SEACOR Marine Holdings Inc. (SMHI) Bundle
A Brief History of SEACOR Marine Holdings Inc. (SMHI)
Company Formation and Initial Public Offering
SEACOR Marine Holdings Inc. was founded in 2014 as a subsidiary of SEACOR Holdings Inc. The company operates in the marine and logistics sector, primarily focused on providing marine support services to the oil and gas industry. It became publicly traded on April 30, 2018, through an initial public offering (IPO), raising approximately $100 million. The share price at the IPO was set at $11 per share.
Acquisition of Assets
In its early years, SEACOR Marine expanded its fleet through strategic acquisitions. By the end of 2019, the company reported a fleet of 69 vessels, including platform supply vessels (PSVs) and anchor handling tug supply (AHTS) vessels. The total value of the fleet was estimated at $500 million.
Financial Performance
As of 2020, SEACOR Marine reported revenues of approximately $178 million. The company faced challenges due to fluctuations in oil prices and reduced demand for marine support services, resulting in a net loss of $31 million that year.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the marine industry. SEACOR Marine experienced a decline in utilization rates in 2020, with a drop to 50% from previous levels of around 70%. In response, the company implemented cost-cutting measures, including reducing headcount and deferring capital expenditures.
Recent Developments
In 2021, SEACOR Marine continued to navigate challenging market conditions. The revenue for the year was reported at approximately $194 million, reflecting a gradual recovery. The company also began focusing on digital transformation and sustainability initiatives within its operations.
| Year | Revenue (in millions) | Net Income (in millions) | Fleet Size |
|---|---|---|---|
| 2018 | 100 | - | 15 |
| 2019 | 178 | -31 | 69 |
| 2020 | 178 | -31 | 69 |
| 2021 | 194 | - | 69 |
Market Position
As of 2022, SEACOR Marine Holdings Inc. was ranked among the top marine support service providers in the Gulf of Mexico, with a market share of approximately 10%. The company’s strategic focus included expanding its operations in international markets, particularly in Latin America and West Africa.
Stock Performance
The share price of SEACOR Marine fluctuated in the following years, peaking at $14.50 in mid-2021 before settling around $11.00 towards the end of 2022. The market capitalization was approximately $350 million at the close of 2022.
| Year | Stock Price (Year-End) | Market Capitalization (in millions) |
|---|---|---|
| 2018 | 11.00 | 300 |
| 2019 | 8.50 | 230 |
| 2020 | 7.00 | 200 |
| 2021 | 14.50 | 375 |
| 2022 | 11.00 | 350 |
Future Outlook
Moving into 2023, SEACOR Marine Holdings is poised to capitalize on the recovery of the oil and gas sector. The management forecasts an increase in demand for marine support services, potentially leading to revenue growth of 15% year-over-year. The company aims to invest in modernizing its fleet and enhancing operational efficiencies.
A Who Owns SEACOR Marine Holdings Inc. (SMHI)
Major Shareholders
The ownership structure of SEACOR Marine Holdings Inc. is characterized by a mix of institutional and individual investors. As of the latest available data, the following are significant holders:
| Shareholder | Ownership Percentage | Number of Shares Owned | Type of Holder |
|---|---|---|---|
| SEACOR Holdings Inc. | 42.8% | 9,900,000 | Institutional |
| M&G Investment Management Limited | 6.0% | 1,380,000 | Institutional |
| BlackRock, Inc. | 5.5% | 1,260,000 | Institutional |
| 2M Partners LLC | 4.9% | 1,120,000 | Institutional |
| Individual Investors | 40.8% | 9,300,000 | Retail |
Share Performance
As of the latest trading day, SEACOR Marine Holdings Inc. (SMHI) has demonstrated notable fluctuations in its stock price. The stock performance includes:
| Metric | Value |
|---|---|
| Current Stock Price | $9.75 |
| 52-Week High | $14.00 |
| 52-Week Low | $6.50 |
| Market Capitalization | $250 million |
| Price-to-Earnings (P/E) Ratio | 15.5 |
Board of Directors
The governance structure includes a diverse Board of Directors. Key members include:
| Name | Position | Years on Board |
|---|---|---|
| Charles Fabrikant | Executive Chairman | 20 |
| Owen Kratz | President & CEO | 10 |
| Marilyn D. Dyer | Independent Director | 5 |
| James R. Crowe | Independent Director | 7 |
| Roderick J. McNair | Independent Director | 3 |
Institutional Ownership Trends
Institutional ownership trends reflect broader investment strategies:
| Year | Percentage Owned by Institutions | Percentage Owned by Retail Investors |
|---|---|---|
| 2020 | 38.5% | 61.5% |
| 2021 | 41.2% | 58.8% |
| 2022 | 44.0% | 56.0% |
| 2023 | 43.0% | 57.0% |
Recent Changes in Ownership
Recent filings have indicated shifts in ownership stakes and activity, including:
- SEACOR Holdings Inc. increased its stake by 5% in Q2 2023.
- M&G Investment Management Limited reduced its holding by 2% in Q1 2023.
- BlackRock, Inc. has maintained a steady stake over the last year.
- 2M Partners LLC acquired an additional 200,000 shares in recent months.
Voting Power Distribution
The distribution of voting power among shareholders is crucial for corporate governance:
| Shareholder | Voting Power (%) |
|---|---|
| SEACOR Holdings Inc. | 42.8% |
| M&G Investment Management Limited | 6.0% |
| BlackRock, Inc. | 5.5% |
| 2M Partners LLC | 4.9% |
| Other Shareholders | 40.8% |
SEACOR Marine Holdings Inc. (SMHI) Mission Statement
Corporate Vision
SEACOR Marine Holdings Inc. aims to be a leading provider of marine and logistics services in support of the global offshore energy industry. Their mission is to deliver safe, reliable, and efficient services through innovative solutions.
Core Values
- Safety: Commitment to maintaining the highest safety standards.
- Integrity: Conducting business ethically and transparently.
- Reliability: Ensuring dependable operations and service delivery.
- Innovation: Embracing technology and creative problem-solving.
- Customer Focus: Prioritizing client needs and expectations.
Financial Overview
As of December 31, 2022, SEACOR Marine Holdings reported a revenue of $122.2 million, representing a growth of 11% compared to the previous year. The company's operating income for the same period was $17.8 million.
Market Position
The company operates a fleet of approximately 70 vessels, strategically positioned to serve markets in the Gulf of Mexico, West Africa, and Southeast Asia. Their market capitalization as of October 2023 was approximately $187 million.
Service Offerings
| Service Type | Vessel Type | Number of Vessels | Region |
|---|---|---|---|
| Support Vessels | AHTS (Anchor Handling Tug Supply) | 30 | Gulf of Mexico |
| Utility Vessels | PSV (Platform Supply Vessel) | 25 | West Africa |
| Specialized Vessels | CSV (Construction Support Vessel) | 15 | Southeast Asia |
Environmental Commitment
SEACOR Marine Holdings is committed to sustainability practices, aiming to reduce their carbon footprint by implementing advanced eco-friendly technologies across their fleet. They are actively involved in initiatives to comply with international regulations regarding emissions and environmental protection.
Safety Performance Metrics
| Year | Incident Rate | Days Lost | Training Hours |
|---|---|---|---|
| 2020 | 0.54 | 120 | 15,000 |
| 2021 | 0.47 | 95 | 18,000 |
| 2022 | 0.35 | 75 | 20,000 |
Future Goals
By 2025, SEACOR Marine Holdings aims to enhance their fleet capabilities and expand operations into new geographical areas, targeting a revenue growth of 20% and a further reduction in incident rates by 20%.
How SEACOR Marine Holdings Inc. (SMHI) Works
Business Overview
SEACOR Marine Holdings Inc. is a provider of marine support services to the offshore oil and gas industry. The company specializes in offering vessels and support services, including crew boats, anchor handling tug supply vessels, and other specialized marine transportation services.
Fleet Composition
The company operates a diverse fleet of vessels designed for various marine activities. As of the end of 2022, SEACOR Marine's fleet included:
| Vessel Type | Number of Vessels | Year Built (Range) | Average Daily Rate (USD) |
|---|---|---|---|
| Crew Boats | 30 | 1990 - 2022 | 3,500 |
| Anchor Handling Tug Supply Vessels | 15 | 2000 - 2022 | 8,000 |
| Supply Vessels | 25 | 1995 - 2022 | 6,000 |
| Other Specialty Vessels | 10 | 2005 - 2022 | 5,500 |
Operational Segments
- Marine Logistics
- Transportation Services
- Vessel Management
Geographical Presence
SEACOR Marine operates across various regions, catering to the needs of the offshore industry.
| Region | Percentage of Revenue | Key Markets |
|---|---|---|
| North America | 40% | Gulf of Mexico |
| South America | 30% | Brazil, Colombia |
| West Africa | 20% | Nigeria, Angola |
| Middle East | 10% | UAE, Saudi Arabia |
Financial Performance
As reported in their Q3 2023 financial results, SEACOR Marine Holdings Inc. had the following key financial metrics:
| Metric | Value (USD) |
|---|---|
| Revenue | 75 million |
| Net Income | 10 million |
| Total Assets | 450 million |
| Debt to Equity Ratio | 0.5 |
Recent Developments
- Acquisition of new vessels to enhance fleet capabilities in 2023.
- Expansion of operations in the South American market, increasing presence in Brazil by 15%.
- Partnership with technological firms to implement advanced marine tracking systems.
Market Challenges
The company faces various challenges in the marine services industry, including:
- Fluctuating oil prices impacting demand.
- Environmental regulations affecting operational costs.
- Competition from other marine service providers.
Future Outlook
SEACOR Marine Holdings Inc. aims to continue expanding its fleet and geographical presence, focusing on technological advancements and sustainability efforts.
How SEACOR Marine Holdings Inc. (SMHI) Makes Money
Business Overview
SEACOR Marine Holdings Inc. (SMHI) operates in the offshore marine services sector, primarily focusing on providing support to the oil and gas industry. The company’s revenue streams consist of a range of services including, but not limited to, vessel chartering, marine logistics, and specialized offshore services.
Revenue Sources
- Vessel Operations and Chartering
- Marine Logistics Services
- Specialized Services
- Asset Management & Consulting Services
Vessel Operations and Chartering
SEACOR Marine's primary revenue generation comes from chartering its fleet of vessels. The company owns and operates a diverse fleet of approximately 100 vessels, which includes platform supply vessels, anchor handling tug supply vessels, and crew boats.
In 2022, SEACOR Marine reported revenue from vessel operations amounting to $139.1 million, representing a significant increase compared to $88.2 million in 2021.
Marine Logistics Services
This segment encompasses the transportation of goods and personnel to offshore installations, including oil rigs.Total revenue from marine logistics in 2022 was $45.3 million, reflecting a rise from $30.1 million in 2021.
Specialized Services
SEACOR Marine provides specialized services such as underwater inspection, maintenance, and repair services. In 2022, these services generated approximately $28.5 million in revenue, compared to $24.7 million in 2021.
Financial Performance Overview
The financial performance of SEACOR Marine can be evaluated by examining its key financial metrics:
| Year | Total Revenue | Gross Profit | Net Income | EBITDA |
|---|---|---|---|---|
| 2022 | $212.9 million | $66.5 million | $21.1 million | $51.2 million |
| 2021 | $143.0 million | $39.0 million | $4.7 million | $28.2 million |
| 2020 | $110.5 million | $26.9 million | -$2.3 million | $15.8 million |
Market Position and Competitive Advantage
SEACOR Marine's competitive advantage lies in its extensive fleet capabilities and established relationships within the offshore oil and gas sector.
The company operates primarily in strategic locations such as the Gulf of Mexico, Southeast Asia, and West Africa, which are significant markets for offshore oil exploration and production.
Future Outlook
As of 2023, SEACOR Marine continues to adapt its business model in response to market demands, with an optimistic outlook for revenue growth.
Forecasted revenue for 2023 is projected at approximately $250 million, driven by increased global oil demand and higher offshore activities.
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