Vard Holdings Limited announced a new orde[ds_preview]r for an expedition cruise vessel. It has signed a Letter of Intent with an undisclosed international cruise company.
Developed in close cooperation with the customer, the luxury vessel will be about 145 m long and 20 m wide, with accommodation for 220 passengers. The hull of the vessel will be built by VARD’s shipyard in Tulcea, Romania.
Delivery is scheduled from one of VARD’s Norwegian yards in 2019. The contract price is expected to be approximately 1 bill. NOK (117 mill. $). The parties have a common intention to enter into a firm contract within 1Q 2017, subject to several conditions being met, including satisfactory financing.
The LOI announced Monday follows an order signed in May 2016 for the design and construction of two expedition cruise ships for a undisclosed client and another order to build four expedition cruise ships for French cruise company Ponant, as the company looks beyond the offshore oil and gas market to stay afloat.
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. Majority shareholder Fincantieri Oil & Gas S.p.A., a wholly owned subsidiary of Fincantieri S.p.A., owns 55.63% in the Group, but aims at acquiring all outstanding shares.
