ISC Advances Towards Emergence from Bankruptcy as SEACOR Holding Inc. Subsidiary

International Shipholding Corporation ("ISH" or the "Company") today announced that it has received the necessary approvals from the U.S. Department of Transportation Maritime Administration thereby satisfying certain conditions precedent to the e?ectiveness of the First Amended Modi?ed Joint Plan of Reorganization (the "Plan of Reorganization"), which was con?rmed by the United States Bankruptcy Court for the Southern District of New York on March 2, 2017. The Company will emerge from bankruptcy as a subsidiary of SEACOR Holdings Inc. ("SEACOR") (NYSE: CKH) following the satisfaction of the remaining conditions to e?ectiveness and on a date to be speci?ed by the Company (as de?ned in the Plan of Reorganization, the "E?ective Date"). The Company (in consultation with SEACOR) is currently targeting the occurrence of the E?ective Date on or prior to July 3, 2017.

"This has been a long and challenging process. We are most thankful for the support of our dedicated employees, customers, and suppliers during this transition. That support has been integral to the signi?cant progress made towards a successful outcome of the Chapter 11 process," said President and CEO, Erik L. Johnsen. "Through the leadership and capabilities of SEACOR, upon emergence from bankruptcy International Shipholding will emerge as a stable, well-capitalized business with a bright future."

"Today marks the achievement of an important step towards a restructuring transaction that will allow the Company to move forward with a solid ?nancial and operational foundation under the SEACOR umbrella of companies," said SEACOR Holdings Inc. Chief Operating O?cer, Eric Fabrikant. "The combination of ISH's longstanding history of excellent customer service and SEACOR's ?nancial resources will ensure continued growth and success at International Shipholding."

Additional information about the Company's restructuring and the Plan of Reorganization may be obtained by visiting https://cases.primeclerk.com/ish.