VARD secures a framework agreement for the maintenance of five Norwegian CG vessels

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of specialized vessels, has secured a framework agreement for the maintenance of five Coast Guard vessels for the Norwegian Defence Logistics Organisation. The total contract value is approximately NOK 48 million over a period of four years, the Company said in a press release.  

The framework agreement includes ship maintenance and corrective maintenance of the Norwegian Coast Guard’s Nornen series of five vessels. The agreement stretches over a period of four years with options for three more years. The framework agreement is assigned to Vard Langsten in Norway.

CEO and Executive Director Mr. Roy Reite commented, “We appreciate our long term relationship with the Norwegian Defence Logistics Organisation, and are honoured to have been awarded this framework contract. Our shipyards build a broad range of specialized vessels, and have a high competence within conversions, repairs and maintenance.”  

The Norwegian Defence Logistics Organisation (NDLO) delivers logistics according to military needs. This includes procurement, investment, support, supply and maintenance of all weapon systems and military materiel in times of peace, crises and war.

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.