Loan & DebtMay 21, 2026, 05:12 PM
SEACOR Marine Modifies Credit Agreement, Sells 5 Vessels for $46.5M
AI Summary
SEACOR Marine Holdings Inc. modified its 2024 Credit Agreement, leading to the release of $13.7 million from a restricted escrow account and the cancellation of $24.6 million in undrawn Tranche B commitments. The remaining $41.0 million in escrow will fully fund the construction of two new platform supply vessels, expected for delivery in late 2026 and early 2027. Additionally, the company completed the sale of five vessels for $46.5 million, reducing its operating fleet to 38 support vessels.
Key Highlights
- SEACOR Marine modified its 2024 Credit Agreement on May 20, 2026.
- $13.7 million was released from a restricted escrow account to SEACOR Marine Foreign Holdings Inc.
- $24.6 million of undrawn commitments under Tranche B of the 2024 Credit Agreement were cancelled.
- The escrow account now holds $41.0 million, sufficient to fully fund remaining payments for two new PSVs.
- Two new platform supply vessels (PSVs) are expected to be delivered in Q4 2026 and Q1 2027.
- Five vessels (2 PSVs, 1 FSV, 2 liftboats) were sold for total gross proceeds of $46.5 million.
- The company's operating fleet now consists of 38 support vessels (20 FSVs, 15 PSVs, 3 liftboats).
Price Impact
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