Island Offshore Back at Vard for Advanced OSV

Vard Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, has secured a new contract with Island Offshore for the construction of one advanced offshore support vessel.

The value of the contract amounts to approximately NOK 400 million. The hull of the vessel, designed by Rolls – Royce, will be delivered from Vard Braila in Romania.

CEO and Executive Director, Roy Reite, at VARD says, “We appreciate the long – term relations hip we have with Island Offshore. This cooperation has once again resulted in an innovative new project for VARD. In total, we have delivered more than 30 vessels to Island Offshore. Currently, VARD has five vessels under construction for Island Offshore. We look forward to continuing and developing this excellent relationship.”

The vessel is scheduled for delivery from Vard Brevik in Norway in 1Q 2015.

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Press Release, November 29, 2013