Seacor Marine Holdings reported consolidated operating revenues of $52.3 million for the fourth quarter ended December 31, 2025. This result represents a 25 per cent decrease from the $69.8 million recorded during the same period in 2024.
The company posted an operating loss of $5.2 million compared to an operating income of $10.6 million in the previous year. It attributed the lower turnover to a reduction in available vessel days following the sale of two 335-foot (102.11-metre) liftboats and one 201-foot (61.27-metre) platform supply vessel.
Chief Executive Officer John Gellert noted that results were also impacted by lower utilization for the liftboat fleet due to seasonality and changes in scope of work. Average day rates for the period were $17,519, representing a 7.3 per cent decline year-on-year.
Vessel utilisation reached 69 per cent, which the company noted was an increase from the 66 per cent seen in the third quarter of 2025. During the quarter, the company completed the sale of the aforementioned platform supply vessel for proceeds of $13.4 million.
This transaction resulted in a gain of $8.1 million, according to the financial statement. Net loss for the quarter stood at $14.6 million, which compares to a net loss of $26.2 million in the fourth quarter of 2024.
Contracted revenue backlog reached a total of $500 million at the end of the year. John Gellert stated that following the end of the fourth quarter, the company fixed two platform supply vessels in the North Sea for a multi-month seismic survey campaign.
The company expects this deployment to leave its large platform supply vessel fleet in a sold-out status for the first time in five years. Two liftboats in the Middle East were repositioned for maintenance and are not expected to work during the first quarter of 2026, the company reported.
Management incurred one-time charges of $1.2 million related to severance expenses as part of a cost-restructuring programme. The company stated it expects annualized savings of $3.9 million in administrative expenses from these initiatives.
Delivery of the first of two new platform supply vessels is scheduled for the fourth quarter of 2026. The construction programme is currently fully funded from the proceeds of recently concluded or contracted asset sales, according to the statement.
Gellert indicated that core markets outside the United States remain constructive over the long term. “An improving geopolitical outlook in certain markets could further improve demand for offshore services,” he added.