Document:

SEABULK INTERNATIONAL, INC.
READ CAREFULLY

Seabulk International, Inc. (the "Corporation") will furnish to any stockholder,
upon request and without charge, a full statement of the  designation,  relative
rights,  preferences  and  limitations  of the  shares  of each  class  of stock
authorized to be issued and the designation,  relative  rights,  preferences and
limitations  of each  series  of  preferred  stock so far as the same  have been
fixed,  and the  authority of the Board of  Directors  to designate  and fix the
relative rights,  preferences and limitations of other series.  Any such request
may be  addressed  to the  Corporation  or to the  Transfer  Agent.  Because the
CorporationOs  vessels  operate in the United  States coast wise trades,  United
States  law  requires  no more  than 25  percent  of its  stock  may be owned or
controlled by  Non-Citizens as defined in the Application for Transfer of Common
Stock printed below on this Certificate.  If this Certificate is a CITIZEN SHARE
CERTIFICATE,  it has been issued on the  representation  by the registered owner
thereof that it is held by or for the account of a Citizen as defined below.  If
the holder of a CITIZEN SHARE  CERTIFICATE  is a  Non-Citizen,  or holds for the
account of a Non-Citizen,  the Certificate  must be exchanged  immediately for a
NON-CITIZEN  SHARE  CERTIFICATE,  subject to the  limitations  set forth  below.
Similarly,  where the  beneficial  interest is  transferred  from a Citizen to a
Non-Citizen,  the record holder must likewise  exchange the Certificate.  Should
such  Certificate be sold to a Citizen  holding for himself or another  Citizen,
the transferee  should  exchange it for a CITIZEN SHARE  CERTIFICATE.  Under the
Articles of  Incorporation,  the  maximum  percentage  of the total  outstanding
shares of the  Corporation  that may be owned by  Non-Citizens  is  24.99%.  Any
purported  sale,  transfer  or  other  disposition  to  Non-Citizens  of  shares
evidenced by CITIZEN SHARE  CERTIFICATES,  which at the time of  presentation to
the Transfer Agent of the  Corporation  would result in increasing the ownership
of shares by  Non-Citizens  above such maximum  permitted  percentage,  shall be
ineffective  as against the  Corporation to transfer the shares or any voting or
other rights in respect thereof,  and such transfer shall not be recorded on the
books of the  Corporation in any such case, and neither the  Corporation nor the
Transfer  Agent shall be required  to  recognize  the  transferee  or  purported
transferee  the  Corporation  for any  purpose  whatsoever  except to the extent
necessary  to  effect  any  remedy  available  to the  Corporation.  Any  shares
represented  by  CITIZEN  SHARE  CERTIFICATES  held in the  names  of or for the
account of Non-Citizens will have no rights, and the Corporation may regard this
Certificate, whether or not validly issued, as having been invalidly issued. The
Corporation  will furnish to any  stockholder,  upon written request and without
charge,  copies of the applicable  provisions of the Articles of  Incorporation.
Any such request may be addressed to the  Corporation or to the Transfer  Agent.
The shares  represented by this  Certificate will be transferred on the books of
the  Corporation  only if the Application for Transfer of Common Stock set forth
below has been executed by the transferee.

APPLICATION FOR TRANSFER OF COMMON STOCK

The undersigned (the "Applicant") makes application for the transfer to the name
of the  Applicant  of the number of shares of common stock  indicated  below and
hereby certifies to Seabulk International Inc. that: (answer (a), (b) and/or (c)
as applicable)

(a) The Applicant will be the beneficial owner of NNNNNNNNN shares of the common
stock of Seabulk International, Inc. and is is not a "Citizen" (check one).

(b) The  Applicant  will hold  NNNNNNNNN  shares of the common  stock of Seabulk
International, Inc. for the benefit of one or more "Persons" who ARE "Citizens."

(c) The  Applicant  will hold  NNNNNNNNN  shares of the common  stock of Seabulk
International,  Inc.  for  the  benefit  of one or  more  "Persons"  who ARE NOT
"Citizens."

The Applicant agrees that, on the request of Seabulk International Inc., he will
furnish proof in support of this certificate.  The Applicant understands that he
has an ongoing obligation to provide the information set forth herein and agrees
to provide a new Citizenship  Certificate at any time as the facts affecting his
citizenship  or the  citizenship  of the  beneficial  owner(s) for whom he holds
Seabulk International Inc. common stock change.  Seabulk International Inc. will
provide a blank Citizenship Certificate to the Applicant upon request.

IMPORTANT NOTICE

THIS   APPLICATION   CONSTITUTES  A  BASIS  FOR  Seabulk   International,   Inc.
REPRESENTATION  TO THE UNITED STATES  GOVERNMENT THAT IT IS A CITIZEN WITHIN THE
MEANING OF THE SHIPPING  ACT,  1916,  AS AMENDED,  ANY PERSON MAKING A STATEMENT
HEREIN  WHICH HE KNOWS TO BE FALSE  MAY BE  PROCEEDED  AGAINST  UNDER  TITLE 18,
UNITED  STATES CODE,  SECTION 1001 WHICH SECTION  PRESCRIBES  PENALTIES OF UP TO
FIVE YEARS IMPRISONMENT OR A FINE OF UP TO $10,000.

This Application is dated,
Signature of Applicant For purposes of this Certificate:

A "Citizen" is: (i) any  individual  who is a citizen of the United  States,  by
birth,  naturalization  or as otherwise  authorized by law; (ii) any corporation
(A)  that is  organized  under  the  laws of the  United  States  or of a state,
territory,  district or possession thereof,  (B) of which title to not less than
75% of its stock is  Beneficially  Owned,  as defined  herein,  by and vested in
Persons,  as defined herein, who are Citizens,  as defined herein, free from any
trust or fiduciary  obligation in favor of Non-Citizens,  as defined herein, (C)
of which not less than 75% of the voting  power is vested in Citizens  free from
any  contract or  understanding  through  which it is arranged  that such voting
power may be exercised directly or indirectly in behalf of Non-Citizens,  (D) of
which there are no other means by which  control is conferred  upon or permitted
to be exercised by Non-Citizens, (E) whose president or chief executive officer,
chairman of the Board of  Directors  and all officers  authorized  to act in the
absence or disability  of such Persons are Citizens,  and (F) of which more than
50% of the  number  of its  directors  necessary  to  constitute  a  quorum  are
Citizens;  (iii) any  partnership  (A) that is  organized  under the laws of the
United States or of a state, territory,  district or possession thereof, (B) all
general  partners  of which are  Citizens,  and (C) of which not less than a 75%
partnership  interest is  Beneficially  Owned and  controlled by, and vested in,
Persons who are Citizens free and clear of any trust or fiduciary  obligation in
favor of any Non-Citizens;  (iv) any association (A) that is organized under the
laws of the United  States,  or of a state,  territory,  district or  possession
thereof,  (B) of which 100% of the members are Citizens,  (C) whose president or
other chief executive officer (or equivalent position), chairman of the Board of
Directors (or equivalent committee or body) and all Persons authorized to act in
the absence or disability  of such Persons are  Citizens,  (D) of which not less
than 75% of the voting  power is vested in Citizens  free and clear of any trust
or fiduciary obligation in favor of any Non-Citizens,  and (E)of which more than
50%  of the  number  of its  directors  (or  equivalent  Persons)  necessary  to
constitute a quorum are Citizens;  (v) any limited liability company (A) that is
organized  under  the  laws of the  United  States,  or of a  state,  territory,
district or possession thereof, (B) of which not less than 75% of the membership
interests are Beneficially Owned by and vested in Persons that are Citizens free
from any trust or fiduciary obligation in favor of Non-Citizens and of which the
remaining  membership  interests are Beneficially Owned by and vested in Persons
meeting the  requirements  of 46 U.S.C.  Section12102(a),  (C) of which not less
than 75% of the voting  power is vested in  Citizens  free from any  contract or
understanding  through  which it is  arranged  that  such  voting  power  may be
exercised  directly or indirectly in behalf of Non-Citizens,  (D) of which there
are no  other  means by which  control  is  conferred  upon or  permitted  to be
exercised by Non-Citizens,  (E) whose president or other chief executive officer
(or  equivalent  position),  chairman of the Board of Directors  (or  equivalent
committee or body),  managing members (or  equivalent),  if any, and all Persons
authorized to act in the absence or disability of such Persons are Citizens, and
(F) of which  more  than  50% of the  number  of its  directors  (or  equivalent
Persons)  necessary to constitute a quorum are Citizens;  (vi) any joint venture
(if not an association,  corporation, partnership, or limited liability company)
(A)  that is  organized  under  the  laws of the  United  States  or of a state,
territory,  district or possession thereof,  and (B) of which 100% of the equity
is  Beneficially  Owned by and vested in Citizens free and clear of any trust or
fiduciary obligation in favor of any Non-Citizens;  and (vii) any trust (A) that
is domiciled in and existing  under the laws of the United States or of a state,
territory,  district  or  possession  thereof,  (B) the  trustee  of  which is a
Citizen,  and (C) of which not less than a 75%  interest is held for the benefit
of Citizens free and clear of any trust or fiduciary  obligation in favor of any
Non-Citizens.

The foregoing  definition is applicable at all tiers of ownership and in both
form and substance at each tier of ownership.

A "Non-Citizen" is any Person other than a Citizen. A OPersonO is an individual,
corporation,  partnership,  association, trust, joint venture, limited liability
company  or other  entity.  A Person  shall be deemed  to be the  "Beneficial
Owner" of, or to "Beneficially Own" shares of Common Stock to the extent such
Person would be deemed to be the  beneficial  owner thereof  pursuant to Rule
13d-3 promulgated by the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as such rule may be amended from time to time.

ABBREVIATIONS The following  abbreviations,  when used in the inscription on the
face of this certificate,  shall be construed as though they were written out
in full  according to applicable  laws or  regulations:  TEN COM _ as tenants in
common UNIF GIFT MIN ACT _ Custodian  (Cust) (Minor) TEN ENT _ as tenants by the
entireties under Uniform Gifts to Minors

JT TEN      _ as joint tenants with right    Act      of survivorship and not
as (State) tenants in common  Additional  abbreviations may also be used though
not in the above list.

For value received,                        hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER  IDENTIFYING  NUMBER OF ASSIGNEE  (Please
print or typewrite name and address,  including zip code, of assignee) shares of
the  common  stock  represented  by the  within  Certificate  and  do  hereby
irrevocably  constitute  and appoint  Attorney to transfer the said stock on the
books of the within named  Corporation  with full power of  substitution  in the
premises.  Dated:  notice: The signature to this assignment must correspond with
the name as written  upon the face of the  Certificate  in every  particular,
without  alteration  or  enlargement,  or any  change  whatsoever.  Signature(s)
Guaranteed:  THE  SIGNATURE(S)  SHOULD BE  GUARANTEED  BY AN ELIGIBLE  GUARANTOR
INSTITUTION  (BANKS,  STOCKBROKERS,  SAVINGS  AND LOAN  ASSOCIATIONS  AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE  GUARANTEE  MEDALLION  PROGRAM),
PURSUANT TO S.E.C. RULE 17Ad-15.

<PAGE>

IMPORTANT:
terms on reverse require careful reading

C

COMMON STOCK
Citizen Share Certificate

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

CUSIP 81169P 10 1
SEE REVERSE FOR CERTAIN DEFINITIONS

This Certifies that

is the registered holder of

FULLY PAID AND NON-ASSESSABLE  SHARES OF the COMMON STOCK, having a PAR VALUE OF
$.01  PER  SHARE,  OF  SEABULK  INTERNATIONAL,   INC.  (hereinafter  called  the
OCorporationO) transferable only upon the books of the Corporation by the holder
hereof in person  or by duly  authorized  attorney  upon the  surrender  of this
Certificate   properly   endorsed.   This   Certificate   is  not  valid  unless
countersigned and registered by the Transfer Agent and Registrar.
                        witness the facsimile seal of the Corporation and the
facsimile signatures of its duly
authorized officers.

                        Dated:

Countersigned and Registered:
MELLON INVESTOR SERVICES LLC Transfer Agent and Registrar By:

Authorized Signature

secretary

 president and chief executive officerEXERCISABLE ON OR AFTER THE ISSUE DATE
AND ON OR BEFORE DECEMBER 14, 2003

No. WA

Number of Class A Warrants

CLASS A WARRANTS

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

CUSIPE81169P 11 9

This Warrant Certificate certifies that

          or registered  assigns,  is the registered holder of Warrants expiring
December 14, 2003 (the "Warrants") to purchase Common Stock, par value $.01 (the
"Common Stock"), of Seabulk International, Inc., a Delaware corporation formerly
known as Hvide Marine  Incorporated  (the "Company").  Each Warrant entitles the
registered  holder upon exercise at any time from 9:00 a.m. on or after the date
of the consummation of the Plan of Reorganization of Hvide Marine  Incorporated,
a  Florida   corporation,   under  Chapter  11  of  the  Bankruptcy   Code  (the
"Exercisability  Date") until 5:00 p.m. New York City Time on December 14, 2003,
to receive  from the  Company one fully paid and  nonassessable  share of Common
Stock (the  "Warrant  Shares")  at the  initial  exercise  price (the  "Exercise
Price") of $38.49  per share  payable  in lawful  money of the United  States of
America upon surrender of this Warrant  Certificate  and payment of the Exercise
Price at the  office or agency of the  Warrant  Agent,  but only  subject to the
conditions  set forth  herein and in the  Warrant  Agreement  referred to on the
reverse  hereof.  The Exercise Price and number of Warrant Shares  issuable upon
exercise  of the  Warrants  are subject to  adjustment  upon the  occurrence  of
certain events set forth in the Warrant Agreement.

         No Warrant may be exercised before the Exercisability  Date. No Warrant
may be exercised  after 5:00 p.m., New York City Time, on December 14, 2003, and
to the extent not exercised by such time such Warrants shall become void.

         Reference  is  hereby  made  to  further  provisions  of  this  Warrant
Certificate set forth on the reverse hereof,  which further provisions shall for
all purposes have the same effect as though fully set forth at this place.

         This Warrant Certificate shall not be valid unless countersigned by the
Warrant Agent, as such term is used in the Class A Warrant Agreement.

         This  Warrant  Certificate  shall  be  governed  by  and  construed  in
accordance with the internal laws of the State of New York.

         IN  WITNESS   WHEREOF,   Seabulk   International,   Inc.,   a  Delaware
corporation,  has caused this Warrant  Certificate to be signed by its President
and by its Secretary, each by a signature or a facsimile thereof, and has caused
a facsimile of its corporate  seal to be affixed  hereunto or imprinted  hereon.
Dated:

Seabulk International, Inc.

Attest:

By:

Countersigned:
STATE STREET BANK AND TRUST COMPANY
As Warrant Agent
By:
Authorized Signature

Secretary

President and Chief Executive  Officer

Seabulk International, Inc.
READ CAREFULLY

   Because vessels owned by Seabulk International,  Inc. (the "Company") and its
subsidiaries  operate in the United States coastwise  trades,  United States law
provides that no more than 25 percent of its stock may be owned or controlled by
Non-Citizens, as defined in the Application for Purchase of Common Stock printed
below  on this  Certificate.  Under  the  Certificate  of  Incorporation  of the
Company,  the maximum percentage of the total outstanding shares of common stock
of the Company that may be owned by Non-Citizens is 24.99%.  Any purported sale,
transfer or other  disposition to  Non-Citizens  of shares of common stock which
would result in increasing  the ownership of shares by  Non-Citizens  above such
maximum  permitted  percentage  shall be  ineffective  as against the Company to
transfer the shares or any voting or other rights in respect  thereof,  and such
transfer shall not be recorded on the books of the Company in any such case, and
neither  the  Company  nor the  transfer  agent for the  common  stock  shall be
required to  recognize  the  transferee  or  purported  transferee  thereof as a
stockholder  of the  Company  for any  purpose  whatsoever  except to the extent
necessary to effect any remedy  available  to the Company.  Each share of common
stock  issued  by the  Company  shall be  represented  by either  CITIZEN  SHARE
CERTIFICATES  or  NON-CITIZEN  SHARE  CERTIFICATES,  and shall be subject to the
limitations  set  forth  thereon.   Any  shares  represented  by  CITIZEN  SHARE
CERTIFICATES  held in the names of or for the account of Non-Citizens  will have
no rights, and the Company may regard any certificate  representing such shares,
whether or not validly issued, as having been invalidly issued. The Company will
furnish to any Warrant holder,  upon written request and without charge,  copies
of the applicable provisions of the Certificate of Incorporation of the Company.
Any such request may be addressed to the Company.  The shares of common stock to
be purchased pursuant to this Warrant will be issued on the books of the Company
only if the  Application  for  Purchase of Common Stock set forth below has been
executed by the purchaser and the Company determines that such issuance will not
cause the  percentage  ownership of common stock by  Non-Citizens  to exceed the
maximum permitted percentage.

APPLICATION FOR PURCHASE OF COMMON STOCK

The  undersigned  (the  "Applicant")  makes  application for the purchase by the
Applicant  of the number of shares of common  stock  indicated  below and hereby
certifies to Seabulk  International,  Inc. that:  (answer (a), (b) and/or (c) as
applicable)

(a) The Applicant will be the beneficial  owner  of------------------  shares of
the common stock of Seabulk International, Inc. and is is not a "Citizen" (check
one).

(b) The  Applicant  will  hold------------------  shares of the common  stock of
Seabulk  International,  Inc. for the benefit of one or more  "Persons"  who ARE
"Citizens."

(c) The  Applicant  will  hold------------------  shares of the common  stock of
Seabulk International, Inc. for the benefit of one or more "Persons" who ARE NOT
"Citizens."

    The Applicant agrees that, on the request of Seabulk International, Inc., he
will furnish proof in support of this  certificate.  The  Applicant  understands
that he has an ongoing  obligation to provide the  information  set forth herein
and agrees to  provide a new  Citizenship  Certificate  at any time as the facts
affecting his citizenship or the citizenship of the beneficial owner(s) for whom
he holds Seabulk International, Inc. common stock change. Seabulk International,
Inc. will provide a blank Citizenship Certificate to the Applicant upon request.

  IMPORTANT NOTICE

THIS  APPLICATION   CONSTITUTES  A  BASIS  FOR  Seabulk  International,   Inc.'S
REPRESENTATION  TO THE UNITED STATES  GOVERNMENT THAT IT IS A CITIZEN WITHIN THE
MEANING OF THE SHIPPING  ACT,  1916,  AS AMENDED.  ANY PERSON MAKING A STATEMENT
HEREIN  WHICH HE KNOWS TO BE FALSE  MAY BE  PROCEEDED  AGAINST  UNDER  TITLE 18,
UNITED  STATES CODE,  SECTION 1001 WHICH SECTION  PRESCRIBES  PENALTIES OF UP TO
FIVE YEARS IMPRISONMENT OR A FINE OF UP TO $10,000.

This Application is dated                                             ,

                                                                    Signature of
Applicant For purposes of this Certificate:

A "Citizen" is:
     (i) any individual who is a citizen of the United States, by birth,
naturalization or as otherwise authorized by law;
     (ii) any  corporation  (A) that is  organized  under the laws of the United
States,  or of a state of the United  States or political  subdivision  thereof,
Guam, Puerto Rico, the Virgin Islands, American Samoa, the District of Columbia,
the Northern Mariana Islands, or any other territory or possession of the United
States  (each a OStateO),  (B) of which title to not less than 75% of each class
or series of its capital stock is Beneficially  Owned, as defined herein, by and
vested in Persons, as defined herein, who are Citizens,  as defined herein, free
from any trust or  fiduciary  obligation  in favor of  Non-Citizens,  as defined
herein,  (C) of  which  not  less  than  75% of the  voting  power  of the  then
outstanding  shares  of  capital  stock  of such  corporation  entitled  to vote
generally in the election of directors of such corporation is vested in Citizens
free from any contract or  understanding  through which it is arranged that such
voting power may be exercised  directly or indirectly on behalf of Non-Citizens,
(D) of which  there are no other  means by which  control is  conferred  upon or
permitted to be exercised by Non-Citizens,  (E) whose president, chief executive
officer (by whatever title), chairman of the Board of Directors and all officers
authorized to act in the absence or disability of such Persons are Citizens, and
(F) of  which  more  than  50% of that  number  of its  directors  necessary  to
constitute a quorum are Citizens;
     (iii) any  partnership  (A) that is organized  under the laws of the United
States or of a State, (B) all general partners of which are Citizens, and (C) of
which not less than a 75% interest is Beneficially  Owned and controlled by, and
vested in,  Persons who are  Citizens,  free and clear of any trust or fiduciary
obligation in favor of any Non-Citizens;
     (iv) any  association  (A) that is  organized  under the laws of the United
States or of a State,  (B) of which 100% of the members are Citizens,  (C) whose
president or other chief executive officer (or equivalent position), chairman of
the  Board of  Directors  (or  equivalent  committee  or body)  and all  Persons
authorized to act in the absence or disability of such Persons are Citizens, (D)
of which not less than 75% of the voting power of such  association  entitled to
vote generally in the election of directors (or equivalent Persons) is vested in
Citizens,  free and clear of any trust or fiduciary  obligation  in favor of any
Non-Citizens,  and (E) of which more than 50% of the number of its directors (or
equivalent Persons) necessary to constitute a quorum are Citizens;
     (v) any limited  liability  company (A) that is organized under the laws of
the  United  States  or of a  State,  (B) of  which  not  less  than  75% of the
membership  interests are  Beneficially  Owned by and vested in Persons that are
Citizens free from any trust or fiduciary  obligation  in favor of  Non-Citizens
and of which the remaining  membership  interests are Beneficially  Owned by and
vested in Persons meeting the requirements of 46 U.S.C. Section12102(a),  (C) of
which not less than 75% of the voting power is vested in Citizens  free from any
contract or  understanding  through  which it is arranged that such voting power
may be exercised directly or indirectly in behalf of Non-Citizens,  (D) of which
there are no other means by which  control is conferred  upon or permitted to be
exercised by Non-Citizens,  (E) whose president or other chief executive officer
(or  equivalent  position),chairman  of the Board of  Directors  (or  equivalent
committee or body),  managing members (or  equivalent),  if any, and all Persons
authorized to act in the absence or disability of such Persons are Citizens, and
(F) of which  more  than  50% of the  number  of its  directors  (or  equivalent
Persons) necessary to constitute a quorum are Citizens;
     (vi) any joint venture (if not an association, corporation, partnership, or
limited  liability  company) (A) that is organized  under the laws of the United
States or of a State,  and (B) of which 100% of the members  are, or 100% of the
equity  is  Beneficially  Owned  by,  Citizens,  free and  clear of any trust or
fiduciary obligation in favor of any Non-Citizens; and
     (vii) any trust (A) that is domiciled in and existing under the laws of the
United States or of a State, (B) all the trustees of which are Citizens,  (C) of
which not less than a 75% interest is held for the benefit of Citizens, free and
clear of any trust or fiduciary obligation in favor of any Non-Citizens, and (D)
each  beneficiary  of  which  with an  enforceable  interest  in the  trust is a
Citizen.

     The  foregoing  definition  is  applicable at all tiers of ownership and in
both form and substance at each tier of ownership.

A "Non-Citizen" is any Person other than a Citizen.

A "Person" is an individual, corporation, partnership, association, trust, joint
venture,  limited liability company or other entity. A Person shall be deemed to
be the "Beneficial Owner" of, or to "Beneficially Own" shares of Common Stock to
the  extent  such  Person  would be deemed to be the  beneficial  owner  thereof
pursuant to Rule 13d-3  promulgated by the  Securities  and Exchange  Commission
under the Securities Exchange Act of 1934, as such rule may be amended from time
to time.

    The  Warrants  evidenced  by this  Warrant  Certificate  are  part of a duly
authorized issue of Warrants expiring December 14, 2003, entitling the holder on
exercise to receive shares of Common Stock,  par value $.01, of the Company (the
OCommon StockO),  and are issued or to be issued pursuant to the Class A Warrant
Agreement,  dated as of  December  15,  1999  (the  OWarrant  AgreementO),  duly
executed and delivered by the Company to STATE STREET BANK AND TRUST COMPANY, as
warrant  agent  (the  OWarrant  AgentO),   which  Warrant  Agreement  is  hereby
incorporated  by  reference  herein  and made a part of this  instrument  and is
hereby  referred  to for a  description  of the  rights,  limitation  of rights,
obligations,  duties and immunities thereunder of the Warrant Agent, the Company
and the holders (the words OholdersO or OholderO meaning the registered  holders
or registered  holder) of the Warrants.  A copy of the Warrant  Agreement may be
obtained by the holder hereof upon written  request to the Company.  Capitalized
terms used herein without definition shall have the meanings ascribed to them in
the Warrant Agreement.
    Warrants  may be  exercised  at any time  from  9:00  a.m.  on or after  the
Exercisability  Date and until 5:00 p.m.,  New York City Time on the  Expiration
Date. The holder of Warrants evidenced by this Warrant  Certificate may exercise
them by surrendering this Warrant Certificate,  with the application to purchase
Common  Stock and the form of  election to purchase  set forth  hereon  properly
completed  and executed,  together with payment of the Exercise  Price in lawful
money of the United States of America at the office of the Warrant Agent. In the
event that upon any exercise of Warrants evidenced hereby the number of Warrants
exercised  shall be less than the total  number of  Warrants  evidenced  hereby,
there  shall be  issued  to the  holder  hereof or his  assignee  a new  Warrant
Certificate evidencing the number of Warrants not exercised. No adjustment shall
be made for any  dividends on any Common Stock  issuable  upon  exercise of this
Warrant.
    The Warrant  Agreement  provides that upon the  occurrence of certain events
the Exercise  Price set forth on the face hereof  and/or the number of shares of
Common  Stock  issuable  upon the  exercise of each  Warrant  shall,  subject to
certain  conditions be adjusted.  Upon the exercise of any Warrant,  the Company
may, at its option,  pay cash in lieu of the  issuance of  fractional  shares of
Common Stock as provided in the Warrant Agreement.
   Warrant Certificates,  when surrendered at the office of the Warrant Agent by
the registered  holder thereof in person or by legal  representative or attorney
duly authorized in writing.  may be exchanged,  in the manner and subject to the
limitations  provided  in the  Warrant  Agreement,  but  without  payment of any
service charge, for another Warrant Certificate or Warrant  Certificates of like
tenor evidencing in the aggregate a like number of Warrants.
   Upon  due   presentation   for  registration  of  transfer  of  this  Warrant
Certificate  at the office of the  Warrant  Agent a new Warrant  Certificate  or
Warrant Certificates of like tenor and evidencing in the aggregate a like number
of Warrants  shall be issued to the  transferee(s)  in exchange for this Warrant
Certificate,  subject to the  limitations  provided  in the  Warrant  Agreement,
without  charge  except  for any tax or other  governmental  charge  imposed  in
connection therewith.
   The Company and the Warrant Agent may deem and treat the Holder(s)  hereof as
the absolute owner(s) of this Warrant Certificate  (notwithstanding any notation
of ownership  or other  writing  hereon made by anyone),  for the purpose of any
exercise hereof, of any distribution to the Holder(s) hereof,  and for all other
purposes, and neither the Company nor the Warrant Agent shall be affected by any
notice to the  contrary.  Neither  the  Warrants  nor this  Warrant  Certificate
entitles any holder hereof to any rights of a stockholder of the Company.

(Form of Election to Purchase)
(To Be Executed upon Exercise of Warrant)

   The undersigned hereby irrevocably elects to exercise the right with respect
to                 Warrants represented by this Warrant Certificate, to receive
                shares of Common Stock and herewith makes  payment
therefor in the amount of $                              .  The undersigned
requests that a certificate for such shares be registered in the name of
                                                               , whose
address is

and that such shares be delivered to                             , whose address
is
                                         .  If said number of shares is less
than all of the shares of Common Stock purchasable  hereunder,  the undersigned
requests that a new Warrant Certificate representing the remaining balance of
such shares be registered in the name of

,
whose address is                            and that such Warrant Certificate be
delivered to                                , whose address  is

 .Date:                                               Signature:

                                                     Signature Guaranteed:
Must  be a Member of a Signature Guarantee  Medallion  Program.

ASSIGNMENT

         For value received,              hereby sell, assign and transfer unto

             PLEASE INSERT SOCIAL SECURITY OR
         OTHER IDENTIFYING NUMBER OF ASSIGNEE

(Please print or typewrite name and address, including zip code of assignee)

the Warrant  evidenced  by the within  Warrant  Certificate,  together  with all
right,  title and interest  therein,  and do hereby  irrevocably  constitute and
appoint

Attorney
to transfer  said  Warrants on the books of the within  named  Company with full
power of substitution in the premises.

Dated:                              Signature

Signature(s) Guaranteed:

THE  SIGNATURE(S)  SHOULD BE  GUARANTEED  BY AN ELIGIBLE  GUARANTOR  INSTITUTION
(BANKS,  STOCKBROKERS,  SAVINGS  AND LOAN  ASSOCIATIONS  AND CREDIT  UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE  MEDALLION  PROGRAM),  PURSUANT TO
S.E.C. RULE 17Ad-15.

<PAGE>

IMPORTANT:
terms on reverse require careful reading

NC

COMMON STOCK

Non-Citizen Share Certificate
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

CUSIP 81169P 10 1
SEE REVERSE FOR CERTAIN DEFINITIONS

This Certifies that

is the registered holder of

FULLY PAID AND NON-ASSESSABLE  SHARES OF the COMMON STOCK, having a PAR VALUE OF
$.01  PER  SHARE,  OF  SEABULK  INTERNATIONAL,   INC.  (hereinafter  called  the
OCorporationO) transferable only upon the books of the Corporation by the holder
hereof in person  or by duly  authorized  attorney  upon the  surrender  of this
Certificate   properly   endorsed.   This   Certificate   is  not  valid  unless
countersigned and registered by the Transfer Agent and Registrar.
                        witness the facsimile seal of the Corporation and the
facsimile signatures of its duly authorized officers.

                        Dated:

Countersigned and Registered:
MELLON INVESTOR SERVICES LLC Transfer Agent and Registrar By:

Authorized Signature

secretary

 president and chief executive officer

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