Vard's Q2 loss widens; LOI to build cruise vessel expires

Singapore

VARD Holdings' posting of bigger second-quarter net loss on Tuesday was accompanied by a separate announcement that a letter of intent (LOI) to design and construct an expedition cruise vessel for an undisclosed customer has expired.

The three months ended June 30, 2017, registered a 30 per cent year-on-year surge in net loss to 69 million Norwegian kroner (S$11.8 million) for the mainboard-listed shipbuilder.