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SEACOR reports improved operating income

Written by Nick Blenkey
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SEACOR Executive Chairman and Chief Executive Officer Charles Fabrikant

OCTOBER 24, 2018 — “Operating income improved this quarter due to better results in our inland and ocean transport and logistics businesses,” said SEACOR Holdings Inc. (NYSE:CKH) Executive Chairman and CEO Charles Fabrikant as the company reported its third quarter results. “Our SEA-Vista tanker fleet benefited from not having any dry-docking expenses during the quarter and more available revenue days and our chemical ATB was able to find employment in what was a weak spot market for product movement. As of September 30, 2018, SEA-Vista’s revenue backlog was approximately $357 million. Inland rates improved in part due to harvest activity and export demand and also due to continued demand for coal exports and frac sand moving to the Permian from mid and upper Mississippi River origin. Barge rates are variable and the self-imposed Chinese embargo of American origin soybeans creates uncertainty for next year.”

“Our Witt O’Brien’s subsidiary had a strong quarter and continued success in expanding its business,” Fabrikant continued. “It continues to lead the U.S. Virgin Islands’ recovery from last year’s storms and has also supported similar recovery efforts across communities in Texas, Florida and now Puerto Rico. Following hurricanes Florence and Michael, Witt O’Brien’s has been activated in North Carolina, South Carolina and Florida. Furthermore, its private sector activity continues to grow.”


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