PSV Operator Adds to Hybrid PSV Fleet

by Ship & Bunker News Team
Tuesday March 7, 2023

US-listed support vessel operator Seacor Marine Holdings is to add a hybrid platform support vessel to its fleet by upgrading an existing PSV.

Recent charter demand for its hybrid PSVs has given its chief executive reason to be upbeat on Seacor Marine's prospect for the year head.

"In light of these positive industry dynamics, we decided to build upon our industry leading position in hybrid PSVs by committing to upgrade one additional PSV to hybrid propulsion, bringing us to a total of seven hybrid PSVs (representing one-third of our PSV fleet)," CEO John Gellert said in the shipping firm's latest earnings release.

"After this conversion, we will have four additional PSVs that could be upgraded with the same technology.

"Tendering activity remains healthy and we plan to capture further repricing opportunities as contracts rollover, particularly as our customers engage in additional project startups and seasonality factors improve," Gellert added.

Seacor Marine recorded an operating loss in the fourth quarter of 2022 compared to the same period a year ago. However, revenue over the same period was up from $48 million to $58 million, according to the company. Direct vessel profit was also up over the period, it said.