‘Cecon Pride’ OCV getting ready for Mediterranean adventure

Cecon today announced that the Cecon Pride offshore construction vessel has successfully completed its sea-trials.

The vessel, built by Quebec’s Davie Shipyard, is in the in the process of being handed over prior to departure for the Mediterranean, where it will start a 10 month contract with Micoperi.

Cecon Pride will be utilized for projects in the SURF market, for activities such as flexible pipelines and risers, umbilicals, subsea installations, WOROV operations and tie-ins.

Also, Cecon, through its subsidiary Rever Offshore AS (“Rever”), has signed an agreement that extend the maturity of the senior tranche A and tranche B bonds funded by certain funds and accounts managed by York Capital Management Global Advisors, LLC or its affiliates (York) up to 31st August.

The holder of the Tranche A Bonds and the Tranche B Bonds will receive an extension fee of USD 17.500 per day for the days of extension used. This ensures sufficient flexibility to complete the refinancing of the vessel post delivery.

 

August 19, 2014

 

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