Vard Inks Construction Contracts for Two Ships from Viking Cruises

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July 24, 2018

File Photo: The Viking Ocean Cruises cruise ships Viking Sky and Viking Sea. Photo: Viking Cruises

Shipbuilder Vard Holdings has announced it has confirmed contracts for the design and construction of two cruise for the river and ocean cruise company Viking.

The total contract value is approximately NOK 5 billion (US $611 million).

A Letter of Intent for the vessels was entered into back in April 2018 and the contracts for two vessels have now become effective, Vard said in an announcement.

In its announcement of the LOI in April, Vard said it will be developing a series of advanced cruise vessels, designed to be among the most environmentally friendly ships. Specific details of the vessels, however, have not yet been disclosed.

This has led some to believe that Viking could be constructing its first expedition cruise ships as Vard is considered a major builder of this type of vessel.

Delivery of the vessels are scheduled from VARD in Norway, in 2Q 2021 and 2Q 2022 respectively. The hulls will be built by VARD in Romania.

Mr. Roy Reite, CEO and Executive Director of VARD, commented in April: “It is our pleasure to work with Viking to develop a new series of cruise vessels. The company is well known for its expansion in River Cruises and Ocean Cruises, and they are now looking to Norway for the design and construction of its new cruise fleet. We are honoured to be chosen as their partner in this exciting project, and look forward to continuing the excellent cooperation with the Viking team.”


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