VARD delivers first vessel from new shipyard in Brazil

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that the first vessel was delivered from the Group’s newest shipyard, Vard Promar in Brazil, on 8 January 2016.

The vessel, a 7,000 m3 fully pressurized Liquefied Petroleum Gas (LPG) carrier, is the second in a series to be delivered to Petrobras Transporte S.A. (Transpetro), and the first to be built entirely at and delivered from Vard Promar. The delivery marks an important milestone in the development of the new shipyard, and for VARD’s operations in Brazil.

As at 31 December 2015, VARD had 29 vessels in its order book, eight of which for delivery from the Group’s two shipyards in Brazil.

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 11,000 employees, VARD operates ten strategically located shipbuilding facilities, including five in Norway, two in Romania, two in Brazil and one in Vietnam. Through its specialized subsidiaries, VARD develops power and automation systems, deck handling equipment, and vessel accommodation solutions, and provides design and engineering services to the global maritime industry.