Vard Holdings

Vard Holdings was awarded contracts, whose total value is close to USD 101 million, for the construction of two offshore support vessels, scheduled for delivery third-quarter and fourth-quarter 2015. Separately, Vard signed a letter of intent with Solstad Offshore for the design and construction of a large offshore subsea construction vessel. The vessel—scheduled for delivery in second-quarter 2016—will be the largest in the Solstad fleet, with a 550-ton top tension vertical lay system, enabling the installation of large-diameter flexible pipes in ultradeep water and in harsher environments. It will also feature a 600-ton active-heave-compensated offshore crane and a 4,000-ton under-deck carousel for storing flexible pipes, cables, and umbilicals.


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