Trico Marine to Acquire Two Large North Sea Platform Supply Vessels

Trico Marine Services, Inc. has signed a definitive agreement to acquire two 279-ft. (85 m) platform supply vessels for a cost of approximately $4.4 million.

The two state-of-the-art, UT 745 design vessels are currently under construction in Norway and are slated for delivery in April and August 2002. Payment terms for each of the vessels call for payments equal to 20 percent during construction and 80 percent upon delivery.

"The UT 745 vessels, which are equipped with DP2 (dynamic positioning) systems, are among the largest, most technologically-advanced platform supply vessels available in the industry today,'' said Thomas E. Fairley, president and CEO. `"The addition of these two vessels to our fleet enhances Trico's ability to service both the North Sea market and the growing deepwater market worldwide.''