Viking to Order Up to Four Cruise Ships from Vard

  • Business & Finance

Norwegian shipbuilder and ship designer Vard Holdings Limited (VARD) has signed a Letter of Intent for the design and construction of two special cruise vessels for cruise ship owner Viking Cruises.

According to the agreement, the two units are scheduled for delivery in the second quarter of 2021 and the second quarter of 2022, respectively. The deal includes an option for two more vessels to be built by the shipbuilder, a subsidiary of Fincantieri.

The potential contract value for two vessels is expected to be around NOK 4.5 billion (USD 573.6 million). The parties plan to enter into a final contract by mid-2018.

VARD said that the project will be developed by Vard Design in close cooperation with the customer, according to the highest safety and reduction of the environmental impact standards.

Starting from 2012, Fincantieri received orders for 10 units from Viking Cruises, 4 of which already delivered, with the remaining ships to be delivered by 2023.

In early March 2018, Fincantieri and Viking reached an agreement for a further 6 ships, which expand the horizon of the partnership until 2027.

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