Trico News

Brazil is a country with a coastline over 7,000 km long, bathed to the east by the Atlantic Ocean. Along this coastline and offshore is where the country develops its fisheries activities, maritime trade and the exploitation of a variety of biological and mineral resources. The incredible environmental and financial wealth found in these waters, and under the seabed gave way to the term - Blue Amazon – relating to the Amazon Jungle. The Blue Amazon officially covers an area of 3.5 million square kilometers. However, Brazil is calling on the United Nations to expand its borders to the limits of the continental shelf, which should raise…

DeepOcean was established in 1999 and is dedicated to subsea services and operations in deep waters, able to take on deep-water assignments anywhere in the world. The company is an integrated service provider for the subsea industry. DeepOcean has a global track record of subsea services including Survey and Seabed-mapping, Subsea Construction and Installation, Seabed Intervention, IMR, and Decommissioning. Since its entry into the Brazilian offshore market, DeepOcean has accumulated extensive experience in deepwater operation, having become a preferred partner to national operator Petrobras, which is one of the few super-majors still awarding long-term contracts for subsea IMR and subsea construction & intervention.

On 4 August, Gerhard Furø took up the position of Vice President technical and commercial for Havyard Design & Solutions AS. Gerhard Furø has previously been a consultant with Boatlabs AS, where, in recent years, he has been working under a contract with EMAS AMS and engaged in the operation of ships and technical and commercial follow-up of newbuild projects. In Havyard Design & Solutions, he will be working together with sales, design and the project organisation on the delivery of design and equipment packages. Furø's previous experience includes 16 years as project manager, project director and production director at Ulstein Shipyard.

This summer the MTS Duandra was launched in Benelux as the world’s first semi-hybrid inland waterway tanker built by Shipyard Trico B.V. The ship uses Volvo Penta diesel engines for both propulsion and generator set that helps to reduce emissions significantly. The two standard Volvo Penta D16 MG Gensets on MTS Duandra generate power for on-board electricity, thruster, cargo pumps and two electric engines which are part of the propulsion system. This setup reduces the total installed diesel power on-board the Duandra with approximately 30% compared to a conventionally built ship.

This summer the MTS Duandra was launched in Benelux as the world’s first semi-hybrid inland waterway tanker built by Shipyard Trico B.V. This ship uses Volvo Penta diesel engines for both propulsion and generator set that helps to reduce emissions significantly. The two standard Volvo Penta D16 MG Gensets on MTS Duandra generate power for on-board electricity, thruster, cargo pumps and two electric engines which are part of the propulsion system. This setup reduces the total installed diesel power on-board the Duandra with approximately 30% compared to a conventionally built ship.

Business advisory specialists, AlixPartners, honored by TMA for 'International Turnaround of the Year' for their work at DeepOcean Group. AlixPartners, the global business-advisory firm, has been honored by the Turnaround Management Association for its work, in concert with other advisors, at the company now known as DeepOcean Group Holding AS, previously the Trico Marine Group. The AlixPartners team, led by John Castellano, managing director, was cited for its contributions in the highly successful effort, which is the winner of the TMA's "Turnaround of the Year: International Company" award for 2012. The Norwegian-registered DeepOcean Group is an integrated provider of subsea…

World’s first LNG-fuelled tanker newbuilding delivered to Deen Shipping by Rotterdam's Shipyard Trico to Lloyd’s Register class. Chemical tanker MT Argonon to emit less Sox, Nox and particulates across Europe's inland waterways. The world's first new LNG-fuelled tanker has been delivered in Rotterdam to Lloyd's Register class, heralding the start of a new era of cleaner shipping for Europe's local waterways. The delivery of MT Argonon, a 6,100-dwt dual-fuelled chemical tanker…

The motto at Guido Perla & Associates, Inc. (GPA) for over thirty years and continuing to this day has always been: Engineering Ideas into Reality. For clients worldwide, no matter how large or small the project, from single vessels to an unprecedented number of vessels in one series, the adage rings true. Behind the company’s success and commitment to each and every client is a team of over 70 professionals on four continents, led by the company’s Chairman Guido Perla and supported by his management team.

HOUSTON, April 18, 2011 /PRNewswire/ -- Trico Shipping AS (the "Company"), a subsidiary of Trico Marine Services, Inc. (Pink Sheets: TRMAQ) ("Trico Marine"), announced today that it has extended the expiration date of its out-of-court exchange offer (the "Exchange Offer") to the holders ("Noteholders") of its 11 7/8% senior secured notes due 2014 (the "Notes") and the solicitation of consents to the governing indenture (the "Consent Solicitation") to 5:00 p.m. Eastern Time on April 20, 2011. Withdrawal rights under the Exchange Offer will not be extended by the new expiration date.

Trico Marine Services, Inc. (Pink Sheets: TRMAQ) announced that it has reached an agreement with the company's major constituents concerning the process of selling Trico's remaining towing and supply vessels and any related operating assets, in accordance with previous public statements that the company is exiting the towing and supply business. The United States Bankruptcy Court for the District of Delaware recently issued an order approving the agreed upon sale process. The company noted that today's announcement excludes vessels owned by entities not part of the company's bankruptcy proceedings, including Trico's North Sea Towing and Supply vessels.

Trico Marine Services, Inc. (NASDAQ:TRMA) announced that its U.S. companies and its Cayman Islands holding company have filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code (U.S. Bankruptcy Code) in the United States Bankruptcy Court for the District of Delaware. Aside from the Cayman Islands holding company, Trico's foreign subsidiaries were not included in the filing and will not be subject to the requirements of the U.S. Bankruptcy Code. Trico's U.S. and worldwide operations are expected to continue without interruption during the restructuring process. Chairman of the Board of Directors, President and Chief Executive Officer, Richard A.

A new Technical Adviser, Paul Bayliss, has joined the expanding London secretariat of the International Marine Contractors Association (IMCA). He will help to manage the significant work programme of the Association supporting members towards safer and more efficient marine operations. These include offshore construction, dynamically positioned vessels, offshore diving, remotely systems and remotely operated vehicles (ROVs), and offshore positioning/surveying (hydrographic and condition survey). “We are welcoming Paul at a particularly busy time,” explained IMCA’s Chief Executive, Hugh Williams. “Our membership is increasing dramatically, as is the association’s work programme.

Bristol Harbor Group, Inc.(BHGI), of Bristol, RI, recently completed design plans for modifications to Trico Moon, a 210-ft platform supply vessel (PSV) for Trico Marine Services Company, Inc. of Texas. Trico Marine Services and Deep Ocean Engineering, Inc. performed the modifications in Mexico, which included the addition of a habitation module, as well as subsea equipment on deck. The installation/addition of the temporary habitability module to the port side of the cargo deck…

Guido Perla & Associates, Inc. (GPA), headquartered in , has established a European subsidiary – Guido Perla Europe GmbH (GPE GmbH) – in . GPE GmbH will initially handle the sales, marketing and PR function, as well as existing customer support. ”The strategic decision to further expand GPA into Europe supports our vision of being a truly global player,” said Inga Scholz, General Manager of GPE GmbH. Since its foundation in 1979, GPA has provided a full range of services to include Conceptual and Preliminary Design…

Trico Marine Services, Inc. has reported a net loss for the second quarter ended June 30, 2003, of $42 million, or $(1.16) per share (diluted), including a charge of $5.2 million, resulting from the loss on assets held for sale and a charge of $28.6 million due to the partial impairment of goodwill primary related to the company's North Sea reporting unit. This compares to a loss of $13.8 million, or $0.38 per share (diluted) in the second quarter of 2002, which included a charge of $9.2 million resulting from the early extinguishment of debt. Second quarter 2003 revenues increased to $34.5 million compared to $32.6 million for the second quarter of 2002. The net loss for the six month period ended June 30, 2003 was $55.5 million or $(1.53) per share (diluted).

Alan C. McClure Associates (ACMA) has completed the design development of a new SWATH (Small Waterplane Area, Twin Hull) vessel that the designer says lends itself to a variety of operation options. The proposed vessel will be 92 ft. long with a 46.6-ft. beam and a displacement of 240 LT. The new vessel's design is based on a variation of the technology used by ACMA's in the development of the 120-ft. Stillwater River, a SWATH crewboat built for Trico Marine Operators, Inc., that has been successfully operating for Petrobras offshore Brazil for the past five years. The operational speed of ACMA's new SWATH has been reduced from more than 28 knots to 20 - 25 knots to accommodate a variety of conventional propulsion system combinations (diesel/reduction-gear w/CP or FP wheels).

Trico Marine Services, Inc. announced that it is continuing to make progress executing its liquidity enhancement plan. The Company completed the sale of one of its largest North Sea vessels for NOK 263.5 million, approximately $35.5 million. In addition, the company completed the sale of its Brazilian AHTS newbuild project for approximately $17.3 million. The Company recovered all of its direct vessel costs related to the project. As a result of the sale of its interest in the Brazilian AHTS newbuild project, the Company will no longer be liable for the remaining progress payments required to complete the vessel. Proceeds from the sales will be used to provide working capital and reduce the Company's outstanding bank debt.

Trico Marine Services, Inc. is pleased to announce that it has scheduled a press release and a conference call to discuss its earnings for the third quarter ended September 30, 2003. The press release will be issued before the market opens on Friday, November 14, 2003, and a conference call will be held at 2:00 p.m. Eastern time. Interested parties may listen to the call by dialing 973-409-9256 and asking for the Trico Marine Conference. It is recommended that listeners dial in five to ten minutes before the call begins. A telephonic replay will also be available shortly after the conclusion of the call and will be available until 5:00 p.m. Friday, November 21, 2003. To access the replay, dial 973-341-3080 using the pass code 4308580.

It was inevitable. For several years now crew/supply boats have been following, almost in lock step their "big brothers," the supply boats, with technical and other innovations. Drop down bow thrusters, DP-1 systems, better crew accommodations and advanced radar systems are just a few of the features first introduced on supply boats and now available on crew/supply boats. The next step in this evolution is the introduction of automated monitoring, control and alarm systems on crew/supply boats. Trico Marine, Houma, La., is now operating three 155-ft. by 28-ft. crew/supply vessels that feature what is believed to be the first ever state-of-the-art automation system on this vessel type. Gulf Craft, Patterson, La., built the three identical vessels.

Family businesses are not only numerous in the offshore vessel owners arena, but among the shipyards that build these boats as well. Gulf Craft, owned by the Tibbs family, is an excellent example of a company that has been building aluminum boats during the last five decades and has prospered under two generations of family ownership, and is positioned for a smooth transition to the third generation. The shipyard is located in Patterson, La., along Bayou Teche. The yard was founded by Scott Tibbs in 1965 and began by building small aluminum vessels of all kinds. By the early 1970's, Gulf Craft built its first crew boat for Norman McCall Boat Rentals, a 75-ft. vessel named the Joseph Alan.

Trico Marine Services, Inc. refinancing of its existing U.S. revolving credit facility ("U.S. Facility"). The Company refinanced the U.S. add operating flexibility. credit facility ("New Credit Facility") is secured by 43 supply vessels. original issue discount of 2.0% and is subject to incurrence-based covenants. offering expenses. U.S. general corporate purposes. February 2009 and will have two years of call protection. also provide incremental available liquidity.

Accelerating its strategic goal of reducing its total amount of outstanding indebtedness, Trico Marine Services, Inc. announced the appointment of Joseph Compofelice as non-executive Chairman of the Board and the retention of Lazard Freres & Co. LLC as financial advisor and Kirkland & Ellis LLP as legal advisor. This team will assist the Company's management in exploring various alternatives including selling assets, raising additional financing and restructuring the Company's debt, including its $250 million Senior Notes due 2012. Compofelice, a director of Trico since 2003, is chairman of the Company's Audit Committee and has served as an executive of several public companies including CEO of CompX International and CFO of Titanium Metals Corporation…

Trico Marine Services, Inc. announced that the Company's independent registered public accounting firm reissued its report on the Company's financial statements for the year ended December 31, 2003 with a going concern explanatory paragraph in the Company's amendment to its Form 10-K for the fiscal year ended December 31, 2003. The Company originally filed its 2003 Form 10-K on March 15, 2004 and filed the Form 10-K amendment on August 9, 2004 in order to respond to comments received from the staff of the Securities and Exchange Commission regarding the classification of indebtedness under the Company's Norwegian revolving credit facility. Due to the Company's 10-K amendment, the Company's independent registered public accounting firm was required to reissue its 2003 audit report.