Seacor Marine Holdings Inc. · NYSE:SMHI
Seacor Marine — 29th Annual Pareto Securities Energy Conference (September 2022)
34 slides from Seacor Marine's conference presentation, Sep 14, 2022
Slide 1: SEACOR Marine Holdings Inc. 29th Annual Pareto Securities Energy Conference
Exhibit 99.1 SEACOR Marine Holdings Inc. (NYSE: SMHI) 29th Annual Pareto Securities Energy Conference John Gellert President & Chief Executive Officer 15 September 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements discussed in this release as well as in other reports, materials and oral statements that SEACOR Marine Holdings Inc. (“SEACOR Marine” or the “Company”) releases from time to time to the public constitute “forward-looking statements” within the meaning o
Slide 3: Table of Content
Table of Content 4 Company Overview 1 ESG Commitments & Goals 9 2 Market Update 3 16 Financial & Operational Highlights 24 4 5 Appendix 31 seacormarine.com 3
Slide 4: Company Overview
Company Overview
Slide 5: SEACOR Marine Overview
SEACOR Marine Overview About Us Value Philosophy Global Fleet Financial Proposition Highlights • Leading provider of marine • Serving a diverse customer • Focused on capturing growth • Energy-efficient fleet • Average utilization rate of and support transportation base within the oil and gas opportu
Slide 6: Global Presence
Global Presence 80 Total Vessels United States 16 2 AHTSs Middle East 17 5 FSVs 6 Liftboats Europe 4 1 AHTS 3 PSVs 9 FSVs Mexico 21 4 PSVs 2 Liftboats 5 PSVs 5 FSVs 1 Liftboat 15 PSVs South America 8 2 FSVs West Africa 14 6 PSVs 3 AHTSs 9 FSVs 2 PSVs As of June 30, 2022. seacormarine.com 6
Slide 7: Optimal Fleet Mix
Optimal Fleet Mix AHTS FSV PSV LB 6 Anchor Handling Towing Supply 30 Fast Supply Vessels 35 Platform Supply Vessels 9 Liftboats • Optimal mix of shallow water and • Perform plug and abandonment, • Crew transfer and fast cargo• Self-propelled, self-elevating work decommissioning work, supply role, pl
Slide 8: ESG Commitments & Goals
SEACOR ESG Commitments & Goals
Slide 9: Reducing the Carbon Footprint
Reducing the Carbon Footprint ✓ Providing environmentally efficient operational practices to allow clients to meet their own environmental targets ✓ Alignment with international guidelines and regulations, including the Paris Climate Accord, the United Nations Sustainable Development Goals (SDG) and
Slide 10: Investing in Green Technology
Investing in Green Technology ✓ Industry pioneer in the use of hybrid power ✓ Planning for renewable fuel use as supply becomes available ✓ Leveraging technology to move sector toward more environmentally efficient processes ✓ Continuing to invest in hybrid power solutions and green technologies to
Slide 11: Snapshot of Worldwide Hybrid Fleet
Snapshot of Worldwide Hybrid Fleet Total of 164 Of the 164 Hybrid Hybrid Vessels Vessels, 69 are compared to 85 PSVs compared last year to 57 last year (12 (79 new units) additional units) Hybrid Average DWT is PSVs Hybrid Fleet 5,032 and deck 42% Other Hybrid area of 994 m² Vessels 58% 94% of the H
Slide 12: Decarbonization Strategies
Decarbonization Strategies ✓ First focus on consuming and emitting less • Less weight • Hull growth • Power management • Load / route optimization ✓ OSV owner / customer communication and buy-in • Shared priorities and goals ✓ Carbon offsets • Identify carbon intensity and seek opportunities to offs
Slide 13: A Look to the Future
A Look to the Future ✓ Smaller, more specialized industry • More production from fewer platforms / pipelines ✓ Higher “emission” efficiency • Increased focus on tracking and reporting emissions ✓ Requirement to decommission old platforms and pipelines • Regulatory enforcement • Environmental benefit
Slide 14: New Offshore Windfarm Construction Contract
New Offshore Windfarm Construction Contract ✓ SEACOR Marine has been awarded its first recent U.S. offshore windfarm project off the coast of Long Island, New York ✓ Southfork Wind Farm, a 50/50 JV between Ørsted and Eversource for 12 turbines that will generate 132 MW of clean energy ✓ Contract wit
Slide 15: Market Update
SEACOR Market Update
Slide 16: OSV Market Conditions and Current Trends
OSV Market Conditions and Current Trends Strong Fundamentals ✓ High commodity prices generating significant cash flow for OSV customers ✓ Capex spending of public E&P companies remains restrained ✓ Limited additional supply of vessels: time in lay-up, technical specifications not meeting commercial
Slide 17: Changes in the OSV Sector
Changes in the OSV Sector Industry contracting ✓ No new capital entering ✓ Insufficient operating returns to support / maintain current fleet Fewer owners ✓ No newbuilding orders for past several years and likely to continue operating fewer vessels Increased vessel specialization and technical sophi
Slide 18: Global Utilization for PSVs and AHTSs
Global Utilization for PSVs and AHTSs Source: Clarksons Research (August 2022). seacormarine.com 18
Slide 19: Limited Supply of OSVs
Limited Supply of OSVs Source: Global Offshore Navigator Westwood & Braemar ACM Analysis (June 2022). seacormarine.com 19
Slide 20: North Sea: Example of Limited Additional Supply
North Sea: Example of Limited Additional Supply Source: Clarksons Research (September 2022). seacormarine.com 20
Slide 21: Limited Supply of OSVs: Lay-up Analysis
Limited Supply of OSVs: Lay-up Analysis 2019 2022 1,039 active PSVs 1,123 active PSVs (8% increase) Availability of laid up boats suitable for reactivation is OSV Global Utilization shrinking fast ▪ Laid up 2019: 468 PSVs (56% of laid up more than 15 years old) ▪ Laid up Aug. 2022: 358 PSVs (70% of
Slide 22: Demand for PSVs
Demand for PSVs Number of Rigs, Year-End / YTD MODU Demand 2022 2020 2019 2021 % Change YTD 2022/21 Offshore Drilling Rig Demand North America 67 60 64 67 5% South & Central America 26 32 30 39 30% West Africa 29 15 20 24 20% Northwest Europe 61 44 50 61 22% Mediterranean 42 36 36 32 -11% Middle Eas
Slide 23: Financial & Operational Highlights
Financial & Operational Highlights
Slide 24: Improving Dayrates and Fleet Utilization
Improving Dayrates and Fleet Utilization 90% 12,000 80% 77% 73% 10,000 70% 70% 68% 67% 64% 62% 60% 59% 8,000 57% 57% 57% 56% 56% 55% 54% 52% 51% 50% 44% 6,000 43% 40% 40% 33% 30% 4,000 26% 20% 2,000 10% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2017 2017 2017 2018 2
Slide 25: Backlog Supporting Growth
Backlog Supporting Growth (1) Contract Revenue SMHI JV $96.1m $23.3m $170.9m $38.8m $34.0m $74.4m $58.1m $38.3m 2022 2023 2024+ Total As of June 30, 2022. (1) Contract revenue backlog is our expectation of revenues to be generated from existing and uncompleted contracts assuming that such contracts
Slide 26: Flexibility and Stability Through Diversification
Flexibility and Stability Through Diversification Enhance growth opportunity: Offshore Oil & Gas + Offshore Wind Percentage of Revenue by Region Percentage of Revenue by Vessel Class 22% U.S. 6% AHTS 28% Africa & Europe 31% FSV 38% Supply 28% Middle East 23% Liftboats 22% Latin America 2% Other For
Slide 27: Steady & Diversified Asset Base
Steady & Diversified Asset Base Property, Plant and Equipment & Joint Venture Investments (in $ million) PP&E JV 2% AHTS 75.3 118.0 71.7 75.9 25% Liftboats 120.8 88.9 34% FSV 37% Supply 753.7 723.5 712.4 690.6 660.9 640.6 2% Construction in Progress 2017 2018 2019 2020 2021 H1 2022 As of June 30, 20
Slide 28: Balance Sheet Highlights
Balance Sheet Highlights (in $ million) June 30, 2022 Cash & Cash Equivalents 22.6 Restricted Cash 3.3 Available Liquidity 25.9 Net PP&E 690.6 Investment, at Equity, and Advances to Joint Ventures 75.9 (1) Outstanding Debt (Current and Long-Term) 384.8 SMHI Stockholders’ Equity 413.2 Non-Controlling
Slide 29: Thank You and Q&A
SEACOR Thank You and Q&A
Slide 30: Appendix
SEACOR Appendix
Slide 31: Promoting Ocean Health & Minimizing Waste
Promoting Ocean Health & Minimizing Waste ✓ Protecting and preserving a healthy marine environment ✓ Conducting environmental impact risk assessments to ensure minimal impact on ocean health ✓ Conducting comprehensive research on waste production ✓ Implementation of effective waste reduction program
Slide 32: Deepening our Commitment to Diversity, Equity & Inclusion
Deepening our Commitment to Diversity, Equity & Inclusion ✓ Ensuring diversity fuels innovation to bring measurable benefit to all facets of operation ✓ Diversity, Equity and Inclusion Committee engagement to ensure employees from every background have access to equal and diversified employment oppo
Slide 33: Management Team
Management Team John Gellert President & Chief Executive Officer John Gellert is Chief Executive Officer and President of SEACOR Marine Holdings Inc. and a member of the company’s board of directors. Previously, he served as the Co-Chief Operating Officer of SEACOR Holdings Inc. in 2015, before bein
Slide 34: Management Team
Management Team Andrew H. Everett, II Senior Vice President, General Counsel & Corporate Secretary Andrew Everett is Senior Vice President, General Counsel and Secretary of SEACOR Marine, a position he has held since joining the company on January 22, 2018. Prior to working at SEACOR Marine, Mr. Eve
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