Further to the announcement on 2 June 2014 entitled “VARD signs letter of intent with Nordic American Offshore,” Vard Holdings Limited is pleased to confirm that the contracts for the design and construction of two Platform Supply Vessels (“PSV”) have been made effective.
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The vessels are of VARD 1 08 design, developed by Vard Design in Ålesund, Norway. The hulls of the vessels will be built at Vard Braila in Romania. Delivery is scheduled from Vard Aukra in Norway in 2Q and 3Q 2015.