Trico Marine Services is planning to sell more offshore supply vessels (OSVs) this year, executives said Thursday after the company reported a fourth-quarter loss that sent shares plummeting.
The Nasdaq-listed offshore vessel owner expects to earn as much in vessel sales this year as it did in the fourth quarter, when it booked $40m in proceeds from the sale of two North Sea OSVs, company managers said in a conference call with analysts.
The Woodlands, Texas-based Trico says it has already earned $20m in vessel sales and expects to cancel four newbuildings in India as it works to improve its liquidity to meet commitments.
