Vard wins S$53.3m contract from Norway's largest trawler company

SINGAPORE - Shipbuilder Vard Holdings Limited has secured a new contract worth about 325 million Norwegian Krones (S$53.3 million) for the design and construction of a stern trawler for Havfisk ASA.

The new vessel will have two separate cargo holds for refrigerated and frozen fish, a fish factory and a freezing capacity of 80 tonnes per 24 hours.

Delivery of the vessel is scheduled in the first quarter of 2018.

Vard has previously developed three fishing vessels for Havfisk, which is Norway's largest trawler company with a fleet of 10 vessels.

Havfisk's operations are primarily based on cod, haddock, shrimps and saithe fishing. It is able to provide fresh and frozen fish throughout the year.

Havfisk is headquartered in Norway and is listed on the Norwegian stock exchange.