Vard clinches contract to build stern trawler for 400m kroner

SHIPBUILDER Vard Holdings has clinched a contract for the design and construction of a stern fishing trawler for Nergård Havfiske AS in Norway, for about 400 million Norwegian kroner (S$66.5 million).

The vessel will adopt the new Vard 8 02 design, which has an integrated energy storage system consisting of diesel mechanical and diesel electric propulsion, and batteries.

Delivery is scheduled for the first quarter of 2020, with the hull built at Vard's yard in Romania.

The deal is not expected to have any material impact on the group's earnings per share, or its net tangible assets per share for the current financial year, Vard said. It added that none of the firm's directors or controlling shareholders have any interest in this contract.

The counter closed at S$0.255 apiece on Wednesday, up 2 per cent, or 0.5 Singapore cent.

Nergård Havfiske AS is Norway's second largest trawler company, with a fleet of five vessels, focused primarily on cod, haddock and saithe fishing.