Vard to Build OSV for Island Offshore

Maritime Activity Reports, Inc.

October 3, 2014

Global designer and shipbuilder of offshore and specialized vessels, Vard Holdings Limited, announced it has secured a new contract with Island Offshore for the construction of one offshore support vessel (OSV).

The deal, valued at nearly NOK 300 million, is Vard’s first contract win for the fourth quarter of 2014, and represents the 15th vessel to join the shipbuilder’s order book this year

The vessel is scheduled for delivery from Vard Brevik in Norway in 1Q 2016. The hull of the vessel will be delivered from Vard Braila in Romania.

In addition to this latest contract, the Island Offshore Group, which provides services to the offshore industry through a fleet of 27 vessels currently operating in Brazil, West Africa and in the North Sea, already has five vessels under construction presently at Vard.

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