Vard secures contract for three vessels

Vard secures contract for three vessels

Vard Holdings has announced it has secured a $70m contract for the design and construction of three vessels for an unnamed client.

Further details of the contract were not disclosed for this latest deal which adds to only a handful of vessel orders the Norwegian shipbuilder has received this year.

Vard is currently facing a dire outlook as the offshore support sector continues to struggle, and earlier this month laid off the entire workforce at Vard Brevik yard in Norway while also shutting down operations at the Vard Niteroi yard in Brazil.

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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1 Comment

  1. Avatar
    Edward Sieow
    July 29, 2016 at 9:20 am

    Vard Holdings has secured 19 vessels contracts in Q2 and 3 more just announced. This is not just “only a handful” as reported and also the company is reducing exposure to the O&G sector by entering into other markets including cruise ship, fishery, treatment barges etc.
    With due respect, please check the above before suggesting a dire outlook going forward for the company.