SEACOR Marine Expands Fleet in Share Transaction

HOUMA, La.–(BUSINESS WIRE)–SEACOR Marine Holdings Inc. (NYSE: SMHI) (“SEACOR Marine” or the
“Company”) today announced the acquisition of three Fast Support Vessels
(“FSVs”) in exchange for the private placement of 603,872 shares of its
common stock to domestic U.S. holders affiliated with the McCall family
of Louisiana.

SEACOR Marine has operated the acquired vessels for the past ten years
under a revenue sharing pooling agreement along with four of its owned
FSVs of similar specification. As part of the transaction, this pooling
agreement was terminated. This will eliminate a negative adjustment in
recent years to SEACOR Marine’s revenue and Direct Vessel Profit (“DVP”)
that resulted from allocations of revenue among the pool participants.
In each of the past two years, this negative adjustment to SEACOR
Marine’s revenue has been approximately $2.4 million per year, the
majority of which resulted in a corresponding reduction in DVP.

With the addition of these three vessels, SEACOR Marine’s fleet of large
FSVs (hull length greater than 190 ft./58 meters) now consists of 20
vessels. These vessels have an average age of approximately 5.9 years
and all but three of the vessels are currently contracted. Of the
contracted vessels, 14 are operating internationally and three

John Gellert, SEACOR Marine’s Chief Executive Officer, commented: “We
are excited to expand our FSV fleet, a core asset segment for SEACOR
Marine. FSVs have become an integral component of the logistics chain
for offshore drilling and production operations due to their speed and
versatility. Further, they have weathered the industry downturn
remarkably well. Our large FSV models have notably maintained high
utilization rates through continued expansion into international
markets. Guyana and Saudi Arabia are the latest areas of international
expansion for SEACOR Marine’s FSV fleet.

“This transaction represents a clear continuation of SEACOR Marine’s
prudent growth strategy and commitment to actively managing our fleet.
Since the end of 2017, we have grown the net book value of our owned
fleet by more than $100 million, raised equity and bank debt, and in
separate joint ventures, acquired a modern, foreign flag supply vessel
fleet built in China and expanded in Brazil through the recently
announced acquisition of UP Offshore.

“On a personal note, I deeply appreciate the support provided to SEACOR
Marine by the McCall family. Mr. Norman McCall pioneered the development
of aluminum vessels in the oilfield and our innovations in this segment
would not have been possible without the contributions of him and his

FSVs are aluminum hull vessels built for speed, transporting cargo and
personnel at speeds up to 40 knots. SEACOR Marine is a worldwide market
leader in this asset category, operating 41 FSVs at December 31, 2018 in
the Gulf of Mexico, Latin America, West Africa, Mediterranean and the
Middle and Far East. Six of the 41 FSVs are catamaran hull forms
dedicated to passenger transport as a safe, efficient alternative to
helicopters. SEACOR Marine pioneered the use of catamarans in oilfield
service and currently transports approximately 30,000 passengers per
month on its aluminum vessels worldwide.

SEACOR Marine provides global marine and support transportation services
to offshore oil and natural gas and windfarm facilities worldwide.
SEACOR Marine and its joint ventures operate a diverse fleet of offshore
support and specialty vessels that deliver cargo and personnel to
offshore installations; handle anchors and mooring equipment required to
tether rigs to the seabed; tow rigs and assist in placing them on
location and moving them between regions; provide construction, well
workover and decommissioning support; and carry and launch equipment
used underwater in drilling and well installation, maintenance and
repair. Additionally, SEACOR Marine’s vessels provide accommodations for
technicians and specialists, safety support and emergency response

Certain statements discussed in this release as well as in other
reports, materials and oral statements that the Company releases from
time to time to the public constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995. Generally, words such as “anticipate,” “estimate,” “expect,”
“project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar
expressions are intended to identify forward-looking statements. Such
forward-looking statements concern management’s expectations, strategic
objectives, business prospects, anticipated economic performance and
financial condition and other similar matters. Forward-looking
statements are inherently uncertain and subject to a variety of
assumptions, risks and uncertainties that could cause actual results to
differ materially from those anticipated or expected by the management
of the Company. These statements are not guarantees of future
performance and actual events or results may differ significantly from
these statements. Actual events or results are subject to significant
known and unknown risks, uncertainties and other important factors, many
of which are beyond the Company’s control. It should be understood that
it is not possible to predict or identify all such factors.
Consequently, the preceding should not be considered to be a complete
discussion of all potential risks or uncertainties. Given these
risk factors, investors and analysts should not place undue reliance on
forward-looking statements. Forward-looking statements speak only as of
the date of the document in which they are made. The Company disclaims
any obligation or undertaking to provide any updates or revisions to any
forward-looking statement to reflect any change in the Company’s
expectations or any change in events, conditions or circumstances on
which the forward-looking statement is based, except as required by law.
It is advisable, however, to consult any further disclosures the Company
makes on related subjects in its filings with the Securities and
Exchange Commission, including Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K (if any). These
statements constitute the Company’s cautionary statements under the
Private Securities Litigation Reform Act of 1995.

Please visit SEACOR Marine’s website at
for additional information.


Connie Morinello, 985-858–6400