SEACOR Marine Announces Joint Venture with Affiliates of COSCO SHIPPING GROUP

Contracts purchase of eight platform supply vessels

HOUMA, La.–(BUSINESS WIRE)–SEACOR Marine Holdings Inc. (NYSE:SMHI) (“SEACOR Marine”), a leading
provider of global marine and support transportation services to
offshore oil and gas exploration, development and production facilities
worldwide, today announced the final formation of SEACOSCO Offshore LLC,
a jointly owned Marshall Islands company (“SEACOSCO”) with affiliates of
COSCO SHIPPING GROUP, the world’s largest ship owner.

SEACOSCO entered into contracts for the purchase of eight Rolls-Royce
designed new construction platform supply vessels (“PSVs”) from COSCO
SHIPPING HEAVY INDUSTRY (GUANGDONG) CO., LTD (the “Shipyard”). Six of
the PSVs are of UT 771WP design (4,400 tons deadweight) and two are of
UT 771CD design (3,800 tons deadweight).

SEACOSCO will take title to seven of the PSVs in 2018 and one in 2019.
Thereafter, the Shipyard, at their cost, will store the PSVs at their
facility for periods ranging from six to 18 months. The storage period
can be shortened by mutual agreement.

Separately, SEACOSCO contracted with Rolls-Royce Marine AS to outfit six
of the PSVs with a state-of-the-art battery energy storage system
designed to reduce fuel consumption and enhance the safety and
redundancy of the vessels’ systems. This follows SEACOR Marine’s recent
order for battery energy storage systems on four large PSVs in Mexico.

John Gellert, SEACOR Marine’s Chief Executive Officer, commented: “We
are excited to partner with COSCO SHIPPING GROUP. We are confident that
we have structured a transaction that meets the needs of the Shipyard
while also managing the cash outlay from the equity owners. The acquired
vessels will modernize our operating fleet and expand our offerings to
our customers. Combining a proven and advanced design, best in category
accommodations, and the innovative Rolls-Royce battery system, these
vessels will be highly marketable across all major offshore energy
regions worldwide.”

SEACOSCO will be funded 30% with equity and 70% with debt financing
secured by the PSVs on a non-recourse basis to the equity owners.
Aggregate total consideration for the eight PSVs, including the battery
system, is approximately $161.1 million. SEACOR Marine’s total cash
outlay is approximately $22.4 million, with approximately $20.0 million
payable in the first quarter of 2018 and the balance due over the next
14 months as vessels and the Rolls Royce battery equipment are delivered.

SEACOR Marine will be responsible for full commercial, operational, and
technical management of the vessels on a worldwide basis under a
separate management agreement with SEACOSCO.

Forward Looking Statements

Certain statements discussed in this release as well as in other
reports, materials and oral statements that the Company releases from
time to time to the public constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995. Generally, words such as “anticipate,” “estimate,” “expect,”
“project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar
expressions are intended to identify forward-looking statements. Such
forward-looking statements concern management’s expectations, strategic
objectives, business prospects, anticipated economic performance and
financial condition and other similar matters. These statements
are not guarantees of future performance and actual events or results
may differ significantly from these statements. Actual events or
results are subject to significant known and unknown risks,
uncertainties and other important factors, including decreased demand
and loss of revenues as a result of a decline in the price of oil and
resulting decrease in capital spending by oil and gas companies, an
oversupply of newly built offshore support vessels, additional safety
and certification requirements for drilling activities in the U.S. Gulf
of Mexico and delayed approval of applications for such activities, the
possibility of U.S. government implemented moratoriums directing
operators to cease certain drilling activities in the U.S. Gulf of
Mexico and any extension of such moratoriums, weakening demand for the
Company’s services as a result of unplanned customer suspensions,
cancellations, rate reductions or non-renewals of vessel charters or
failures to finalize commitments to charter vessels in response to a
decline in the price of oil, increased government legislation and
regulation of the Company’s businesses could increase cost of
operations, increased competition if the Jones Act and related
regulations are repealed, liability, legal fees and costs in connection
with the provision of emergency response services, such as the response
to the oil spill as a result of the sinking of the Deepwater Horizon in
April 2010, decreased demand for the Company’s services as a result of
declines in the global economy, declines in valuations in the global
financial markets and a lack of liquidity in the credit sectors,
including, interest rate fluctuations, availability of credit, inflation
rates, change in laws, trade barriers, commodity prices and currency
exchange fluctuations, the cyclical nature of the oil and gas industry,
activity in foreign countries and changes in foreign political, military
and economic conditions, including as a result of the recent vote in the
U.K. to leave the European Union, changes in foreign and domestic oil
and gas exploration and production activity, safety record requirements,
compliance with U.S. and foreign government laws and regulations,
including environmental laws and regulations and economic sanctions, the
dependence on several key customers, consolidation of the Company’s
customer base, the ongoing need to replace aging vessels, industry fleet
capacity, restrictions imposed by the Jones Act and related regulations
on the amount of foreign ownership of the Company’s Common Stock,
operational risks, effects of adverse weather conditions and
seasonality, adequacy of insurance coverage, the ability to remediate
the material weaknesses the Company has identified in its internal
controls over financial reporting, the attraction and retention of
qualified personnel by the Company, and various other matters and
factors, many of which are beyond the Company’s control as well as those
discussed in “Risk Factors” included in the Information Statement filed
as Exhibit 99.1 to Amendment No. 3 to the Company’s Registration
Statement on Form 10 and other reports filed by the Company with the SEC.
It should be understood that it is not possible to predict or
identify all such factors. Consequently, the preceding should not
be considered to be a complete discussion of all potential risks or
uncertainties. Forward-looking statements speak only as of the
date of the document in which they are made. The Company disclaims any
obligation or undertaking to provide any updates or revisions to any
forward-looking statement to reflect any change in the Company’s
expectations or any change in events, conditions or circumstances on
which the forward-looking statement is based, except as required by law.
It is advisable, however, to consult any further disclosures the
Company makes on related subjects in its filings with the Securities and
Exchange Commission, including Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any).
These statements constitute the Company’s cautionary statements under
the Private Securities Litigation Reform Act of 1995.

About SEACOR Marine

SEACOR Marine provides global marine and support transportation services
to offshore oil and gas exploration, development and production
facilities worldwide. SEACOR Marine currently operates a diverse fleet
of offshore support and specialty vessels that deliver cargo and
personnel to offshore installations; handle anchors and mooring
equipment required to tether rigs to the seabed; tow rigs and assist in
placing them on location and moving them between regions; provides
construction, well workover and decommissioning support; and carry and
launch equipment used underwater in drilling and well installation,
maintenance and repair. Additionally, SEACOR Marine’s vessels provide
accommodations for technicians and specialists, safety support and
emergency response services.

Please visit SEACOR Marine’s website at www.seacormarine.com
for additional information.

About COSCO SHIPPING GROUP

The total fleet of COSCO SHIPPING GROUP comprises of 1114 vessels with a
capacity of 85.32 million DWT, ranking No.1 in the world. Its container
fleet capacity is 1.58 million TEU, ranking the fourth in the world. Its
self-owned dry bulk fleet (365 vessels/33.52 million DWT), tanker
fleet(120 vessels/17.85 million DWT), general cargo and specialized
cargo fleet (3 million DWT), are No.1 in the world in terms of capacity.

COSCO SHIPPING GROUP owns over 46 container terminals all over the
world, with over 190 berthing spaces. The throughput of its container
terminals worldwide amounts to 90 million TEU, taking the second place
in the world; the global sales volume of its ship bunker fuel exceeds 25
million tons, topping the world’s list; the container leasing business
scale surpasses 2.7 million TEU, which is the third-largest in the
world; and its offshore engineering manufacturing competence and vessel
agency business are also leading in the world.

The vision of COSCO SHIPPING GROUP is to undertake the mission of
globalizing Chinese economy, consolidate advantageous resources, take
global shipping, integrated logistics, and shipping related financial
services as core business, and develop diversified industrial clusters,
so as to build a world-leading business entity that provides integrated
logistics and supply chain services.

Focusing on four strategic dimensions, which are “scale growth,
profitability, anti-cyclical capability and building a global company”,
the Group highlights the “6+1” industrial clusters layout. The “6” is
shipping, logistics, finance, equipment manufacturing, shipping
services, and social services industrial clusters. The “1” means
“Internet Plus” business based on business model innovation. This layout
will help facilitate the integration of shipping factors and build a
world-class logistics service provider.

Please visit COSCO SHIPPING GROUP’s website at http://en.coscoshipping.com
for additional information.

Contacts

SEACOR Marine Holdings Inc.
Erica Bartsch, 212-446-1875
[email protected]