SEACOR Marine sells two liftboats to Nigerian operator
Written by Marine Log Staff
SEACOR Marine CEO John Gellert:
Houston-headquartered SEACOR Marine Holdings Inc.(NYSE: SMHI) reports that it has entered into definitive agreements for the sale of two 335 foot class liftboats to Warri, Nigeria-headquartered jAD Construction Limited for total gross proceeds of $76.0 million in cash and an estimated gain of $30.5 million. The net proceeds from the sales of these vessels are unencumbered and the transaction is expected to close during the third quarter of 2025, subject to customary closing conditions and regulatory approvals.
“This transaction continues our strategic shift away from high volatility markets at a sales price that reflects the deep value of our fleet,” said SEACOR Marine Holdings CEO John Gellert. “The sale proceeds provide us with multiple options to redeploy capital into more attractive assets and explore opportunities for consolidation with an improved cost structure and a strengthened balance sheet.”
“These sales allow the company to reduce its exposure to offshore wind and decommissioning markets that have experienced prolonged periods of softer demand due to deferrals and cancellations, which will help drive an improvement in our overall fleet utilization. Our actions today will also remove the anticipated cost and downtime associated with lengthy repairs on one of the vessels which were scheduled to commence in October 2025, significantly improving the company’s liquidity profile.
“I am excited about SEACOR Marine’s positioning after this sale. We have one of the youngest and highest specification fleets in the industry, with a presence in some of the most dynamic offshore markets in the world, and the opportunity to participate in the industry upcycle.”
