STX OSV Becomes VARD

Press Release
Tuesday, March 05, 2013
Image credit VARD

Shipbuilders & designers STX OSV adopt new brand name following sale of STX Europe’s majority stake in the company to Fincantieri Oil & Gas.

Chief Executive Officer and Executive Director of VARD, Roy Reite, said, “I am excited to announce that VARD will be our new name. It conveys a sense of stability and strength, relevance and flexibility. More importantly, it reflects our long-standing Norwegian heritage, as well as our leading position within the offshore and specialized vessels industry globally. From the very start of the project, the objective was to find a name that is short, solid, innovative and maritime in its tone. VARD met all of these criteria.”

The new company name is currently being implemented across all the subsidiaries of the VARD Group of companies worldwide. A proposal for a new name for the Group holding company, STX OSV Holdings Limited, will formally be tabled for resolution at the upcoming Annual General Meeting in April.

About VARD STX OSV Holdings Ltd.
Together with its subsidiaries, VARD is one of the major global designers and shipbuilders of offshore and specialized vessels used in the offshore oil and gas exploration and production and oil services industries. Headquartered in Norway and with approximately 9,000 employees, VARD operates nine strategically located shipbuilding facilities, including five in Norway, two in Romania, one in Brazil and one in Vietnam.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Offshore

Coast Guard tactical air squadron holds change of command ceremony

Capt. Kevin P. Gavin relieved Capt. Donna L. Cottrell as commanding officer of Coast Guard Helicopter Interdiction Tactical Squadron Jacksonville during a change of command ceremony at HITRON Friday.

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2046 sec (5 req/sec)