Vard Holdings terminates shipbuilding contract with REM Offshore

SINGAPORE (June 28): Vard Holdings says it has agreed to terminate a shipbuilding contract with Norwegian shipping company REM Offshore ASA in return for a compensation.

It was previously reported that Vard had won the contract, valued at about $168 million, from REM Offshore in June 2014.

(See: Vard Holdings wins $168 mil contract to build vessel for REM Offshore)

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