859598--3/1/2007--SEACOR_HOLDINGS_INC

related topics

{operation, natural, condition}

{gas, price, oil}

{cost, regulation, environmental}

{operation, international, foreign}

{interest, director, officer}

{customer, product, revenue}

{loss, insurance, financial}

{investment, property, distribution}

{cost, contract, operation}

{personnel, key, retain}

Risks, Uncertainties and Other Factors That May Affect Future Results Demand for many of our services substantially depends on the level of activity in the offshore oil and natural gas exploration, development and production industry. We conduct international operations, which involve additional risks. Unstable political, military and economic conditions in foreign countries where a significant proportion of Offshore Marine Services operations are conducted could adversely impact our business. Offshore Marine Services, Marine Transportation Services and Aviation Services rely on several customers for a significant share of their revenues, the loss of which could adversely affect Offshore Marine Services , Marine Transportation Services and Aviation Services businesses and operating results. Consolidation of our customer base could adversely affect demand for our equipment and reduce our revenues. We may be unable to maintain or replace our vessels as they age. An increase in the supply of offshore support vessels or tankers would likely have an adverse impact on the charter rates earned by our offshore support vessels and tankers. If we do not restrict the amount of foreign ownership of our Common Stock, we could be prohibited from operating our offshore support vessels, inland river vessels and barges and tankers in parts of the U.S. and could be prohibited from operating our helicopters, which would adversely impact our business and operating results. Marine Transportation Services could lose Jones Act protection, which would result in additional competition. Failure to maintain an acceptable safety record may have an adverse impact on our ability to retain customers. The Outer Continental Shelf Lands Act, as amended, provides the federal government with broad discretion in regulating the leasing of offshore resources for the production of oil and gas. Operational risks could disrupt Offshore Marine Services, Marine Transportation Services, Harbor and Offshore Towing Services and Aviation Services and expose us to liability. Aviation Services may be subject to adverse weather conditions and seasonality. Revenue from our tanker segment and towing activities could be adversely affected by a decline in demand for domestic refined petroleum products, crude oil or chemical products, or a change in existing methods of delivery. Construction of additional refined petroleum product, natural gas or crude oil pipelines could have a material adverse effect on our tanker and towing revenues. We may have to phase-out some of our single-hull tankers from petroleum product transportation service in U.S. waters. We are subject to complex laws and regulations, including environmental laws and regulations that can adversely affect the cost, manner or feasibility of doing business. Spill response revenue is subject to significant volatility. A relaxation of oil spill regulation or enforcement could reduce demand for Environmental Services services. A change in, or revocation of, NRC s classification as an Oil Spill Removal Organization would result in a loss of business. Environmental Services could incur liability in connection with providing spill response services. Inland River Services could experience variation in freight rates. Inland River Services results of operations could be adversely affected by the decline in U.S. grain exports. Inland River Services results of operations could be adversely affected by international economic and political factors. Inland River Services results of operations are affected by seasonal activity. Inland River Services results of operations are affected by adverse weather and river conditions. Inland River Services results of operations could be materially and adversely affected by fuel price fluctuations. Our insurance coverage may be inadequate to protect the Company from the liabilities that could arise in our businesses. Our global operations are subject to currency exchange risks. Our inability to attract and retain qualified personnel could have an adverse effect on us.

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859598--3/1/2007--SEACOR_HOLDINGS_INC_/NEW/