Trico Marine Services, Inc. (Pink Sheets: TRMAQ) (the "Company" or "Trico") today announced that it has extended the date of its previously scheduled 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.
Trico now intends to conduct the auction on March 28, 2011 to procure the highest and best price for the vessels, and the Court will conduct a sales hearing on April 4, 2011 to approve the sale of any auctioned vessel. Previously the auction was to occur on March 21, 2011.
The vessels Trico intends to auction currently include the 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. The Company noted that the Elm River has been sold and is no longer up for auction.