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 la…