Vard lands new contract for three vessels

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that it has secured a contract for the design and construction of three vessels for an undisclosed client, Vard said in a press release.

The aggregate contract price is approximately USD 70 million. Details of the contract will be disclosed in due course.

Norway based 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. VARD employs about 11 people and operates ten shipbuilding facilities, including five in Norway, two in Romania, two in Brazil and one in Vietnam.