Seabulk Issues Second Quarter Guidance

Monday, July 21, 2003
Seabulk Issues Second Quarter Guidance Seabulk International has announced for the second quarter ended June 30, 2003, it expects to report revenue of at least $78.0 million, income from operations of at least $10.5 million, and depreciation, amortization and drydocking of approximately $16.2 million. For the three months ended June 30, 2002, the Company reported revenue of $81.6 million, income from operations of $8.5 million, and depreciation, amortization and drydocking of $16.6 million. Average day rates for the Company's anchor-handling tug/supply vessels and supply boats at June 30, 2003 were approximately $5,000 in the Gulf of Mexico, $7,200 in West Africa, $3,600 in the Middle East and $5,200 in Southeast Asia. Seabulk expects to report its full results for the quarter ended June 30, 2003 and file its Form 10-Q on or about August 14, 2003.

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