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Vard signs LOI to build two environmentally-friendly Viking cruise vessels for $750 mil

Michelle Zhu Published on Wed, Apr 04, 2018 / 5:31 PM GMT+8

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SINGAPORE (Apr 4): Vard Holdings has signed a letter of intent (LoI) to design and construct two environmentally-friendly cruise vessels for Viking, a Swiss cruise line which currently operates a fleet of more than 60 vessels, for a potential contract value of NOK 4.5 billion ($750 million).

Both parties mutually intend to enter into a final contract by mid-2018.

The two vessels are to be developed by Vard Design in Norway while the hulls will be built by Vard in Romania.

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