SEACOR buys four foreign-flag PSVs

Written by Nick Blenkey
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DECEMBER 27, 2017 — SEACOR Marine Holdings Inc. (NYSE: SMHI) has acquired four foreign flagged platform supply vessels (PSVs).

SEACOR and the sellers agreed to keep the exact terms of the transaction confidential but confirmed aggregate consideration for the four vessels was in the range of $7 million to $9 million in cash.

The four vessels are mid-size PSVs of UT 755LN design (approx. 3,250 deadweight) built between 2009 and 2010 with dynamic positioning class two systems. All the vessels are currently located in West Africa, all have valid regulatory trading certificates, and three of the four are presently employed on time charters.

John Gellert, SEACOR’s Chief Executive Officer, commented: “We are pleased to have successfully concluded this transaction after a lengthy process. We believe the price represents strong value for the vessels and offers a compelling use of a portion of our cash reserves.”

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