TIDEWATER INC — Director's Dealing 2006

Jun 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2006-05-30

Reporting Person: LOUSTEAU J KEITH (Exec VP, CFO & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-30	Common Stock	F	974	$49.15	Disposed	53482	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4801	Indirect

Footnotes

F1: Withholding of shares to pay taxes.

F2: Acquired on a periodic basis by the Trustee of the Tidewater Inc. 401(k) Savings Plan. Includes shares acquired for my account through April 30, 2006.