Vard continues aquaculture push with acquisition

Vard continues aquaculture push with acquisition

Vard Holdings has strengthened its push into the aquaculture market today, announcing an agreement to acquire Storvik Aqua, an equipment supplier that provides feeding, measurement and control solutions to the aquaculture industry, for NOK35m ($4.28m).

Storvik Aqua will continue to operate under its existing brand name but in close interaction with the Vard Aukra shipyard. Vard said Storvik Aqua’s products will enable Vard Aukra to deliver specialized vessels for fish farming with innovative integrated solutions.

“Through this acquisition, Vard confirms its position as a provider of innovative solutions for the aquaculture business. We are excited about the opportunities this generates for Vard and welcome the employees, new clients and business partners to Vard,” said Roy Reite, ceo of Vard Holdings.

Vard outlines its diversification strategy earlier this year in February, aimed at reducing its dependency on the offshore business during the industry downturn.

Dutch shipbuilder Damen is also chasing business in this sector, outlining plans to convert idled platform support vessels into specialised vessels for aquaculture. John Fredriksen’s Deep Sea Supply and Marine Harvest have also entered into an agreement to establish a 50/50 owned aquaculture shipping joint venture that is to build, own and operate aquaculture vessels.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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