SEACOR Marine to sell two liftboats for $76 million

HOUSTON - SEACOR Marine Holdings Inc. (NYSE:SMHI) announced Thursday it has entered into definitive agreements to sell two 335-foot class liftboats to JAD Construction Limited for $76 million in cash, with an estimated gain of $30.5 million on the transaction. The sale represents half of the company’s current market capitalization of $153 million, according to InvestingPro data.

The offshore energy transportation services provider expects to close the sale during the third quarter of 2025, subject to customary closing conditions and regulatory approvals. The vessels being sold are unencumbered by debt, a significant consideration given the company’s total debt of $342 million. InvestingPro analysis reveals 11 additional key insights about SEACOR Marine’s financial health and growth prospects.

According to the company, the transaction aligns with its strategic shift away from high volatility markets, particularly reducing exposure to offshore wind and decommissioning sectors that have experienced prolonged periods of softer demand due to deferrals and cancellations. This strategic move comes as the company maintains a healthy current ratio of 1.63, indicating sufficient liquid assets to meet short-term obligations.

The sale will also eliminate anticipated costs and downtime associated with lengthy repairs scheduled to begin in October 2025 for one of the vessels.

"This transaction continues our strategic shift away from high volatility markets at a sales price that reflects the deep value of our fleet," said John Gellert, Chief Executive Officer of SEACOR Marine, in a press release statement.

SEACOR Marine provides transportation services to offshore energy facilities worldwide, including cargo and personnel transport to offshore installations, support for offshore operations, and emergency response services.

The company operates a fleet of offshore support vessels serving various markets including offshore wind farms, production and storage facilities, and drilling operations.

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