Exhibit 99.1

                                                                   PRESS RELEASE


                         SEACOR ANNOUNCES REDEMPTION OF
                         CONVERTIBLE SUBORDINATED NOTES


HOUSTON, TEXAS
January 16, 2003

FOR IMMEDIATE RELEASE - SEACOR SMIT Inc. (NYSE: "CKH")("SEACOR") announced today
that it has called for redemption on Monday, February 17, 2003, the entire
$35,319,000 in aggregate principal amount outstanding of its 5-3/8% convertible
subordinated notes due 2006. The redemption price will be $1,017.90 per $1,000
principal amount of notes plus accrued interest from November 15, 2002 to the
redemption date. Holders of notes being called would be able to convert any or
all of their notes into 22.727 shares of SEACOR's common stock per $1,000
principal amount of notes until the close of business (5:00 p.m., Eastern
Standard Time) on Friday, February 14, 2003.

THIS RELEASE DOES NOT CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES.

SEACOR and its subsidiaries are primarily engaged in the operation of a
diversified fleet of marine vessels primarily dedicated to supporting offshore
oil and gas exploration and development in the U.S. Gulf of Mexico, offshore
West Africa, the North Sea, Asia, Latin America and other foreign regions. Other
business activities include environmental services and inland river operations.

This release includes "forward-looking statements" as described in the Private
Securities Litigation Reform Act of 1995. Statements herein that describe the
Company's business strategy, industry outlook, objectives, plans, intentions or
goals also are forward-looking statements. All such forward-looking statements
are subject to certain risks and uncertainties that could cause actual results
to differ materially from those in forward-looking statements, including risks
associated with the level of oil and natural gas exploration, the availability
of competitive vessels, and the level of oil and natural gas prices.
Forward-looking statements included in this release speak only as of the date of
this release and SEACOR disclaims any obligation or undertaking to provide any
updates or revisions to any forward-looking statement to reflect any change in
our 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 our
businesses, particularly those mentioned under "Forward-Looking Statements" in
Item 7 of our Form 10-K and SEACOR's periodic reporting on Form 10-Q and Form
8-K (if any), which we incorporate by reference.

For additional information, contact Randall Blank, Executive Vice President and
Chief Financial Officer, at (281) 899-4800 or (212) 307-6633 or visit SEACOR's
website at www.seacormarine.com.