Vard Secures Contract For One Advanced Offshore Support Vessel

Vard Holdings Limited (“VARD”) is pleased to announce that it has entered into a new contract with Island Offshore for the construction of one advanced offshore support vessel of Rolls-Royce design.

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The value of the contract amounts to approximately NOK 400 million.

Delivery is scheduled from Vard Brevik in Norway in Q3-2014. The hull of the vessel will be delivered from Vard Braila in Romania.