Singapore-listed offshore and specialised shipbuilder Vard Holdings Limited (VARD) has secured a contract for the design and construction of one Offshore Subsea Construction Vessel (OSCV) for Farstad Shipping (Farstad).

Key highlights:

• The vessel will be of VARD 3 17 design, with a total length of 98 metres and a beam of 21.5 metres, and features a 150 tone active heave compensated offshore crane

• Vessel is scheduled for delivery from Vard Vung Tau in Vietnam, in 4Q 2016

• It has been developed especially for subsea and IMR operations, and is the first OSCV to be built at Vard Vung Tau

• This is VARD’s second contract win for the fourth quarter of 2014, and represents the 16th vessel to join VARD’s order book this year.

VARD CEO and Executive Director Roy Reite says, “We appreciate the long-term relationship we have with Farstad, and this cooperation has once again resulted in a new and innovative project.”

Tags: Vard Holdings Limited (VARD)