Exhbit 99.1

PRESS RELEASE

SEACOR HOLDINGS ANNOUNCES SECOND QUARTER RESULTS

Fort Lauderdale, Florida

July 23, 2008

FOR IMMEDIATE RELEASE —SEACOR Holdings Inc. (NYSE:CKH) announced net income for the second quarter ended June 30, 2008 of $38.4 million, or $1.57 per diluted share, on operating revenues of $409.0 million. For the six months ended June 30, 2008, net income was $76.3 million, or $3.06 per diluted share, on operating revenues of $763.4 million.

For the quarter ended June 30, 2007, net income was $65.3 million, or $2.41 per diluted share, on operating revenues of $325.5 million. For the six months ended June 30, 2007, net income was $103.4 million, or $3.80 per diluted share, on operating revenues of $636.2 million.

Net income for the preceding quarter ended March 31, 2008 was $37.9 million, or $1.50 per diluted share, on operating revenues of $354.5 million. Comparison of results for the second quarter ended June 30, 2008 with the preceding quarter ended March 31, 2008 is included in the discussion below.

Highlights for the Quarter

Offshore Marine Services – Operating income in the second quarter was $51.5 million on operating revenues of $171.2 million compared with operating income of $40.6 million on operating revenues of $154.6 million in the preceding quarter. Second quarter results included $14.4 million in gains on asset dispositions compared with $7.1 million in gains in the preceding quarter.

Excluding the impact of gains on asset dispositions, operating income in the second quarter was $3.7 million higher than in the preceding quarter. The improvement was primarily due to an increase in time charter revenues, particularly in the U.S. Gulf of Mexico because of more rig moving activity. Operating expenses increased in the second quarter, primarily due to higher drydocking and insurance costs. The regulatory survey, major repair and upgrade program of the Company's large AHTS vessels continued in the second quarter resulting in 168 days of out-of-service time as well as the cost of repairs. Administrative and general expenses were also higher in the second quarter primarily due to the recognition of international staff severance payments.

The number of days available for charter in the second quarter decreased by 143 or 0.9% as a result of a net decrease in fleet count. Overall utilization increased from 76.7% to 80.5% and overall average day rates were higher at $12,182 per day compared with $11,783 per day in the preceding quarter.

Two new AHTS vessels were delivered during the second quarter, one in April and one in June.

Marine Transportation Services – Marine Transportation Services reported operating income in the second quarter of $2.4 million on operating revenues of $28.8 million, compared with operating income of $6.9 million on operating revenues of $29.0 million in the preceding quarter. First quarter results included $3.6 million in gains on asset dispositions and a one-time receipt of $1.5 million related to the early termination of a charter party agreement.

Excluding the impact of gains on asset dispositions and the one-time receipt, operating income was $0.5 million higher in the second quarter. Operating results were positively impacted by fewer out-of-service days for repairs, offset by mobilization costs and out-of-service time associated with the regulatory drydocking of the Seabulk Arctic that will continue into the third quarter.

Inland River Services – Operating income in the second quarter was $7.5 million on operating revenues of $33.3 million compared with operating income of $8.0 million on operating revenues of $30.1 million in the preceding quarter. Second quarter results included $1.5 million in gains on asset dispositions compared with $0.7 million in gains in the preceding quarter.

Excluding the impact of gains on asset dispositions, operating income was $1.3 million lower in the second quarter. Continuing heavy rainfall in the Midwest resulted in high water levels on the upper Mississippi and Arkansas Rivers and unfavorable operating conditions throughout the entire river system. Operating costs were affected by fuel price increases which were not compensated for in freight rates and higher maintenance and repair costs in respect of regulatory inspections for towboats and liquid tank barges.

Aviation Services – Operating income in the second quarter was $6.7 million on operating revenues of $63.8 million compared with operating income of $1.9 million on operating revenues of $53.8 million in the preceding quarter. Second quarter results included $3.2 million in gains on asset dispositions compared to $0.4 million in gains in the preceding quarter.

Excluding the impact of gains on asset dispositions, operating income was $2.0 million higher in the second quarter. The improvement was primarily due to an increase in operating revenues from an expansion of international leasing operations, the resumption of flightseeing operations in Alaska and other seasonal factors. Operating expenses were higher in the second quarter primarily due to the increased activity levels and the timing of fleet repairs and maintenance.

Environmental Services – Operating income in the second quarter was $1.7 million on operating revenues of $38.0 million compared with operating income of $4.8 million on operating revenues of $42.5 million in the preceding quarter. The decrease in operating income was largely due to a reduction in response and retainer services.

Commodity Trading – SEACOR's commodity merchandising group currently focuses on renewable fuels and rice.Operating income in the second quarter was $6.8 million on operating revenues of $55.4 millioncompared with operating income of $1.2 million on operating revenues of $28.7 million in the preceding quarter.

Harbor and Offshore Towing Services – Operating income in the second quarter was $3.1 million on operating revenues of $19.9 million compared with operating income of $1.1 million on operating revenues of $16.3 million in the preceding quarter.

The improvement in operating income was primarily due to increased operating revenues as a result of tariff rate increases at two harbor ports. Operating expenses were higher in the second quarter due to increased drydocking and fuel costs and the cost of providing third-party equipment to support terminal operations in St. Eustatius.

Net Interest Expense – Net interest expense was $7.3 million in the second quarter compared with $4.1 million in the prior quarter. The increase was primarily due to lower invested cash balances and lower capitalized interest.

Derivatives – Derivative losses were $7.1 million in the second quarter compared with gains of $6.5 million in the preceding quarter.

Foreign Currencies – Foreign currency gains were $0.6 million in the second quarter compared with gains of $2.6 million in the preceding quarter.

Marketable Securities– Marketable security gains were $0.4 million in the second quarter compared with losses of $5.7 million in the preceding quarter.

Equity in Earnings of 50% or Less Owned Companies – Equity in earnings from joint ventures was $1.3 million in the second quarter compared with equity in earnings of $4.6 million in the preceding quarter. In the second quarter, one of the Company's inland river services joint ventures reported lower earnings primarily due to securities and futures trading. During the preceding quarter, the Company realized a gain of $1.9 million, net of tax, arising from the sale of a vessel in one of its offshore marine services joint ventures.

Stock and Debt Repurchases – During the second quarter, the Company purchased 1,112,917 shares of its common stock at an average price of $86.93 per share. At the end of the quarter, 21,117,375 shares of SEACOR’s common stock remained outstanding.

Capital Commitments – The Company’s unfunded capital commitments as of June 30, 2008, consisted primarily of offshore marine vessels, harbor tugs, helicopters and inland river barges and totaled $348.5 million, of which $180.2 million is payable during the remainder of 2008 and the balance payable through 2010. Of the total unfunded capital commitments, approximately $52.3 million may be terminated without further liability other than the payment of liquidated damages of $6.3 million in the aggregate. As of June 30, 2008, the Company held balances of cash, cash equivalents, restricted cash, available-for-sale marketable securities, construction reserve funds and title XI reserve funds totaling $820.9 million.

* * * * *

SEACOR is a global provider of marine support and transportation services, primarily to the energy and chemical industries. SEACOR and its subsidiaries provide customers with a full suite of marine-related services including offshore services, U.S. coastwise shipping, inland river services, aviation services, environmental services, and offshore and harbor towing services. SEACOR is focused on providing highly responsive local service, combined with the highest safety standards, innovative technology, modern efficient equipment, and dedicated, professional employees.

This release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements concerning management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Such risks, uncertainties and other important factors include, among others: the conditions in the global financial markets and international economic conditions including, interest rate fluctuations, availability of credit, inflation rates, change in laws, trade barriers, commodity prices and currency exchange fluctuations, the cyclical nature of the oil and gas industry, loss of U.S. coastwise endorsement for the Seabulk Trader, a retrofitted double-hull tanker, if the company is unsuccessful in appealing a district court opinion instructing the U.S. Coast Guard to revoke its coastwise charter, activity in foreign countries and changes in foreign political, military and economic conditions, changes in foreign and domestic oil and gas exploration and production activity, safety record requirements related to Offshore Marine Services, Marine Transportation Services and Aviation Services, decreased demand for Marine Transportation Services and Harbor and Offshore Towing Services due to construction of additional refined petroleum product, natural gas or crude oil pipelines or due to decreased demand for refined petroleum products, crude oil or chemical products or a change in existing methods of delivery, compliance with U.S. and foreign government laws and regulations, including environmental laws and regulations, the dependence of Offshore Marine Services, Marine Transportation Services and Aviation Services on several customers, consolidation of the Company's customer base, the ongoing need to replace aging vessels and aircraft, industry fleet capacity, restrictions imposed by the Shipping Acts and Aviation Acts on the amount of foreign ownership of the Company's Common Stock, increased competition if the Jones Act is repealed, operational risks of Offshore Marine Services, Marine Transportation Services, Harbor and Offshore Towing Services and Aviation Services, effects of adverse weather conditions and seasonality on Aviation Services, future phase-out of Marine Transportation Services' double-bottom tanker, dependence of spill response revenue on the number and size of spills and upon continuing government regulation in this area and Environmental Services' ability to comply with such regulation and other governmental regulation, changes in National Response Corporations' Oil Spill Removal Organization classification, liability in connection with providing spill response services, effects of adverse weather and river conditions and seasonality on Inland River Services, the level of grain export volume, the effect of fuel prices on barge towing costs, variability in freight rates for inland river barges, the effect of international economic and political factors in Inland River Services' operations, adequacy of insurance coverage, the attraction and retention of qualified personnel by the Company and various other matters and factors, many of which are beyond the Company's control. In addition, these statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995. It is not possible to predict or identify all such factors. Consequently, the following should not be considered a complete discussion of all potential risks or uncertainties. The words "estimate," "project," "intend," "believe," "plan" and similar expressions are intended to identify forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based. The forward-looking statements in this release should be evaluated together with the many uncertainties that affect the Company's businesses, particularly those mentioned under "Forward-Looking Statements" in Item 7 on the Company's Form 10-K and SEACOR's periodic reporting on Form 10-Q and Form 8-K (if any), which is incorporated by reference.

For additional information, contact Molly Hottinger at (954) 627-5278 or visit SEACOR’s website at www.seacorholdings.com.

SEACOR HOLDINGS INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data, unaudited)

	Three Months Ended June 30,							Six Months Ended June 30,
	2008			2007				2008			2007

Operating Revenues	$	408,967		$		325,454		$	763,422		$	636,217

Costs and Expenses:
Operating	274,304			198,818				509,344			387,476
Administrative and general	45,095			33,937				84,100			68,337
Depreciation and amortization	37,728			38,055				75,528			76,930
	357,127			270,810				668,972			532,743

Gains on Asset Dispositions and Impairments, Net	19,274			42,540				31,180			54,697

Operating Income	71,114			97,184				125,630			158,171

Other Income (Expense):
Interest income	5,373			11,456				12,849			23,680
Interest expense	(12,674		)	(12,108			)	(24,222		)	(25,376		)
Derivative losses, net	(7,113		)	(254			)	(646		)	(124		)
Foreign currency gains (losses), net	604			460				3,214			(130		)
Marketable security gains (losses), net	383			(9,430			)	(5,301		)	(14,118		)
Other, net	162			639				326			596
	(13,265		)	(9,237			)	(13,780		)	(15,472		)
Income Before Income Tax Expense, Minority Interest in Income of Subsidiaries and Equity In Earnings of 50% or Less Owned Companies	57,849			87,947				111,850			142,699
Income Tax Expense	20,616			30,206				41,086			49,048
Income Before Minority Interest in Income of Subsidiaries and Equity in Earnings of 50% or Less Owned Companies	37,233			57,741				70,764			93,651
Minority Interest in Income of Subsidiaries	(191		)	(304			)	(393		)	(482		)
Equity in Earnings of 50% or Less Owned Companies	1,315			7,829				5,894			10,249
Net Income	$	38,357		$	65,266			$	76,265		$	103,418

Basic Earnings Per Common Share	$	1.80		$	2.73			$	3.49		$	4.29

Diluted Earnings Per Common Share	$	1.57		$	2.41			$	3.06		$	3.80

Weighted Average Common Shares Outstanding:
Basic	21,363			23,886				21,853			24,119
Diluted	25,171			27,582				25,692			27,832

SEACOR HOLDINGS INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data, unaudited)

	Three Months Ended
	Jun. 30, 2008			Mar. 31, 2008			Dec. 31, 2007			Sep. 30, 2007			Jun. 30, 2007

Operating Revenues	$	408,967		$	354,455		$	363,090		$	359,923		$	325,454

Costs and Expenses:
Operating	274,304			235,040			230,935			213,992			198,818
Administrative and general	45,095			39,005			42,097			36,883			33,937
Depreciation and amortization	37,728			37,800			39,934			37,443			38,055
	357,127			311,845			312,966			288,318			270,810

Gains on Asset Dispositions and Impairments, Net	19,274			11,906			48,315			19,560			42,540

Operating Income	71,114			54,516			98,439			91,165			97,184

Other Income (Expense):
Interest income	5,373			7,476			10,219			11,274			11,456
Interest expense	(12,674		)	(11,548		)	(13,129		)	(10,855		)	(12,108		)
Derivative gains (losses), net	(7,113		)	6,467			5,738			5,221			(254		)
Foreign currency gains, net	604			2,610			44			316			460
Marketable security gains (losses), net	383			(5,684		)	(1,233		)	11,960			(9,430		)
Other, net	162			164			109			(716		)	639
	(13,265		)	(515		)	1,748			17,200			(9,237		)
Income Before Income Tax Expense, Minority Interest in (Income) Loss of Subsidiaries and Equity In Earnings of 50% or Less Owned Companies	57,849			54,001			100,187			108,365			87,947
Income Tax Expense	20,616			20,470			41,054			40,339			30,206
Income Before Minority Interest in (Income) Loss of Subsidiaries and Equity in Earnings of 50% or Less Owned Companies	37,233			33,531			59,133			68,026			57,741
Minority Interest in (Income) Loss of Subsidiaries	(191		)	(202		)	182			(927		)	(304		)
Equity in Earnings of 50% or Less Owned Companies	1,315			4,579			8,633			3,183			7,829
Net Income	$	38,357		$	37,908		$	67,948		$	70,282		$	65,266

Basic Earnings Per Common Share	$	1.80		$	1.70		$	2.99		$	3.02		$	2.73

Diluted Earnings Per Common Share	$	1.57		$	1.50		$	2.62		$	2.66		$	2.41

Weighted Average Common Shares Outstanding:
Basic	21,363			22,344			22,738			23,234			23,866
Diluted	25,171			26,011			26,439			26,905			27,582
Common Shares Outstanding at Period End	21,117			22,223			22,575			23,157			23,895

SEACOR HOLDINGS INC.

OPERATING INCOME (LOSS) BY LINE OF BUSINESS

(in thousands, unaudited)

	Three Months Ended
	Jun. 30, 2008			Mar. 31, 2008				Dec. 31, 2007					Sep. 30, 2007								Jun. 30, 2007

Offshore Marine Services
Operating Revenues	$	171,214		$		154,647		$		170,430		$							179,618		$	171,442
Costs and Expenses:
Operating	104,599			94,270				97,534					95,345								88,596
Administrative and general	15,801			12,804				13,855					13,137								11,893
Depreciation and amortization	13,674			14,125				15,415					14,069								14,515
	134,074			121,199				126,804					122,551								115,004

Gains on Asset Dispositions and Impairments, Net	14,352			7,138				22,472					13,222								38,546
Operating Income	$	51,492		$	40,586			$	66,098			$			70,289						$			94,984

Marine Transportation Services
Operating Revenues	$	28,764	$		28,953		$			31,827				$				27,730			$		25,924
Costs and Expenses:
Operating	16,762			16,219				27,781					19,207								22,865
Administrative and general	1,607			1,438				1,737					1,150								1,236
Depreciation and amortization	8,039			7,980				8,764					9,536								9,790
	26,408			25,637				38,282					29,893								33,891

Gains on Asset Dispositions	—			3,629				—					—								—
Operating Income (Loss)	$	2,356	$		6,945		$			(6,455	)			$			(2,163			)	$	(7,967			)

Inland River Services
Operating Revenues	$	33,322		$	30,145			$	33,850			$			32,656						$			28,020
Costs and Expenses:
Operating	21,310			16,726				15,863					16,234								13,056
Administrative and general	1,916			2,123				2,076					1,753								2,101
Depreciation and amortization	4,032			3,964				4,220					4,256								4,332
	27,258			22,813				22,159					22,243								19,489

Gains on Asset Dispositions	1,472			711				22,726					1,592								2,622
Operating Income	$	7,536		$	8,043			$	34,417			$			12,005						$			11,153

Aviation Services
Operating Revenues	$	63,795		$	53,792			$	51,296			$			62,449						$			55,861
Costs and Expenses:
Operating	46,697			39,871				38,156					41,647								41,212
Administrative and general	4,895			4,629				5,315					4,590								4,439
Depreciation and amortization	8,672			7,789				7,866					7,015								6,601
	60,264			52,289				51,337					53,252								52,252

Gains on Asset Dispositions	3,208			394				1,996					4,304								1,505
Operating Income	$	6,739		$	1,897			$	1,955			$				13,501					$			5,114

Environmental Services
Operating Revenues	$	37,984		$	42,509			$		55,879		$				42,287					$			32,168
Costs and Expenses:
Operating	26,571			30,598				36,623					30,316								23,605
Administrative and general	8,423			5,709				7,755					5,931								4,323
Depreciation and amortization	1,414			1,445				1,748					1,096								1,100
	36,408			37,752				46,126					37,343								29,028

Gains (Losses) on Asset Dispositions	84			35				249					75								(133				)
Operating Income	$	1,660		$	4,792			$	10,002			$			5,019						$			3,007

SEACOR HOLDINGS INC.

OPERATING INCOME (LOSS) BY LINE OF BUSINESS (continued)

(in thousands, unaudited)

	Three Months Ended
	Jun. 30, 2008						Mar. 31, 2008						Dec. 31, 2007					Sep. 30, 2007						Jun. 30, 2007

Commodity Trading
Operating Revenues	$	55,419					$	28,674					$		6,338			$	3,058					$	204
Costs and Expenses:
Operating	46,977						26,757						6,902					2,646						174
Administrative and general	1,644						727						365					287						200
Depreciation and amortization	—						—						—					—						—
	48,621						27,484						7,267					2,933						374

Gains on Asset Dispositions	—						—						—					—						—
Operating Income (Loss)	$	6,798					$	1,190					$		(929		)	$		125				$	(170	)

Harbor and Offshore Towing Services
Operating Revenues	$				19,929		$				16,257		$			13,461		$			12,351			$	12,538
Costs and Expenses:
Operating	12,959						11,109						8,053					8,797						10,003
Administrative and general	2,398						1,771						1,882					1,769						1,999
Depreciation and amortization	1,648						2,267						1,714					1,264						1,264
	17,005						15,147						11,649					11,830						13,266

Gains (Losses) on Asset Dispositions and Impairments, Net	158						—						—					(100					)	—
Operating Income (Loss)	$				3,082		$			1,110			$			1,812		$			421			$	(728	)

Other
Operating Revenues	$				104		$			—			$			—		$			—			$	—
Costs and Expenses:
Operating	—						—						—					—						—
Administrative and general	131						202						509					46						7
Depreciation and amortization	8						—						—					—						—
	139						202						509					46						7

Gains on Asset Dispositions	—						—						873					467						—
Operating Income (Loss)	$		(35			)	$		(202			)	$		364			$				421		$	(7	)

Corporate and Eliminations
Operating Revenues	$	(1,564				)	$	(522				)	$	9				$		(226			)	$	(703	)
Costs and Expenses:
Operating	(1,571					)	(510					)	23					(200					)	(693		)
Administrative and general	8,280						9,602						8,603					8,220						7,739
Depreciation and amortization	241						230						207					207						453
	6,950						9,322						8,833					8,227						7,499

Losses on Asset Dispositions	—						(1					)	(1				)	—						—
Operating Loss	$			(8,514		)	$	(9,845				)	$	(8,825			)	$		(8,453			)	$	(8,202	)

SEACOR HOLDINGS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, unaudited)

	Jun. 30, 2008			Mar. 31, 2008			Dec. 31, 2007			Sep. 30, 2007			Jun. 30, 2007
ASSETS
Current Assets:
Cash and cash equivalents	$422,569			$444,787			$537,305			$	429,020		$	503,288
Restricted cash	30,072			39,152			30,624			38,371			54,680
Available-for-sale marketable securities	97,920			75,669			28,792			18,501			19,184
Receivables:
Trade, net of allowance for doubtful accounts	272,291			250,789			267,564			289,796			263,211
Other	54,520			72,073			62,975			43,838			28,948
Inventories	42,063			35,021			30,468			28,186			28,471
Deferred income taxes	9,929			9,929			9,929			13,206			13,256
Prepaid expenses and other	12,067			9,196			9,756			13,689			13,754
Total current assets	941,431			936,616			977,413			874,607			924,792
Property and Equipment	2,665,956			2,511,118			2,469,735			2,470,029			2,345,711
Accumulated depreciation	(578,100		)	(554,838		)	(526,583		)	(518,285		)	(490,070		)
Net property and equipment	2,087,856			1,956,280			1,943,152			1,951,744			1,855,641
Investments, at Equity, and Receivables from 50% or Less Owned Companies	115,701			117,409			109,288			120,866			136,331
Construction Reserve Funds & Title XI Reserve Funds	270,357			413,681			405,000			390,576			344,465
Goodwill	63,101			62,020			60,226			56,271			49,040
Intangible Assets	28,079			29,292			30,500			33,756			32,830
Other Assets, net of allowance for doubtful accounts	41,806			36,136			43,072			32,610			28,699
	$3,548,331			$3,551,434			$3,568,651			$	3,460,430		$	3,371,798

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Current portion of long-term debt	$10,385			$11,414			$9,648			$9,429			$9,429
Current portion of capital lease obligations	33,682			864			851			19,140			2,978
Accounts payable and accrued expenses	101,942			93,079			119,321			97,134			86,118
Other current liabilities	273,185			254,522			258,940			280,250			254,778
Total current liabilities	419,194			359,879			388,760			405,953			353,303
Long-Term Debt	927,701			928,308			929,114			933,188			934,489
Capital Lease Obligations	8,192			8,439			8,642			9,000			9,269
Deferred Income Taxes	492,131			493,701			480,447			386,384			373,931
Deferred Gains and Other Liabilities	127,217			131,259			130,311			112,731			96,470
Minority Interest in Subsidiaries	11,981			12,207			9,558			8,803			7,193
Stockholders’ Equity:
Preferred stock	—			—			—			—			—
Common stock	323			323			322			321			321
Additional paid-in capital	913,874			910,843			905,702			902,120			899,016
Retained earnings	1,274,289			1,235,932			1,198,024			1,130,076			1,059,794
Shares held in treasury, at cost	(628,041		)	(531,236		)	(486,505		)	(431,550		)	(366,365		)
Accumulated other comprehensive income (loss):
Cumulative translation adjustments	2,344			2,337			1,938			1,712			1,428
Unrealized gain (loss) on available-for-sale marketable securities	(874		)	(558		)	2,338			1,692			2,949
Total stockholders’ equity	1,561,915			1,617,641			1,621,819			1,604,371			1,597,143
	$	3,548,331		$	3,551,434		$	3,568,651		$	3,460,430		$	3,371,798