, Singapore, UK and Vanuatu, which are also referred to as Flag States. Our ships are regulated by these Flag States through international conventions that govern, among other things, health, environmental, safety and security matters in relation to our guests, crew and ships. Representatives of each Flag State conduct periodic inspections, surveys and audits to verify compliance with these requirements.

Classification Societies: Class certification is one of the necessary documents required for our vessels to be flagged in a specific country, obtain liability insurance and legally operate. Our vessels are subject to periodic class surveys, including dry-dock inspections, by vessel classification societies to verify that our vessels have been maintained in accordance with the rules of the classification societies and that recommended repairs have been satisfactorily completed. Dry-dock frequency is a statutory requirement mandated by SOLAS.

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National, Regional, and other Authorities: We are subject to the decrees, directives, regulations, and requirements of the European Union (EU), the UK, the U.S., other countries, and many other authorities, including ports that our vessels visit.

Port Regulatory Authorities (Port State Control): Our vessels are also subject to inspection by the port regulatory authorities, which are also referred to as Port State Control, in the various countries that they visit. Such inspections include verification of compliance with maritime safety, security, environmental, customs, immigration, health and labor requirements applicable to each port, as well as with regional, national and international requirements. Many countries have joined together to form regional Port State Control authorities.

Our Board of Directors has a Safety & Sustainability Committee (S&S Committee), which is comprised of three independent directors as of December 31, 2024. The principal function of the S&S Committee is to assist the Board in fulfilling their responsibility to supervise and monitor our health, environmental, safety, security (HESS) and sustainability policies, programs and initiatives at sea and ashore and compliance with related legal and regulatory requirements. The S&S Committee and our management team review at least quarterly significant HESS relevant risks or exposures and associated mitigating actions.

Maritime Regulations - Safety

The IMO has safety standards as part of SOLAS. To help ensure crew safety, SOLAS establishes requirements for the following:

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      Vessel design and structural features 

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      Life-saving and other equipment 

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      Construction and materials 

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      Fire protection and detection 

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      Safe management and operation 

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      Radio communications