Cecon Update on Delivery of First Vessel

Cecon has confirmed that the ramp-up and progress at Chantier Davie Canada Inc. for completion of the first vessel is now well underway. The yard confirms delivery of the first vessel “Cecon Pride” to take place during week 8/2014 as per the contract.

The sea trials will take place during second half January 2014.

Currently a staff of over 400 is on site with a continued build up during the coming weeks. Cecon ASA looks forward to receiving the first vessel under the new yard contract and the new yard management.

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Cecon, July 11, 2013