Trico Marine Files 10-Q For 4Q

Friday, May 16, 2003
Trico Marine Services, Inc. announced that it has filed its Form 10-Q for the quarter ended March 31, 2003 with the Securities and Exchange Commission in which it describes its 2003 liquidity enhancing plan to ensure adequate funding for its operations and capital needs.

As part of this plan, the Company also announced that its Norwegian operating subsidiary has executed a commitment letter with one of its existing lead lenders to enter into a new three year NOK 150 million (approximately US$21.9 million) term loan facility. Proceeds from the loan will be used to refinance an outstanding NOK 40 million (approximately $5.8 million) term loan due June 30, 2003 and repay amounts outstanding under the Company's NOK 760 million (approximately US$11 million) revolving credit facility and provide additional borrowing capacity.

Other key elements of this plan include: the sale of one of its largest AHTS North Sea class vessels or one or more other North Sea class vessels through a variety of transaction structures to raise capital and repay debt; obtaining a $4.5 million U.S. federal income tax refund; obtaining an equity partner and funding for its Brazilian AHTS newbuild project from the Brazilian development bank.

Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Icon Terminates Shipbuilding Contract

Icon Offshore Bhd and its partner FOB Swath Malaysia A/S have agreed to terminate their shipbuilding contract with Denmark-based Danish Yachts AS.    Icon-FOB

Asian Shipping Lines Lowers Fees

China’s National Development and Reform Commission (NDRC) said Japan’s Kawasaki Kisen Kaisha (K Line), South Korea’s Hanjin Shipping, Hyundai Merchant Marine (HMM),

Poland: First LNG Shipment due in Nov-Dec

Poland expects to receive its first cargo of liquefied natural gas at its new LNG terminal at the end of November or early December, the treasury minister was quoted as saying on Sunday.

Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0932 sec (11 req/sec)