Vard wins contract to build three vessels

SINGAPORE (July 29): Offshore and specialised vessels builder Vard Holdings announced it has clinched a contract for the design and construction of three vessels, according to a press release issued earlier today. The identity of the client was not disclosed.

This contract is valued at US$70 ($94.5) million. The company says it will announce further details of the contract in due course.

The clinching of this contract comes as Vard announced new non-offshore orders of NOK6.2 billion in the 2Q ended June, despite posting a loss of NOK58 million in the same period.

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