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Vard Holdings bags US$70m contract

VARD Aukra.jpg
Norwegian shipbuilder Vard Holdings has won a contract for the design and construction of three module carrier vessels for Kazakhstan shipping firm Kazmortransflot.

NORWEGIAN shipbuilder Vard Holdings has won a contract for the design and construction of three module carrier vessels for Kazakhstan shipping firm Kazmortransflot.

The contract is valued at US$70 million and will be operated by Kazmortransflot through a consortium led by Blue Water Shipping, Vard said in a Singapore Exchange filing on Thursday.

Designed for transport in the Caspian Sea, the three vessels will be built at Vard Braila in Romania.

Delivery is scheduled for between Q3 2017 and Q1 2018.

"We are pleased to welcome Kazmortransflot as a new customer to Vard, and look forward to the cooperation in this exciting project," said Vard chief executive Roy Reite in a statement.

"Our shipyard in Braila has unique experience in building vessels for Kazakhstan and the Caspian Sea, and this new contract further underlines our long-term commitment to the region."