SEACOR Marine Holdings Inc. reported consolidated operating revenues of $57.9 million for Q4 2022, with an operating loss of $10.5 million and a direct vessel profit of $13.6 million. The company achieved an average utilization rate of 76%, the highest for a fourth quarter since 2013. Despite a decrease in DVP due to higher maintenance expenses, the company extended the maturity of senior convertible debt and committed to upgrading an additional PSV to hybrid propulsion.
Consolidated operating revenues reached $57.9 million.
Operating loss was $10.5 million.
Direct vessel profit was $13.6 million.
Average utilization rate was 76%, the highest for a fourth quarter since 2013.
SEACOR Marine anticipates a stronger DVP conversion rate due to recent chartering activity for liftboats and hybrid PSVs, and plans to capture repricing opportunities as contracts rollover, however, timing is uncertain for repairing and returning the weather related damaged liftboat to service.
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