Trico Marine Services history

In the Gulf of Mexico, the number of available support vessels peaked at around 700 in 1985.

All told, Trico added 18 vessels in 1996 at a cost of $66.3 million.

Operating in the North Sea, Saevik’s boats were able to command $13,000 to $15,000 per day. As a result of increased day rates, revenues in 1997 soared to $125.5 million and net income more than tripled to $35.3 million.

At a time when demand was flagging, Trico took possession of four newly constructed vessels, to be followed by another pair in the early months of 1999, but the new ships had deepwater capabilities and provided a modicum of diversity to the fleet.

Conditions improved in 2000 but not early enough in the year to allow Trico to turn a profit.

In the second half of the year, softness was beginning to creep into the market, and then the terrorist attacks of September 11, 2001, dealt a severe blow to the United States economy, resulting in lower demand for natural gas and less need for drilling activities and support vessels.

Drilling activity in the Gulf continued to decline in 2002 and to a lesser extent fell off in the North Sea.

Slawsky, Richard, “Houma-Based Trico Marine Services Considering Sale of Assets to Trim Debt,” New Orleans CityBusiness, May 17, 2004.

As business picked up, Trico’s stock, which had been relegated to penny stock status and delisted from the NASDAQ, soared to $21.50 per share in April and regained its listing in October 2005 when it made a public stock offering that raised $103 million.

Business was even better at the start of 2007.