Vard bags S$8m Norwegian vessel maintenance contract
SINGAPORE-LISTED Vard Holdings has secured a vessel maintenance contract worth about 48 million Norwegian kroner (S$8 million) from the Norwegian Defence Logistics Organisation (NDLO).
The yard group said it has secured a framework agreement with NDLO for the maintenance of five coast guard vessels over a period of four years with options for three more years.
The framework agreement is assigned to Vard Langsten in Norway, which had delivered newbuildings and conversions to NDLO between 1993 and 2015.
Vard's chief executive and executive director Roy Reite said: "We appreciate our long-term relationship with the Norwegian Defence Logistics Organisation, and are honoured to have been awarded this framework contract."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Asia markets mixed after Fed leaves rates unchanged; STI rises 0.1%
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet