‘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.