Seacor Sells Ships, Stake in Mexican Marine Services Company

Wednesday, March 08, 2006
According to reports, Houston-based marine services company Seacor Holdings Inc. on Monday said it has sold five vessels and its 40 percent stake in Maritime Mexicana SA de CV to diversified transportation company Grupo TMM SA for $57 million. Seacor, which serves the offshore oil and gas industry, said the five ships are working under time-charter contracts supporting drilling activity in the Gulf of Mexico. Mexico's Grupo TMM has flagged the ships as Mexican. Maritime Mexicana provides marine services along Mexico's Gulf Coast. Shares of Seacor dropped $1 to close at $74.52, while American depositary shares of Grupo TMM fell 10 cents to close at $4.40 on the New York Stock Exchange. Source: AP

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