SEACOR Marine Holdings Inc., a leading provider of marine and support transportation services tooffshore energy facilities worldwide, announced that it has entered into a new senior secured term loan of up to $391.0 milion with an affilities of EnTrust Global, (the “2024 SMEH Credit Faclity” and separate agreements to build two platform supply vessels(“PSVs”) for a contract price of $41.0 milion per vessel at China’s Fujian Mawei Shipbuilding for delivery in the fourth quarter of 2026 and the first quarter of 2027.
The Psvs are each 4,650 tons deadweightwith a 1,000 square meter deck area and equipped with medium speed diesel engines and an integrated battery energy storagesystem for higher fuel efficiency and lower running costs.
The 2024 SFH Credit Facility consolidates the Company’s debt capitastructure into a single credit facility maturing in the fourth quarter of 2029 and provides financing for the Shipbuilding Contracts. TheCompany also announced the entry into definitive agreements to sell two anchor handling towing and supply (“AHTS”) vessels fortotal proceeds of $22.5 million.
Seacor operates a fleet of 55 vessels, including 23 PSVs on a fully delivered basis.
John Gellert, SEACOR Marine’s chief Executive Officer, commented: “The new financing also allows us to retain financial fexibility and support our growth initiatives by financing up to 50% of our order of two PSvs. This order comes at a competitive price point and with an attractive delivery schedule of the fourth quarter of 2026 and first quarter of2027 for each of the PSVs. These vessels expand and complement our PSV feet as we implement our asset rotation strategy aimedat renewing our fleet with high-specification, environmentally efficient assets to replace older, ower specification assets. We will partly fund this new construction program with $22.5 milion of proceeds from the sales of our last remaining AHTs vessels marking our exit from the AHTS asset class effective january 2025.”