John Gellert

SEACOR Marine orders two new PSVs in China

Houston-headquartered SEACOR Marine Holdings Inc. (NYSE: SMHI) reports that it has entered into a new senior secured term loan of up to $391.0 million with an affiliate of EnTrust Global and separate agreements to build two platform supply vessels (PSVs) for a contract price of $41.0 million per vessel.

“The new financing with EnTrust Global consolidates all our debt under a single facility maturing in 2029 and addresses $125.0 million of near-term maturities previously due in 2026 to The...

https://www.marinelog.com/offshore/seacor-marine-orders-two-new-psvs-in-china/

SEACOR Marine wins NOIA ESG Excellence Award

The National Ocean Industries Association (NOIA) has named SEACOR Marine the winner of the third annual NOIA ESG Excellence Award.

The NOIA Environmental, Social, & Governance (ESG) Excellence Award highlights and recognizes those who, by their actions, design, or influence, are contributing to the advancement of the ideals embodied by the NOIA ESG Principles:

“SEACOR Marine exemplifies the NOIA ESG Principles in virtually every aspect of its operations,” said Erik Milito, president of NOIA....

https://www.marinelog.com/offshore/seacor-marine-wins-noia-esg-excellence-award/

Seacor Marine shows improvement in fourth quarter earnings

The Ava J McCall, a 13,500-hp fast support vessel built by Gulf Craft for Seacor. Seacor photo

Seacor Marine Holdings Inc. announced its fourth quarter earnings today, which included improved results, the Houston-based OSV operator said.

Fourth quarter highlights include:

  • Total operating revenues increased 43.8% as compared with the fourth quarter of 2017.
  • Cash flows from operating activities increased to $11.9 million from $5.6 million in the prior quarter.
  • Operating loss decreased by $24.6 million to $11.2 million from $35.8 million in the fourth quarter of 2017, representing a 68.8%...

https://www.workboat.com/news/offshore/seacor-marine-shows-improvement-in-fourth-quarter-earnings/

Seacor Marine to acquire three PSVs from COSCO Shipping

The Rolls Royce UT771CDL design can accommodate an upgrade to a battery hybrid power solution. DNV GL rendering

Seacor Marine Holdings Inc. announced yesterday it would acquire three platform supply vessels from COSCO Shipping Heavy Industry (Zhoushan) Co. Ltd. for $46 million.

COSCO Zhoushan is an affiliate of COSCO Shipping Group, the world’s largest ship owner.  Thirty percent of the purchase price will be paid in cash and 70% will be paid under a four-year deferred payment agreement between Seacor Marine and COSCO Zhoushan. Half of the cash payment will be paid in the first quarter of 2019 with the...

https://www.workboat.com/news/offshore/seacor-marine-to-acquire-three-psvs-from-cosco-shipping/