Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments for the periods indicated (in thousands):

	United States (primarily Gulf of Mexico)			Africa and Europe		Middle East and Asia		Latin America		Total
For the Three Months Ended September 30, 2024
Operating Revenues:
Time charter	$	6,593		$	28,809	$	16,411	$	11,500	$	63,313
Bareboat charter		—			—		—		372		372
Other marine services		1,188			3,048		375		620		5,231
		7,781			31,857		16,786		12,492		68,916
Direct Costs and Expenses:
Operating:
Personnel		6,297			6,083		5,769		3,791		21,940
Repairs and maintenance		1,655			3,455		3,318		1,517		9,945
Drydocking		2,615			681		832		1,940		6,068
Insurance and loss reserves		799			599		927		259		2,584
Fuel, lubes and supplies		964			2,514		1,043		2,053		6,574
Other		225			3,975		1,131		465		5,796
		12,555			17,307		13,020		10,025		52,907
Direct Vessel (Loss) Profit	$	(4,774	)	$	14,550	$	3,766	$	2,467		16,009
Other Costs and Expenses:
Lease expense	$	140		$	75	$	73	$	76		364
Administrative and general											11,019
Depreciation and amortization		3,194			4,540		3,261		1,933		12,928
											24,311
Gains on asset dispositions and impairments, net											1,821
Operating loss										$	(6,481	)

	United States (primarily Gulf of Mexico)			Africa and Europe			Middle East and Asia			Latin America			Total
For the Nine Months Ended September 30, 2024
Operating Revenues:
Time charter	$	21,247		$	76,411		$	50,961		$	39,606		$	188,225
Bareboat charter		—			—			—			1,100			1,100
Other marine services		2,694			4,245			1,344			3,945			12,228
		23,941			80,656			52,305			44,651			201,553
Direct Costs and Expenses:
Operating:
Personnel		18,362			16,233			18,662			11,919			65,176
Repairs and maintenance		4,938			9,825			9,473			5,716			29,952
Drydocking		7,153			3,939			3,022			4,870			18,984
Insurance and loss reserves		2,138			1,752			2,343			1,188			7,421
Fuel, lubes and supplies		2,497			4,971			3,344			4,251			15,063
Other		280			8,975			3,120			1,555			13,930
		35,368			45,695			39,964			29,499			150,526
Direct Vessel (Loss) Profit	$	(11,427	)	$	34,961		$	12,341		$	15,152			51,027
Other Costs and Expenses:
Lease expense	$	419		$	425		$	229		$	258			1,331
Administrative and general														33,825
Depreciation and amortization		9,138			13,020			10,004			6,587			38,749
														73,905
Gains on asset dispositions and impairments, net														1,857
Operating loss													$	(21,021	)
As of September 30, 2024
Property and Equipment:
Historical Cost	$	198,688		$	332,880		$	250,456		$	139,421		$	921,445
Accumulated Depreciation		(103,139	)		(119,953	)		(97,997	)		(41,515	)		(362,604	)
	$	95,549		$	212,927		$	152,459		$	97,906		$	558,841
Total Assets (1)	$	119,579		$	260,352		$	175,236		$	118,301		$	673,468

(1)Total Assets by region does not include corporate assets of $36.0 million as of September 30, 2024.

	United States (primarily Gulf of Mexico)		Africa and Europe		Middle East and Asia		Latin America			Total
For the Three Months Ended September 30, 2023
Operating Revenues:
Time charter	$	16,236	$	22,528	$	16,087	$	13,817		$	68,668
Bareboat charter		—		—		—		368			368
Other marine services		5,478		1,943		267		176			7,864
		21,714		24,471		16,354		14,361			76,900
Direct Costs and Expenses:
Operating:
Personnel		6,712		5,089		5,157		2,985			19,943
Repairs and maintenance		1,560		2,214		2,623		1,021			7,418
Drydocking		462		320		1,056		(70	)		1,768
Insurance and loss reserves		332		573		711		217			1,833
Fuel, lubes and supplies		958		2,573		743		773			5,047
Other		375		2,448		943		367			4,133
		10,399		13,217		11,233		5,293			40,142
Direct Vessel Profit	$	11,315	$	11,254	$	5,121	$	9,068			36,758
Other Costs and Expenses:
Lease expense	$	116	$	372	$	59	$	104			651
Administrative and general											12,300
Depreciation and amortization		3,810		3,821		3,721		2,110			13,462
											26,413
Losses on asset dispositions and impairments, net											(512	)
Operating income										$	9,833

	United States (primarily Gulf of Mexico)			Africa and Europe			Middle East and Asia			Latin America			Total
For the Nine Months Ended September 30, 2023
Operating Revenues:
Time charter	$	28,921		$	65,938		$	48,678		$	41,350		$	184,887
Bareboat charter		—			—			—			1,092			1,092
Other marine services		12,332			2,393			3,806			1,918			20,449
		41,253			68,331			52,484			44,360			206,428
Direct Costs and Expenses:
Operating:
Personnel		19,204			14,427			15,264			10,795			59,690
Repairs and maintenance		4,327			6,817			4,519			3,559			19,222
Drydocking		2,011			1,648			(723	)		1,101			4,037
Insurance and loss reserves		2,455			1,311			2,616			630			7,012
Fuel, lubes and supplies		2,665			6,207			2,310			2,322			13,504
Other		952			7,805			2,828			1,331			12,916
		31,614			38,215			26,814			19,738			116,381
Direct Vessel Profit	$	9,639		$	30,116		$	25,670		$	24,622			90,047
Other Costs and Expenses:
Lease expense	$	395		$	1,209		$	202		$	263			2,069
Administrative and general														37,636
Depreciation and amortization		11,206			11,599			11,117			6,877			40,799
														80,504
Gains on asset dispositions and impairments, net														3,352
Operating income													$	12,895
As of September 30, 2023
Property and Equipment:
Historical Cost	$	215,592		$	272,312		$	285,721		$	162,895		$	936,520
Accumulated Depreciation		(96,597	)		(89,338	)		(98,481	)		(34,133	)		(318,549	)
	$	118,995		$	182,974		$	187,240		$	128,762		$	617,971
Total Assets (1)	$	155,613		$	212,048		$	210,401		$	147,479		$	725,541

(1)Total Assets by region does not include corporate assets of $54.8 million as of September 30, 2023.