Vard to build two OSVs for an undisclosed client
- Business & Finance
Vard Holdings Limited has secured contracts with an undisclosed customer for the construction of two offshore support vessels.
The total value of the contracts amounts to close to NOK 600 million (USD 100.3 million). Delivery is scheduled from Vard Brevik in Norway in 3Q 2015 and 4Q 2015. The hulls of the vessels will be delivered from Vard Braila in Romania.
Largest order ever
In a separate statement, Vard yesterday revealed it has signed a letter of intent with Solstad Offshore to build a large Offshore Subsea Construction Vessel (OSCV). The OSCV vessel will be the largest in the Solstad fleet as well as the largest ever constructed by VARD.