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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."