Seacor terminates pooling agreement

Seacor Marine Holdings Inc. of Houma, La., announced Jan. 10 that it has acquired 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 three vessels for the past 10 years under a revenue sharing pooling agreement along with four of its owned FSVs. As part of the transaction, the pooling agreement was terminated. This will eliminate a $2.4M annual negative adjustment to Seacor Marine’s revenue and direct vessel profit (DVP). Seacor Marine had 41 FSVs as of Dec. 31, 2018, in the Gulf of Mexico, Latin America, West Africa, Mediterranean and the Middle and Far East. Seacor Marine provides global marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide. (Source: Work Boat 01/11/19)