Image of Davie Defense's Arctic Security Cutter design for the Coast Guard. Image: Davie Defense

The Coast Guard on Wednesday said it has finalized a $3.5 billion contract it awarded Davie Defense in February for five Arctic Security Cutters (ASCs), the first of which will be delivered in 2028. Bollinger Shipyards and Finland’s Rauma Marine Constructions are also awaiting to finalize their contracts with the Coast Guard to build ASCs. The service said these contracts will be finalized soon, which means terms will be fully defined. Bollinger will build four ships, the first to be…