Vard bags S$58.5m pelagic trawler contract

SHIPBUILDER Vard Holdings on Thursday said it has secured a 350 million Norwegian krones (S$58.5 million) contract for the construction of one pelagic trawler for Shetland-based Research Fishing Company.

The 80-metre long trawler is designed by Skipsteknisk in Ålesund, Norway and will be built, equipped and completed in Norway.

Delivery is scheduled from Vard Langsten in Q3 2018, Vard said in a filing to the bourse operator, adding that the vessel will be equipped with entirely electrically powered winches to reduce oil spills and pollutions. It will also have the world's first electrically operated fish pump onboard.