Cecon sweats on Davie 3

Fincantieri leads a group of experts drafted in by offshore shipowner Cecon as it sweats on the future of three newbuildings at embattled Davie Yards.

Oslo-listed Cecon says the delegation will look into the status of its three newbuildings at the Canadian yard before deciding how best to complete the ships.

Terje Tellefsen, CEO of the shipowner, says his preferred option is to finish the ships at Davie.

If “God forbid” the yard is unable to restructure, Cecon will be forced to switch the order elsewhere, Tellefsen adds.

After filing for bankruptcy protection last month Davie told Cecon the newbuildings would be further delayed and costs significantly increased.

Its warning came after over 1,500 of the yard’s staff were shown the door.

Cecon paid $145m for the 10,000-dwt construction vessels which had been set for delivery this year.

As TradeWinds has reported Davie has reduced its workforce to just 160 following its financial difficulties.

Upper Lakes Marine & Industrial, SNC-Lavalin Defence Contractors and DRS Technologies will work with Fincantieri and Cecon on the review.

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