SEACOR Marine Holdings Inc. (NYSE:SMHI), a leading provider of global marine and support transportation services to offshore oil and gas exploration, development and production facilities worldwide, yesterday announced consummation of the acquisition of four foreign flagged platform supply vessels (“PSVs”).

The Company and the Sellers agreed to keep the exact terms of the transaction confidential but confirmed aggregate consideration for the four vessels was in the range of $7.0.-9.0 million in cash.

SEACOR Marine Announces Vessel Acquisitions
Caption: Offshore tug/supply ship Seacor Leopard (Image for illustrative purposes only) - Photo courtesy of Seacor Marine

The four vessels are mid-size PSVs of UT 755LN design (approx. 3,250 deadweight) built between 2009 and 2010 with dynamic positioning class two systems.

All the vessels are currently located in West Africa, all have valid regulatory trading certificates, and three of the four are presently employed on time charters.

John Gellert, the Company’s Chief Executive Officer, commented: “We are pleased to have successfully concluded this transaction after a lengthy process. We believe the price represents strong value for the vessels and offers a compelling use of a portion of our cash reserves.”

Source: Seacor Marine