SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, DC 20549

                                 FORM 10-Q

          X       Quarterly Report Pursuant to Section 13  or 15(d) of
        -----       the Securities Exchange Act of 1934
               For the quarterly period ended June 30, 2000

        -----      Transition Report Pursuant to Section 13 or 15(d)
                  of the Securities Exchange Act of 1934
                  For the transition period _________  to _________

                      Commission File Number 0-28316

                        TRICO MARINE SERVICES, INC.
          (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

     Delaware                                   72-1252405
   (STATE OR OTHER JURISDICTION OF        (I.R.S. EMPLOYER IDENTIFICATION NO.)
   INCORPORATION OR ORGANIZATION)


     250 North American Court
     Houma, LA                                   70363
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)        (ZIP CODE)

Registrant's telephone number, including area code (504) 851-3833


Indicate  by  check  mark whether the registrant: (1) has filed all reports
required to be filed by  Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding  12  months,  and (2) has been subject to such
filing requirements for the past 90 days.

                          Yes  X     No
                              ----      ----

   As of August 7, 2000 there were 36,000,273 shares outstanding of the
           Registrant's Common Stock, par value $.01 per share.


                        PART I.   FINANCIAL INFORMATION

                        ITEM 1.   FINANCIAL STATEMENTS

                  TRICO MARINE SERVICES, INC. AND SUBSIDIARIES

                         CONSOLIDATED BALANCE SHEETS

                                 (Unaudited)

                            (Dollars in thousands)
<TABLE>
<CAPTION>

                                                                                      June 30     December 31,
                                                                                        2000          1999
                                                                                     ----------    ----------
       ASSETS
<S>                                                                                  <C>           <C>
     Current assets:
             Cash and cash equivalents                                               $   27,577    $    5,898
             Restricted cash                                                                330           566
             Accounts receivable, net                                                    24,912        24,141
             Prepaid expenses and other current assets                                    5,262         4,740
                                                                                     ----------    ----------
                   Total current assets                                                  58,081        35,345
                                                                                     ----------    ----------
     Property and equipment, at cost:
             Land and buildings                                                           3,733         3,727
             Marine vessels                                                             590,429       619,544
             Construction-in-progress                                                     3,930         3,250
             Transportation and other                                                     2,343         3,960
                                                                                     ----------    ----------
                                                                                        600,435       630,481

     Less accumulated depreciation and amortization                                      87,330        77,093
                                                                                     ----------    ----------
             Net property and equipment                                                 513,105       553,388
                                                                                     ----------    ----------

     Goodwill, net                                                                       93,702       101,762
     Other assets                                                                        33,317        40,084
                                                                                     ----------    ----------
                                                                                     $  698,205    $  730,579
                                                                                     ==========    ==========
<CAPTION>

     LIABILITIES AND STOCKHOLDERS' EQUITY

     Current liabilities:
             Current portion of long term debt                                       $    9,026    $    7,618
             Accounts payable                                                             8,924         9,467
             Accrued expenses                                                             7,147         7,935
             Accrued interest                                                             9,212        11,746
             Income taxes payable                                                            56            57
                                                                                     ----------    ----------
                  Total current liabilities                                              34,365        36,823
                                                                                     ----------    ----------

     Long-term debt                                                                     333,652       393,510
     Deferred income taxes, net                                                          19,827        27,279
     Other non-current liabilities                                                        2,245         2,859
                                                                                     ----------    ----------
                 Total liabilities                                                      390,089       460,471
                                                                                     ----------    ----------

     Commitments and contingencies

     Stockholders' equity:
             Common stock, $.01 par value, 55,000,000 and 40,000,000 shares
                authorized, 36,072,305 and 28,462,448 shares issued and
                36,000,273 and 28,390,416 shares outstanding at June 30, 2000
                and December 31, respectively                                               361           285
             Additional paid-in capital                                                 335,526       265,031
             Retained earnings                                                           24,656        37,176
             Accumulated other comprehensive loss                                       (52,426)      (32,383)
             Treasury stock, at par value, 72,032 shares                                     (1)           (1)
                                                                                     ----------    ----------
                 Total stockholders' equity                                             308,116       270,108
                                                                                     ----------    ----------
                                                                                     $  698,205    $  730,579
                                                                                     ==========    ==========

The accompanying notes are an integral part of these consolidated financial statements.

</TABLE>
<TABLE>
<CAPTION>

                TRICO MARINE SERVICES, INC. AND SUBSIDIARIES

                   CONSOLIDATED STATEMENTS OF OPERATIONS

                                (Unaudited)

                (In thousands, except share and per share amounts)

                                                                  Three Months Ended           Six  Months  Ended
                                                                       June 30,                      June 30,
                                                               ------------------------     -------------------------
                                                                   2000         1999            2000          1999
                                                               -----------  -----------     -----------   -----------
<S>                                                            <C>          <C>             <C>           <C>
     Revenues:
          Charter hire                                         $    29,456  $    26,617     $    55,812   $    54,903
          Other vessel income                                           26           47              51            79
                                                               -----------  -----------     -----------   -----------

                Total revenues                                      29,482       26,664          55,863        54,982
                                                               -----------  -----------     -----------   -----------

     Operating expenses:
          Direct vessel operating expenses and other                17,149       16,736          32,962        34,074
          Asset write-down                                               0        1,111               0         1,111
          General  and administrative                                2,761        2,921           5,305         5,455
          Amortization of marine inspection costs                    3,545        3,444           7,434         6,696
                                                               -----------  -----------     -----------   -----------

                Total operating expenses                            23,455       24,212          45,701        47,336
                                                               -----------  -----------     -----------   -----------

     Depreciation and amortization expense                           8,508        8,098          17,056        16,102
                                                               -----------  -----------     -----------   -----------

     Operating loss                                                 (2,481)      (5,646)         (6,894)       (8,456)

     Interest expense                                                7,727        7,722          16,071        15,513
     Amortization of deferred financing costs                          367          491             716           969
     Gain on sale of assets                                         (3,923)           -          (3,923)            -
     Other income, net                                                (152)        (237)           (332)         (295)
                                                               -----------  -----------     -----------   -----------

     Loss before income taxes and extraordinary item                (6,500)     (13,622)        (19,426)      (24,643)

     Income tax benefit                                             (2,325)      (4,616)         (6,190)       (8,294)
                                                               -----------  -----------     -----------   -----------

     Loss before extraordinary item                                 (4,175)      (9,006)        (13,236)      (16,349)

     Extraordinary item, net of taxes                                  715       (1,830)            715        (1,830)
                                                               -----------  -----------     -----------   -----------

     Net loss                                                  $    (3,460) $   (10,836)    $   (12,521)  $   (18,179)
                                                               ===========  ===========     ===========   ===========

     Basic and diluted earnings per common share:
          Loss before extraordinary item                       $     (0.13) $     (0.39)    $     (0.45) $     (0.75)

          Extraordinary item, net of taxes                            0.02        (0.08)           0.03        (0.09)
                                                               -----------  -----------     -----------   -----------

          Net loss                                             $     (0.11) $     (0.47)    $     (0.42) $     (0.84)
                                                               ===========  ===========     ===========   ===========

          Average common shares outstanding                     30,683,250   22,975,339      29,536,833   21,684,051
                                                               ===========  ===========     ===========   ===========


The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>
<TABLE>
<CAPTION>

                TRICO MARINE SERVICES, INC. AND SUBSIDIARIES

                  CONSOLIDATED STATEMENTS OF CASH FLOWS

                                (Unaudited)

                               (In thousands)


                                                                                Six Months Ended
                                                                                     June 30,
                                                                            --------------------------
                                                                                2000          1999
                                                                              --------      --------

<S>                                                                           <C>           <C>
     Net loss                                                                 $(12,521)     $(18,179)
     Adjustments to reconcile net loss to net cash provided
             by operating activities:
             Depreciation and amortization                                      25,165        23,742
             Deferred income taxes                                              (5,805)       (8,339)
             Gain on sales of assets                                            (3,923)            -
             Asset write-off                                                         -         1,111
             Extraordinary item                                                   (715)        1,830
     Changes in operating assets and liabilities:
             Restricted cash                                                       228           164
             Accounts receivable                                                (1,117)        3,490
             Prepaid expenses and other current assets                          (1,252)       (1,805)
             Accounts payable and accrued expenses                              (2,911)       (1,178)
             Other, net                                                            507          (338)
                                                                              --------      --------

                  Net cash provided by (used in) operating activities           (2,344)          498
                                                                              --------      --------

     Cash flows from investing activities:
             Purchases of property and equipment                                (2,918)       (8,832)
             Deferred marine inspection costs                                   (3,148)       (7,855)
             Proceeds from sales of assets                                      14,000            37
             Other                                                                (272)         (260)
                                                                              --------      --------

                  Net cash provided by (used in) investing activities            7,662       (16,910)
                                                                              --------      --------

     Cash flows from financing activities:
             Proceeds from issuance of common stock, net of expenses            39,006        46,454
             Proceeds from issuance of long-term debt                           28,400        41,238
             Repayment of long-term debt                                       (50,683)      (47,332)
             Deferred financing costs and other                                   (154)       (1,180)
                                                                              --------      --------

                  Net cash provided by financing activities                     16,569        39,180
                                                                              --------      --------

     Effect of exchange rate changes on cash and cash equivalents                 (208)         (165)
                                                                              --------      --------

     Net increase in cash and cash equivalents                                  21,679        22,603

     Cash and cash equivalents at beginning of period                            5,898         8,737
                                                                              --------      --------

     Cash and cash equivalents at end of period                               $ 27,577      $ 31,340
                                                                              ========      ========


     Supplemental information:
          Income taxes paid                                                   $      -      $      7
                                                                              ========      ========

          Interest paid                                                       $ 17,601      $ 15,328
                                                                              ========      ========

The accompanying notes are an integral part of these consolidated financial statements.

</TABLE>
<TABLE>
<CAPTION>

                TRICO MARINE SERVICES, INC. AND SUBSIDIARIES

               CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

                                (Unaudited)

                               (In thousands)




                                                           Three Months Ended            Six Months Ended
                                                                  June 30,                   June 30,
                                                         ----------------------       ----------------------
                                                           2000          1999           2000          1999
                                                         --------      --------       --------      --------
<S>                                                      <C>           <C>            <C>           <C>

     Net loss                                            $ (3,460)     $(10,836)      $(12,521)     $(18,179)
                                                         --------      --------       --------      --------

     Other comprehensive loss, net of tax:
          Foreign currency translation adjustments         (5,061)       (2,425)       (20,043)       (5,460)
                                                         --------      --------       --------      --------


     Comprehensive loss                                  $ (8,521)     $(13,261)      $(32,564)     $(23,639)
                                                         ========      ========       ========      ========

 The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>


               TRICO MARINE SERVICES, INC. AND SUBSIDIARIES
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                (Unaudited)

1.   FINANCIAL STATEMENT PRESENTATION:

The consolidated financial statements for Trico  Marine Services, Inc. (the
"Company")  included  herein  are  unaudited but reflect,  in  management's
opinion, all adjustments, consisting  only of normal recurring adjustments,
that are necessary for a fair presentation  of  the nature of the Company's
business.  The results of operations for the three  and  six  months  ended
June 30, 2000  are not  necessarily  indicative of the results that  may be
expected for the  full  fiscal  year  or any future periods.  The financial
statements  included  herein  should  be  read  in  conjunction  with   the
financial   statements  and   notes   thereto  included  in  the  Company's
consolidated financial statements for the year ended December 31, 1999.

Certain prior period amounts have been reclassified  to  conform  with  the
presentation shown in the interim consolidated financial statements.  These
reclassifications  had  no effect on net loss,  total  stockholders' equity
or cash flows.

2.   EARNINGS PER SHARE:

For the three-month and six-month  periods  ending  June 30, 2000 and 1999,
options to purchase 2,128,480 and 1,841,855 common shares, respectively, at
prices ranging from $0.91 to $23.13 have been excluded from the computation
of diluted earnings per share because inclusion of these  shares would have
been antidilutive.

3.   SEPARATE FINANCIAL STATEMENTS FOR SUBSIDIARY GUARANTORS:

During  1997, the Company issued $280,000,000 of 8 1/2 % senior  notes  due
2005 in three  different series. In November 1998, the Company completed an
exchange offer of all the existing series of senior notes for one series of
senior notes (the  "Senior Notes").  The terms and conditions of the Senior
Notes are identical to the predecessor senior notes.

Pursuant to the terms  of  the  indenture  governing  the Senior Notes, the
Senior  Notes  must  be  guaranteed  by each of the Company's  "significant
subsidiaries" (the "Subsidiary Guarantors"),  whether such subsidiary was a
"significant subsidiary" at the time of the issuance of the Senior Notes or
becomes   a  "significant  subsidiary"  thereafter.    Separate   financial
statements  of  the  Subsidiary  Guarantors are not included in this report
because (a) the Company is a holding  company  with no assets or operations
other  than  its  investments  in  its  subsidiaries,  (b)  the  Subsidiary
Guarantors are wholly-owned subsidiaries  of  the  Company, comprise all of
the Company's direct and indirect subsidiaries (other  than inconsequential
subsidiaries) and, on a consolidated basis, represent substantially  all of
the  assets,  liabilities, earnings and equity of the Company, (c) each  of
the Subsidiary  Guarantors  must  fully  and  unconditionally guarantee the
Company's obligations under the Senior Notes on  a  joint and several basis
(subject  to  a  standard  fraudulent conveyance savings  clause)  and  (d)
management  has  determined  that   separate   financial   statements   and
disclosures  concerning  the  Subsidiary  Guarantors  are  not  material to
investors.

4.   INCOME TAXES:

The Company's effective income tax rates for the three-month periods  ended
June 30, 2000 and June 30, 1999 were 36% and 34%, respectively, and for the
six-month  periods ended June 30, 2000 and 1999, 32% and 34%, respectively.
The variance  from  the Company's statutory rate is primarily due to income
contributed by our wholly-owned  Norwegian  subsidiary,  Trico  Supply ASA,
which  is  deferred  at  the  Norwegian  statutory rate of 28%, due to  the
Company's  intent  to  permanently  reinvest the  unremitted  earnings  and
postpone their repatriation indefinitely.

5.   NEW ACCOUNTING STANDARDS:

In June 1998, the Financial Accounting  Standards Board issued Statement of
Financial  Accounting  Standards,  No.  133,   "Accounting  for  Derivative
Instruments  and  Hedging  Activities"  ("SFAS  No.  133").  SFAS  No.  133
establishes  accounting and reporting standards for derivative  instruments
and is, as amended, effective for all fiscal years beginning after June 15,
2000.  The Company  is  currently  evaluating  the impact SFAS No. 133 will
have on its financial statements, if any.

The Company is  reviewing  SEC  Staff  Accounting  Bulletin  (SAB) No. 101,
"Revenue  Recognition  in  Financial  Statements"  and  does not expect the
effect of the pronouncement on its  consolidated  financial  condition  and
results of operations to be material.

6.   SEGMENT AND GEOGRAPHIC INFORMATION (IN THOUSANDS):

The Company is a provider of marine support services  to  the  oil  and gas
industry.   Substantially  all  revenues result from the charter of vessels
owned by the Company.  The Company's three reportable segments are based on
geographic area, consistent with  the  Company's management structure.  The
accounting policies of the segments are  the  same,  except for purposes of
income  taxes and intercompany transactions and balances.   The  North  Sea
segment provides  for  a  flat  tax  rate  of  28%,  which is the Norwegian
statutory  tax  rate.   Additionally,  segment  data includes  intersegment
revenues,  receivables  and  payables,  and  investments   in  consolidated
subsidiaries.   The  Company  evaluates  performance  based  on net  income
(loss).   The  U.S.  segment  represents the Company's domestic operations.
The North Sea segment primarily includes Norway and the United Kingdom, and
the Other segment mainly represents  the  Company's  Brazilian  operations.
Segment data as of and for the three-month and six-month periods ended June
30, 2000 and 1999 are as follows:

<TABLE>
<CAPTION>
<S>                                     <C>          <C>           <C>        <C>
  Three Months Ended June 30, 2000          U.S.      NORTH SEA      OTHER       TOTALS
  --------------------------------      ----------   ----------    ---------  ----------
Revenues from external customers        $   13,852   $   13,238    $   2,392  $   29,482
Intersegment revenues                           36          ---          ---          36
Segment net income (loss)                   (4,390)       1,461         (531)     (3,460)


  Three Months Ended June 30, 1999           U.S.     NORTH SEA      OTHER       TOTALS
  --------------------------------      ----------   ----------    ---------  ----------
Revenues from external customers        $    9,622   $   14,869    $   2,173  $   26,664
Intersegment revenues                           36          ---          ---          36
Segment net income (loss)                  (12,743)       2,298         (391)    (10,836)


  Six Months Ended June 30, 2000             U.S.     NORTH SEA      OTHER       TOTALS
  --------------------------------      ----------   ----------    ---------  ----------
Revenues from external customers        $   27,831   $   23,563    $   4,469   $  55,863
Intersegment revenues                           72          ---          ---          72
Segment net loss                           (11,467)          (7)      (1,047)    (12,521)
Segment total assets                       579,062      362,191       40,260     981,513


  Six Months Ended June 30, 1999             U.S.     NORTH SEA       OTHER      TOTALS
  --------------------------------      ----------   ----------    ---------  ----------
Revenues from external customers            21,122       29,597        4,263      54,982
Intersegment revenues                          252          ---          ---         252
Segment net income (loss)                  (21,808)       4,580         (951)    (18,179)
Segment total assets                       621,620      399,048       42,164   1,062,832
</TABLE>



A  reconciliation  of  segment  data to consolidated data as of and for the
three-month and six-month periods  ended  June  30,  2000  and  1999  is as
follows:

<TABLE>
<CAPTION>
                                                                           Three months ended June 30,
                                                                           ---------------------------
                                                                               2000           1999
                                                                            ---------      ---------
<S>                                                                         <C>            <C>
 Revenues
      Total revenues from external customers and intersegment revenues
        for reportable segments                                             $  29,518      $  26,700
      Elimination of intersegment revenues                                        (36)           (36)
                                                                            ---------      ---------
                         Total consolidated revenues                        $  29,482      $  26,664
                                                                            =========      =========
</TABLE>
<TABLE>
<CAPTION>


                                                                             SIX MONTHS ENDED JUNE 30,
                                                                            --------------------------
                                                                               2000           1999
                                                                            ---------      ---------
<S>                                                                         <C>            <C>
Revenues
      Total revenues from external customers and intersegment revenues
        for reportable segments                                             $  55,935      $  55,234
      Elimination of intersegment revenues                                        (72)          (252)
                                                                            ---------      ---------
                         Total consolidated revenues                        $  55,863      $  54,982
                                                                            =========      =========
</TABLE>
<TABLE>
<CAPTION>
                                                                                   AS OF JUNE 30,
                                                                            ---------------------------
                                                                               2000           1999
                                                                            ---------      ------------
<S>                                                                         <C>            <C>
Assets
      Total assets for reportable segments                                  $1,062,832      $1,062,832
      Elimination of intersegment receivables                                   (2,679)         (1,342)
      Elimination of investment in subsidiaries                               (280,629)       (289,683)
                                                                            -----------     -----------
                         Total consolidated assets                           $ 698,205       $ 771,807
                                                                            ==========     ============
</TABLE>


7.   SALE OF LIFTBOATS:

In May, 2000 the Company sold its six liftboats  for  $14,000,000  in cash.
The Company recognized a gain of approximately $3,923,000, before taxes, on
the  sale  and  all  proceeds from the sale were used to reduce outstanding
debt under the Company's bank credit facility.

8.   PUBLIC OFFERING OF COMMON STOCK:

In May, 2000 the Company completed a public offering of 4,500,000 shares of
$.01 par value common  stock.  The proceeds received from the offering were
$39,006,000, net of underwriting  discounts  and other costs of $1,494,000.
Of  the  net  proceeds, $31,624,000 was used to repay  amounts  outstanding
under the Company's  bank credit facility plus related accrued interest and
the balance of the proceeds was used for working capital.

9.   EXCHANGE OF COMMON STOCK FOR SENIOR NOTES:

In June, 2000 the Company  exchanged  3,109,857  shares  of  $.01 par value
common  stock  for $32,140,000 face amount, plus accrued interest,  of  its
$280,000,000 8 1/2  %  senior  notes  due  2005.   In  connection  with the
exchange,  the  Company  recognized an extraordinary gain  of approximately
$715,000, after taxes  of  $386,000  and  the write-off of unamortized debt
issuance costs.



   ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                         AND RESULTS OF OPERATIONS


This  discussion  and  analysis  of  financial  condition  and  results  of
operations should be read  in  conjunction  with the unaudited consolidated
financial statements and the related disclosures included elsewhere herein.

                           RESULTS OF OPERATIONS

Revenues for the second quarter and six months  ended  June  30,  2000 were
$29.5  million  and  $55.9  million,  respectively,  compared  to the $26.7
million and $55.0 million in revenues for the second quarter and  first six
months of 1999, respectively. This increase in revenues was principally due
to  the  increase in average vessel day rates and utilization for our  Gulf
supply boats.   Low  oil prices experienced in 1998 and early 1999 resulted
in a decrease in offshore industry activity, which resulted in decreases in
average day rates and  utilization of our vessels.  Additionally, the entry
of newly built vessels into  markets  where  we  operate  contributed to an
increased  competitive  environment,  which  also depressed day  rates  and
utilization rates.  Such decreases in day rates  and  utilization were most
pronounced during the first three quarters of 1999, in  the  case  of  1the
Gulf, and in late 1999 and the first quarter of 2000 for the North Sea. The
table  below  sets  forth  by  vessel  class,  the  average  day  rates and
utilization  of  the  Company's  vessels  and the average number of vessels
owned during the periods indicated.

<TABLE>
<CAPTION>

                                        THREE MONTHS ENDED JUNE 30,         SIX MONTHS ENDED JUNE 30,
                                        ---------------------------         -------------------------
                                           2000            1999                 2000            1999
                                           ----            ----                 ----            ----
<S>                                     <C>              <C>                <C>               <C>
Average Day Rates:
Supply                                   $ 3,409         $ 3,123              $ 3,379         $ 3,399
Supply/Anchor Handling (N. Sea)            9,802          10,093                9,259          10,496
Lift                                       3,891           4,016                3,942           4,296
Crew/Line Handling                         2,422           1,783                2,354           1,841

Utilization:
Supply                                      71%             52%                  70%             53%
Supply/Anchor Handling (N. Sea)             82%             95%                  77%             91%
Lift                                        50%             47%                  46%             47%
Crew/Line Handling                          74%             80%                  75%             81%

Average Number of Vessels:
Supply                                     53.0            53.0                 53.0            53.0
Supply/Anchor Handling (N. Sea)            18.0            17.0                 18.0            17.0
Lift                                        3.0             6.0                  4.5             6.0
Crew/Line Handling                         22.0            21.0                 22.0            21.0
</TABLE>

Supply  boat day rates in the Gulf for the second  quarter  and  first  six
months of  2000 increased 9.2% to $3,409, compared to $3,123 for the second
quarter of 1999, but were essentially unchanged for the first six months of
2000 compared  to  the  first  six months of 1999. Utilization for the Gulf
supply boat fleet increased for  the second quarter and six-month period to
71%  and 70%, respectively, compared  to  52%  and  53%  for  the  year-ago
periods,  due  to improved market conditions in the Gulf and reduced vessel
downtime for drydocking and refurbishment.

Average day rates  for  our  North  Sea  vessels for the second quarter and
first six months of 2000 decreased 2.9% to  $9,802  and  11.8%  to  $9,259,
respectively,  compared  to  $10,093  and  $10,496  for the comparable 1999
periods, due to decreased demand in the North Sea compared  to the year-ago
period, especially in the first quarter of 2000.

Utilization of our North Sea vessels was 82% and 77% for the second quarter
and first six months of 2000, respectively, compared to 95% and 91% for the
year-ago  periods.  As  a  result  of low market day rates and utilization,
which existed in 1999 and early 2000, we de-activated  two of our North Sea
PSV's in the  third  quarter of 1999.  A third PSV was de-activated  in the
fourth quarter of 1999. North Sea utilization in the first quarter of  2000
was also adversely affected by vessel downtime for the drydocking of  three
vessels.  Additionally, during the  first quarter of 2000 we also mobilized
two  North  Sea  vessels  to  other international areas in  response to new
contract awards.  Late in the first quarter of 2000, we began to experience
increases  in utilization  and  day  rates  for  our  vessels  in the North
Sea and, as a  result,  in  June  we  activated  one  of the three inactive
PSV's.  A second inactive PSV was activated and began working in July 2000.

Day  rates  for  crew  boats and line handling vessels increased 35.8 %  to
$2,422 for the second quarter,  from $1,783 for the second quarter  of 1999
due  to  new  contracts  we were  awarded  for several of our line handling
vessels in Brazil and  increases  in  day rates for crew boats in the Gulf.
Utilization for the crew boats and  line  handling vessels decreased to 74%
for the second quarter of 2000, compared to  80%  for  the  comparable 1999
period,  due  to  a  high level of vessel drydocking for the line  handling
vessels in Brazil.

During the second quarter  and  first  six  months  of  2000, direct vessel
operating expenses were $17.1 million (58.2% of revenues) and $33.0 million
(59.0%  of  revenues),  respectively, compared to $16.7 million  (62.8%  of
revenues) and $34.1 million (62.0% of revenues), for the second quarter and
first six months of 1999.   Direct  vessel  operating expenses decreased in
the first six months of 2000 compared to the  year-ago  period  due to cost
controls  that  we  implemented.   The  decrease in direct vessel operating
expenses was partially offset by additional  expenses  associated  with two
large new vessels that were placed into service in mid-1999. Direct  vessel
operating  expenses  as  a  percentage  of  revenues  decreased  due to the
increase  in  utilization and average vessel day rates for our Gulf  supply
boats and the cost controls that we implemented.

Depreciation and  amortization  expense increased to $8.5 million and $17.1
million for the second quarter and  first six months of 2000, respectively,
up from $8.1 million and $16.1 million for the year-ago periods as a result
of the new vessels added to the fleet.   Amortization  of marine inspection
costs increased to $3.5 million and $7.4 million for the  quarter  and  six
month  period ended June 30, 2000, respectively, from $3.4 million and $6.7
million  in  the  comparable  1999 periods, due to increased drydocking and
marine inspection costs which we  incurred  over the previous two years due
to our fleet upgrade and refurbishment program.

General and administrative expenses decreased  to  $2.8  million  (9.4%  of
revenues)  and  $5.3  million  (9.5% of revenues) in the second quarter and
first  six  months  of 2000, respectively,  from  $2.9  million  (11.0%  of
revenues) and $5.5 million (9.9% of revenues) for the 1999 periods. General
and administrative expenses,  as a percentage of revenues, decreased in the
2000 periods due to various cost  control  measures we implemented, and the
increase in utilization and average day rates for our Gulf supply boats.

Interest expense was unchanged at $7.7 million  for  the  second quarter of
2000 from $7.7 million for the second quarter of 1999.

In  the  second  quarter  and first six months of 2000, we had  income  tax
benefits  of  $1.9 million  and $5.8  million,  respectively,  compared  to
income  tax  benefits of $5.6 million and $9.3 million in the 1999 periods.
Our effective income tax  rate  for  the  three-month period ended June 30,
2000 was 36%.


LIQUIDITY AND CAPITAL RESOURCES

Our ongoing capital requirements arise primarily  from  our need to service
debt, fund working capital, acquire, maintain or improve equipment and make
other investments.  Historically, internally generated funds and equity and
debt financing had provided funding for these activities.   However, due to
the  reduction in industry activity, which occurred in 1998 and  1999,  and
the resulting  decreases in day rates and utilization rates, we experienced
a net loss during  1999 and the first six months of 2000.  As a result, our
capital requirements  have  been  primarily  funded through the issuance of
additional equity and the incurrence of debt.

During 1999, we completed vessel construction  and upgrade projects that we
committed  to  prior  to the downturn in industry activity.   Additionally,
during the second quarter  of  1999  we  completed  our  vessel improvement
program  that  consisted  of the extensive upgrade and refurbishment  of  a
significant portion of our Gulf supply boat fleet. While this refurbishment
program resulted in significant  vessel  downtime  in 1998 and in the first
half of 1999, we believe that it extended the service  lives of many of our
vessels and will significantly reduce required capital expenditures in 2000
and  beyond.   Capital  expenditures  for  the  first  six months  of  2000
consisted principally of  $2.9  million for vessel improvements,  and  $3.1
million of deferred marine  inspection costs.  Capital expenditures for the
remainder of 2000 will  be  primarily limited to regulatory-mandated vessel
dry-docking costs.

Funds during the first six months of 2000 were provided by $39.0 million in
net proceeds from the issuance of common equity in a public offering, $14.0
million in proceeds from asset sales, and $28.4 million in borrowings under
our bank credit facilities.  During  the  first six months of 2000, we used
$2.3 million in funds for operating activities,  repaid  $50.7  million  of
debt  and  made  capital expenditures totaling $6.1 million, which included
$3.1  million  of  deferred   marine   inspection   costs.   Other  capital
expenditures during the period consisted primarily of vessel improvements.

In May 2000 we closed on the sale of our six liftboats for $14.0 million in
cash.   As  a result of the sale, we recognized a gain,  before  taxes,  of
approximately  $3.9  million.   Proceeds  of  the  sale were used to reduce
amounts outstanding under our bank credit facility.

In June 2000, we exchanged 3.1 million shares of our common stock for $32.1
million  face amount, plus accrued interest, of our $280.0  million  8-1/2%
senior notes  due  2005.   We  now  have  outstanding  approximately $247.9
million in senior notes.  The senior notes are unsecured  and  are required
to be guaranteed by all of our significant subsidiaries.  Except in certain
circumstances, the senior notes may not be prepaid until August 1, 2001, at
which time they may be redeemed, at our option, in whole or in part,  at  a
redemption  price  equal  to 104.25% plus accrued and unpaid interest, with
the  redemption  price declining  ratably  on  August  1  of  each  of  the
succeeding three years.   The indenture governing the senior notes contains
certain covenants that, among  other  things,  limit  our  ability to incur
additional debt, pay dividends or make other distributions,  create certain
liens, sell assets, or enter into certain mergers or acquisitions.

We maintain a bank credit facility that provides a revolving line of credit
that  can  be  used  for  acquisitions and general corporate purposes.   In
August 2000, we amended our  $52.5  million  revolving  line  of  credit to
reduce  the facility amount to $45.0 million, decrease the interest  margin
and modify certain covenants. The bank credit facility is collateralized by
a mortgage  on substantially all of our vessels other than those located in
the North Sea  and Brazil.  Amounts borrowed under the bank credit facility
mature on July 19,  2002  and  bear  interest at a Eurocurrency rate plus a
margin that depends on our leverage ratio.   As  of August 11, 2000, we had
no outstanding borrowings under the bank credit facility.  The  bank credit
facility  requires  us to maintain certain financial ratios and limits  our
ability to incur additional  indebtedness,  make  capital expenditures, pay
dividends or make certain other distributions, create  certain  liens, sell
assets  or  enter into certain mergers or acquisitions.  Although the  bank
credit facility  does  impose  some  limitations  on  the  ability  of  our
subsidiaries   to   make   distributions   to   us,  it  expressly  permits
distributions to us by our significant subsidiaries for scheduled principal
and interest payments on the senior notes.

We also maintain a Norwegian revolving credit facility in the amount of NOK
500 million ($58.3 million).  The commitment amount for this Norwegian bank
facility reduces by NOK 50 million ($5.8 million)  every  six  months, with
the  balance  of  the commitment to expire in June 2003.  As of August  11,
2000,  we  had approximately  NOK  450  million  ($52.4  million)  of  debt
outstanding under the facility.  The weighted average interest rate for the
Norwegian bank  facility  was  7.8% as of June 30, 2000.  In April 2000, we
executed a new loan agreement for  an additional Norwegian bank facility in
the amount of NOK 125 million ($14.6  million).   The commitment amount for
this additional facility reduces by NOK 12.5 million  ($1.5  million) every
six  months  beginning  June  2001,  with the balance of the commitment  to
expire June 2003. As of August 11, 2000, this additional facility was fully
drawn. The weighted average interest rate  for  this  additional  Norwegian
bank  facility  was  8.1%  as  of  June  30,  2000.  The two Norwegian bank
facilities are collateralized by security interests in certain of our North
Sea vessels, requires Trico Supply to maintain certain financial ratios and
limits the ability of Trico Supply to create liens, or merge or consolidate
with  other entities. Amounts borrowed under the  Norwegian  bank  facility
bear interest at NIBOR (Norwegian Interbank Offered Rate) plus a margin.

We believe that cash generated from our operations, together with available
borrowings  under  our  bank  credit  facilities  and additional borrowings
permitted  under  the  indenture  governing  the  senior   notes,  will  be
sufficient  to fund our working capital requirements and currently  planned
capital expenditures.   As  we  have  previously  stated,  it  has been our
objective  to  improve our financial flexibility by taking steps to  reduce
financial leverage  and  improve  liquidity.  As part of that objective, we
completed  the transactions described  above,  including  the  issuance  of
common stock  in  connection  with  the equity offering and the senior note
exchange, as well as the sale of the lift boats. We also intend to position
ourselves to pursue any acquisition opportunities  that  we  believe may be
presented  in  our  selected market areas. Depending upon the size  of  any
acquisition, it is likely  that  we would require additional equity or debt
financing. However, we can give no assurances regarding the availability or
terms  of  any  possible transactions  and  the  related  debt  and  equity
financing.

NEW ACCOUNTING STANDARDS

In June 1998, the Financial Accounting  Standards Board issued Statement of
Financial  Accounting  Standards,  No.  133,   "Accounting  for  Derivative
Instruments  and  Hedging  Activities"  ("SFAS  No.  133").  SFAS  No.  133
establishes  accounting and reporting standards for derivative  instruments
and is, as amended, effective for all fiscal years beginning after June 15,
2000.  The Company  is  currently  evaluating  the impact SFAS No. 133 will
have on its financial statements, if any.

The Company is  reviewing  SEC  Staff  Accounting  Bulletin  (SAB) No. 101,
"Revenue  Recognition  in  Financial  Statements"  and  does not expect the
effect of the pronouncement on its  consolidated  financial  condition  and
results of operations to be material.

CAUTIONARY STATEMENTS

"Management's Discussion and Analysis of Financial Condition and Results of
Operations"  includes   certain  "forward-looking  statements"  within  the
meaning of Section 27A of  the  Securities  Act  and  Section  21E  of  the
Exchange  Act.   All  statements  other  than statements of historical fact
included  in this section regarding the Company's  financial  position  and
liquidity,  its  strategic  alternatives,  future  capital  needs, business
strategies,  scheduled drydockings and related vessel downtime,  and  other
plans and objectives of management of the Company for future operations and
activities, are  forward-looking  statements. These statements are based on
certain assumptions and analyses made  by the Company's management in light
of  its  experience  and  its  perception  of  historical  trends,  current
conditions, expected future developments and  other factors it believes are
appropriate under the circumstances.  Such statements  are subject to risks
and  uncertainties,  including the Company's  dependence on the oil and gas
industry  and  the volatility of that industry, the  Company's  ability  to
manage growth,  competition  in  its industry, the  risk  of  international
operations  and  currency  fluctuations,   general  economic  and  business
conditions, the business opportunities that may be presented to and pursued
by  the  Company, changes in law or regulations and other factors, many  of
which are beyond the control of the Company.  Although the Company believes
that  the  expectations  reflected  in  such forward-looking statements are
reasonable, it  can  give no assurance that such expectations will prove to
have been correct. Such statements are not guarantees of future performance
and  the  actual results or developments may  differ  materially from those
projected in the forward-looking statements.


    ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Our market risk exposures primarily include interest rate and exchange rate
fluctuations  on  derivative and financial instruments as  detailed  below.
Our  market  risk sensitive  instruments  are  classified  as  "other  than
trading".

We have entered  into a number of variable and fixed rate debt obligations,
demoninated in both  the  U.S.  Dollar  and the Norwegian Kroner (Norwegian
debt payable in Norwegian Kroner).  The instruments are subject to interest
rate  risk.   We manage this risk by monitoring  our  ratio  of  fixed  and
variable rate debt  obligations  in  view of changing market conditions and
from time to time altering that ratio.   We  also  enter into interest rate
swap  agreements,  when  considered  appropriate, in order  to  manage  our
interest rate exposure.

Our  foreign subsidiaries collect revenues  and  pay  expenses  in  several
different  foreign currencies.  We monitor the exchange rate of our foreign
currencies and, when deemed appropriate, enter into hedging transactions in
order to mitigate  the  risk  from  foreign  currency fluctuations. We also
manage our foreign currency risk by attempting  to contract foreign revenue
in U.S. Dollars whenever practicable.  At June 30,  2000,  we  had  no open
foreign currency forward exchange contracts.

Our  market risk estimates have not changed materially from those disclosed
in our 1999 Form 10-K, incorporated herein by reference.



                        PART II.  OTHER INFORMATION

       ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

   (a)  The  Annual Meeting of Stockholders of the Company was held on June
        7, 2000 (the "Annual Meeting").

   (b)  At the  Annual Meeting, Ronald O. Palmer and Joel V. Staff were re-
        elected to  serve  until the annual meeting of stockholders for the
        year 2003.  In addition  to  the  directors  elected  at the Annual
        Meeting,  the terms of Thomas E. Fairley, Benjamin F. Bailar,  H.K.
        Acord, Edward  C.  Hutcheson, Jr. and James C. Comis, III continued
        after the Annual Meeting.

   (c)  At the Annual Meeting,  holders  of  shares of the Company's Common
        Stock elected two directors with the number  of  votes cast for and
        withheld for such nominees as follows:

<TABLE>
<CAPTION>
                         NAME                 FOR              WITHHELD
                   ----------------    ----------------     ---------------
<S>                                                     <C>        <C>
                   Ronald O. Palmer       25,998,842            278,075

                     Joel V. Staff        25,999,692            277,225
</TABLE>

     With  respect  to  the  election  of  the  directors,  there  were  no
     abstentions and non-votes totaled 2,113,499.

     At  the  Annual  Meeting,  the  stockholders voted on and approved  an
     amendment  to  the  Company's  Amended  and  Restated  Certificate  of
     Incorporation to increase the number  of  authorized  shares of Common
     Stock to 55,000,000 shares.  Holders of 25,604,025 shares  voted  for,
     holders  of  626,414 shares voted against and holders of 46,478 shares
     abstained from  voting  on  such  proposal.  Non-votes with respect to
     such proposal totaled 2,113,499.

     At the Annual Meeting, the stockholders  also voted on and approved an
     amendment  to  the  Company's  Amended  and  Restated  1996  Incentive
     Compensation  Plan to increase the number of shares  of  Common  Stock
     available thereunder from 900,000 to 1,500,000.  Holders of 22,658,975
     shares voted for,  holders  of  3,554,560  shares  voted  against  and
     holders of 63,382 shares abstained from voting on such proposal.  Non-
     votes with respect to such proposal totaled 2,113,499.

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits:

         3.1  Amended  and  Restated  Certificate  of  Incorporation of the
              Company. 1

         3.2  Amendment to the Amended and Restated Certificate of
              Incorporation of the Company.

         3.3  By Laws of the Company. 1

         4.1  Specimen Common Stock Certificate. 2

        11.1  Computation of Earnings Per Share.

        27.1  Financial Data Schedule.

____________________________
     1  Incorporated  by reference to the Company's Current  Report  on
        Form 8-K dated July  21,  1997  and  filed  with  the Commission on
        August 1, 1997.

     2  Incorporated   by  reference  to  the  Company's  Registration
        Statement on Form S-1 (Registration Statement No. 333-2990).


(b) Reports on Form 8-K:

 (i)    Report on Form 8-K dated May 11, 2000 reporting "Item 5 - Other Events
        and Item 7 -Financial Statements and Exhibits."

 (ii)   Report on Form 8-K dated May 23, 2000 reporting "Item 5 - Other Events
        and Item 7 -Financial Statements and Exhibits."

 (iii)  Report on Form 8-K dated May 23, 2000 reporting "Item 5 - Other Events
        and Item 7 -Financial Statements and Exhibits."

 (iv)   Report on Form 8-K dated May 26, 2000 reporting "Item 5 - Other Events
        and Item 7 -Financial Statements and Exhibits."

 (v)    Report on Form 8-K dated June 14, 2000 reporting "Item 5 - Other Events
        and Item 7 -Financial Statements and Exhibits."



                                 SIGNATURE

Pursuant to the  requirements  of  the  Securities  Exchange  Act  of 1934,
Registrant  has  duly caused this report to be signed on its behalf by  the
undersigned thereunto duly authorized.


                              TRICO MARINE SERVICES, INC.





                              By: /s/ Kenneth W. Bourgeois
                                 ------------------------------------
                                      Kenneth W. Bourgeois
                                  Chief Accounting Officer and
                                     duly authorized officer


Date: August 14, 2000