VARD to design and build two PSVs for Nordic American Offshore

Further to the announcement on 2 June 2014 entitled “VARD signs letter of intent with Nordic American Offshore,” Vard Holdings Limited is pleased to confirm that the contracts for the design and construction of two Platform Supply Vessels (“PSV”) have been made effective, the shipbuilder said in a press release.

The vessels are of VARD 1 08 design, developed by Vard Design in Ålesund, Norway. The hulls of the vessels will be built at Vard Braila in Romania. Delivery is scheduled from Vard Aukra in Norway in 2Q and 3Q 2015.

VARD 1 08 specifications: LOA : 81 m, breadth overall: 18 m, DWT: 4000 tonnes.

Vard Holdings Limited (“VARD”), together with its subsidiaries (the “Group”), is one of the major global designers and shipbuilders of offshore and specialized vessels used in the offshore oil and gas exploration and production and oil services industries. Headquartered in Norway and with approximately 9,500 employees, VARD operates ten strategically located shipbuilding facilities, including five in Norway, two in Romania, two in Brazil and one in Vietnam.