COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Mar. 31, 2017

Commitments And Contingencies Disclosure [Abstract]

Schedule of Vessel Commitments to Acquire and Construct New Vessels and ROVs, by Vessel Type

The table below summarizes the company’s various vessel commitments to acquire and construct new vessels, by vessel type, as of March 31, 2017:

(In thousands, except vessel count)	Number of Vessels		Total Cost		Invested Through 3/31/17		Remaining Balance 3/31/17
Vessels under construction (A):
Deepwater PSVs (B)		2	$	110,022		77,054		32,968
Total vessel commitments		2	$	110,022		77,054		32,968

(A) The two remaining option vessels, a vessel rejected at the time of delivery, and a fast supply boat are not included in the table above.

(B) In April 2017, the company entered into a novation agreement and assigned the construction contract related to one of the vessels under construction to a third party for net consideration of $5.3 million thus relieving the company of future payments of $27.2 million.