Battling on All Fronts

We don’t envy Geoff Jones, the CFO of Trico Marine Services (“TMS”), and the rest of the team at Trico, who have been very busy of late. In just the last two weeks, they have worked to bring order to their balance sheet by reducing debt and increasing liquidity. The first step in the process was the sale of two North Sea supply vessels in line with the company’s strategy to reduce both spot OSV exposure and its dependence on the supply vessel market. The proceeds of approximately $40 million will be used to repay outstanding European bank debt

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