Rever is a ship owning and subsea focused contracting business, with four wholly owned subsidiaries; the ship owning companies Cecon Shipping 1 AS, Cecon Shipping 2 AS, and Cecon Shipping 3 AS, in addition to Cecon Contracting.

Rever Offshore AS has completed one and has another two offshore construction vessels (OSV) under construction at Davie Yards in Québec (Davie), Canada. The vessels are of Vik-Sandvik VS-4220 design for use as, e.g., Pipe lay, ROV, Subsea construction, Seismic vessel, etc. The vessels were ordered back in 2007 by Cecon ASA, but due to financial problems at the yard, construction ceased in 2010 when Davie entered into creditor protection in Canada, the Canadian Companies' Creditors Arrangement Act. After restructuring in 2012, completion contracts with the yard were signed by the three ship-owning subsidiaries and construction financing for the three vessels was secured from York Capital Management.

The first vessel, the Cecon Pride, was delivered in August 2014, and has been operating successfully in the Mediterranean and outside West Africa under contract with Italian operator Micoperi. The Pride was sold to Fortress investment Group after delivery. The second and third vessel are under completion with expected deliveries second half 2016.

The majority owner and controlling shareholder in Rever is York Capital Management.

For further information please contact us or visit the Cecon Contracting website: www.cecon.no

Contact information

Rever Offshore AS
Øyvind M. Jensrud, CEO
Nedre Vollgate 1
0158 Oslo, Norway
Tlph.: +47 90836106
Email: omj@rever.no