VARD Wins Record Single Ship Order from Solstad

Update 10 June 2014 – Vard Holdings Ltd confirmed today the contract for the design and construction of a large Offshore Subsea Construction Vessel (OSCV) has been made effective. The contract is the largest single vessel order in VARD’s history.

Earlier:

Solstad Offshore ASA (SOFF), one of Norway’s largest shipping companies, has announced this week a signed a Letter of Intent (LOI) with one of their clients to construct and operate a subsea construction vessel of massive proportions.

VARD designed and built, this ship will be 180 meters in length, have a beam of 33 meters and a deck area of more than 2500 m².  Equipment on board will include a 550-ton top tension vertical lay-system, enabling the installation of large diameter flexible pipes in ultra deepwater and in harsher environments as well as a 600 ton active heave compensated offshore crane and a 4000 ton under-deck carousel for storage of flexible pipes, cables and umbilicals.

Upon delivery in Q2 2016, she will be placed on charter with Solstad’s undisclosed client for a period of 8 years firm, in addition to 3 x 1 yearly options.

The financial details of the LOI were not disclosed.

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