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Tuesday, 14 October, 2008, 18:20 GMT | more prices >>

Plain sailing for Trico Marine



By Upstream staff 

Trico Marine Services booked a 7% increase in net income in 2007, up from the previous year's $58.7 million to $62.9 million.

Trico put the boost down to strong demand and changes to Norwegian tax rules.

In the fourth quarter specifically, trico raked in an $13.1 million in net income thanks to the tax changes.

Net income for the fourth quarter came in at $30.7 million compared with $13.2 million in 2006.

The company said while demand in US Gulf markets slowed, it had landed a number of long-term jobs - at better dayrates - in the international market.

Trico cashed in on strong demand in the North Sea, adding that spot dayrates hit record levels in the fourth quarter. It did not give a figure.

Company boss Joseph Compofelice said the real highlight of the year for the company was the acquisition of Active Subsea, which has strengthened its position as a supplier of subsea service vessels with eight VS-470 subsea vessel under construction for delivery in 2008 and 2009.


Tuesday, 19 February, 2008, 09:22 GMT  | last updated: Tuesday, 19 February, 2008, 09:35 GMT

Record Dayrates: Trico results lifted by strong international
 

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