Trico Marine Services Announces Vessel Auction

Trico Marine Services, Inc. today announced that it intends to conduct an auction to sell certain additional Towing and Supply vessels, in continuation of the Company’s exit from the Towing and Supply business. The United States Bankruptcy Court for the District of Delaware (the “Court”) recently issued an Order approving the auction process for the sale of these vessels.
The vessels Trico intends to auction include the Elm River(photo), Suwanee River, Trinity River and Palma River, as well as any additional vessels whose sales have not closed by the auction date, and those vessels’ related inventory. The sale of the vessels will be on an “as is, where is” basis.
Trico intends to conduct the auction on March 21, 2011 to procure the highest and best price for the vessels, and the Court will conduct a sales hearing on March 28, 2011 to approve the sale of any auctioned vessel.
Source: Press release