TERO PARTNERSHIP AGREEMENT WILL INCREASE EFFICIENCY FOR TIDEWATER FLEET

Mar 15, 2022 | offshore marine news

Offshore Service Vessel (OSV) provider Tidewater has initiated a transformation project to optimise the lifecycle of its assets through the implementation of a harmonised Fleet Management System (FMS) from Tero Marine across its entire fleet.

Tero Marine to provide Tidewater with consultancy services and the fleetwide implementation of its TM Master fleet management software suite. 

Part of the Ocean Technologies Group (OTG) since 2020, Tero Marine is an established fleet management software and services provider. Its TM Master and TM Insights applications are an integral part of OTG’s suite of complementary services across learning, fleet and crew management.

 The strategic move is part of a wider Operations Excellence initiative from Tidewater to transform its fleet to global systems and processes, create efficiencies through automation, digitalisation to connect and integrate onshore and offshore, and scalability to optimise fleet efficiency for new acquisitions. Tidewater recently acquired Swire Pacific Offshore.  

The initiative is intended to strategically unify processes and best practice across the group, eliminating fragmentation and reducing the administrative burden on the ship and shore-based teams. This centralised approach will also provide increased data transparency making it easier to verify safety-critical checks onboard and provide real-time oversight and control over operations. Tero Marine was selected as a trusted and reliable partner that can be instrumental in driving change management and implementation of best practices.

Lee Johnson, SVP and CIO explained: “Tero Marine is an excellent partner for Tidewater and 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.”

Tidewater expects the new direction to yield significant financial gains, with change management seen as critical to unlocking potential for return on investment.

Tidewater EVP and CFO Sam R Rubio said: “The financial drivers for these savings are based on achieving industry best in class practices. Savings will only be achieved by optimising 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.”

Rune Lyngaas, CEO Tero Marine, said: “We are delighted to enter into this partnership with Tidewater and are deeply proud of the confidence they have shown in our team and our ability to play an important part in delivering the organisational change they envisage. It is highly motivating for us to work with such a forward-looking customer that recognises 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. Tidewater has the courage to question the way they do things and adopting the TM Master suite will empower their organisation with the tool and information to realise broader transformational change.”

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