Welcome to our dedicated page for Seacor Marine Ho news (Ticker: SMHI), a resource for investors and traders seeking the latest updates and insights on Seacor Marine Ho stock.
SEACOR Marine Holdings Inc. (NYSE: SMHI) is a provider of marine and support transportation services to offshore energy facilities worldwide. News about SEACOR Marine often centers on how its diverse fleet of offshore support vessels is deployed across key offshore markets and how its operations evolve with changes in offshore wind, decommissioning and traditional offshore production and storage activities.
Company updates frequently include quarterly and annual earnings results, where SEACOR Marine reports operating revenues, operating income or loss, net income or loss and its non-GAAP measure, Direct Vessel Profit ("DVP"). These releases also provide operational statistics such as average day rates, fleet utilization and fleet available days, offering insight into pricing and activity levels across the fleet.
Investors following SMHI news will also see announcements on vessel sales and acquisitions, asset rotation and repositioning. SEACOR Marine has reported sales of platform supply vessels (PSVs), fast supply vessels (FSVs), liftboats and anchor handling towing supply (AHTS) vessels, as well as orders for new PSVs equipped with integrated battery energy storage systems. News items describe how sale proceeds are used to fund newbuild programs, refinance debt or repurchase equity securities.
Additional coverage includes financing transactions and capital structure developments, such as the entry into a senior secured term loan facility that consolidates existing debt and provides funding for PSV construction, and repurchases of common shares and warrants. Governance and sustainability-related news, including board appointments and the publication of a sustainability report, also appear in SEACOR Marine’s disclosures.
By tracking SEACOR Marine news, readers can monitor developments in its offshore support fleet, changes in regional market conditions referenced by the company, and the financial and strategic decisions it reports through press releases and SEC filings.
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SEACOR Marine Holdings (NYSE:SMHI) reported its second quarter results for 2020, revealing a net loss of $6.1 million ($0.24 loss per share) and an operating loss of $16.7 million. The company acquired the remaining 50% stake in SEACOSCO Offshore for $28.2 million, adding eight modern supply vessels to its fleet. Average dayrates increased to $11,018, up from $10,387 in Q2 2019. Despite challenges from COVID-19 and volatile oil prices, SEACOR Marine expects the new vessels to enhance cash flow and anticipates a $31.2 million tax refund from the CARES Act.
SEACOR Marine Holdings (NYSE: SMHI) has successfully acquired the remaining 50% equity interests in SEACOSCO Offshore LLC from COSCO SHIPPING GROUP, enhancing its fleet consolidation. This acquisition modernizes SEACOR Marine’s operations by integrating eight Rolls-Royce designed platform supply vessels (PSVs), with deliveries expected to complete this year. The company has also amended its $130 million loan facility to support this acquisition. CEO John Gellert expressed confidence in the growth potential following this strategic move.
SEACOR Marine Holdings Inc. (NYSE: SMHI) announced it expects to receive about $28.2 million in cash from tax refunds under the CARES Act, primarily due to net operating losses from 2018 and 2019. Of this amount, $23.7 million is anticipated within the next nine months. A Tax Refund and Indemnification Agreement was signed with its former parent, allowing this carryback. A $3.0 million fee will be paid to SEACOR Holdings for cooperation in the refund claims. This additional liquidity aims to support SEACOR Marine's financial stability amid COVID-19 impacts.
SEACOR Marine Holdings (NYSE: SMHI) announced the acquisition of the remaining 50% equity interest in SEACOSCO Offshore LLC from COSCO SHIPPING GROUP, resulting in full ownership of SEACOSCO. The $28.15 million transaction enhances the company's fleet with eight modern platform supply vessels, improving efficiency with hybrid battery systems.
This acquisition is projected to generate approximately $7 million EBITDA in 2020 and $18.5 million in 2021. The company expects to benefit from favorable debt terms associated with these vessels, significantly growing its asset base.
SEACOR Marine Holdings reported its Q1 2020 results, with total revenues of $41.7 million, down from $49.1 million in Q4 2019. The net loss was $15.9 million, or $0.66 per share. Average dayrates increased slightly to $11,157 from $11,071, reflecting a favorable fleet mix. The company acquired full ownership of Falcon Global Holdings, enhancing operational flexibility. Despite limited initial impact from COVID-19, the company anticipates greater revenue declines moving forward. Cost reduction efforts are ongoing, achieving $7.7 million of the targeted $8 million in annual savings.