Singapore-listed Vard Holdings secures record $1.38bn order to build four vessels
Shipbuilder Vard Holdings, which is listed on the Singapore Exchange mainboard, said Monday it had secured the largest order in its history to design and construct four pipe lay support vessels.
The contracts are worth a total of about US$1.1 billion (S$1.38 billion) and were awarded by joint ventures of subsea service group DOF Subsea and project management, engineering and construction firm Technip, the company said.
Two of the vessels will be delivered in the second and third quarters of 2016 respectively. The hulls of these vessels will be built at Vard Tulcea in Romania and outfitted at Vard Søviknes in Norway.
The other two vessels will be delivered from Vard Promar in Brazil, in the fourth quarter of 2016 and second quarter of 2017 respectively.