Rickmers Singapore Christened in Namesake City
Rickmers Singapore, one of nine new Superflex Heavy Multi-Purpose Container (MPC) vessels being built in China for Rickmers-Linie, Hamburg, was christened on September 5, 2003 in its namesake city Singapore. Rickmers Singapore is employed on Rickmers' Round-The-World Pearl String Service having been delivered to the company in March 2003. The ship has since proven its reliability and is now performing its second circumnavigation. On its christening call, the vessel discharged among other cargo 12 modules, each of which had a unit weight between 130 and 145 tons. Karin Gänger, wife of Ulf Gänger, former Director of the Hamburgische Landesbank (now HSH Nordbank), acted as the vessel's godmother.
Trico Announces $50M Refinancing of Credit Facility
Trico Marine Services, Inc. announced that it has entered into a new $50 million revolving credit facility to refinance its previous $45 million credit facility. The new facility will mature on December 18, 2005, and is structured as a senior secured revolving credit facility. Proceeds from the facility will be used for working capital needs, capital expenditures and other general corporate purposes. The facility will be secured by mortgages on substantially all of the company's Gulf of Mexico class supply boats and crew boats. The new facility, containing customary terms and conditions, replaces the previous facility, which was scheduled to expire in June 2003. Nordea acted as lead arranger and book runner for the new facility and will serve as administrative agent.
