Vard signs LOI to build largest vessel in Solstad's fleet
SGX mainboard-listed Vard Holdings has secured its largest single-vessel order, a job entailing the design and building of a large offshore subsea construction vessel (OSCV) for one of the largest shipping companies in Norway.
The Norwegian-based offshore shipbuilder - formerly known as STX OSV Holdings Limited - announced yesterday that it has signed a letter of intent (LOI) with Solstad Offshore to build what will be the largest vessel in Solstad's fleet. Vard did not give the value of the order.
At about 180m long, with a beam of 33m and a deck area covering more than 2,500 sq m, the vessel will also be the biggest Vard has ever built.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IndoAgri appoints former EDB chairman Philip Yeo as chairman and lead ID
US, Philippines eye agreement to cut China nickel dominance
GSK profit drops in first quarter on higher costs
London watchdog’s name-and-shame plan is mad, bad and dangerous to the City
Foxconn’s musical chairs sound like punk rock
AI fuels cloud computing boom for tech giants