SEACOR Marine Holdings Inc

The OSV market is expected to face a deficit due to low order book levels and declining shipyard capacity, but growing demand from deep-water protects. SEACOR Marine is one of the major players in the industry. The company owns a fleet of 59 vessels at an average age of 9.1, operating globally. In September, the company signed a new $122 million secured credit facility. It consolidated five separate facilities, with maturities in 2023-2026. The consolidated maturity is moved to 2028. » Mehr auf seekingalpha.com

Shares of leading offshore transportation services provider SEACOR Marine Holdings reached a new 52-week high last week. Three weeks ago, the company managed to refinance an aggregate $104.6 million in near-term debt maturities with a new $122 million secured credit facility provided by affiliates of EnTrust Global. Unfortunately, terms of the new credit facility are less-than-stellar with SEACOR being required to pay interest at a rate of 11.75% p.a., substantially above the average of the refinanced facilities. » Mehr auf seekingalpha.com

The leading offshore support services provider reported decent first quarter results with revenues, average day rates, direct vessel profit, and EBITDA reaching new multi-year highs. With average day rates fleet utilization anticipated to improve further, the company should start to generate meaningful free cash flow over the coming quarters. A debt refinancing at improved terms could provide a near-term catalyst for the stock. » Mehr auf seekingalpha.com