Vard solves a mystery

Vard 928 module carriers Vard 928 module carriers

AUGUST 18, 2016 — Back on July 29, Fincantieri's 55.3% owned subsidiary Vard Holdings Limited disclosed that it had secured a $70 million contract worth a total $70 million for the design and construction of three vessels of undisclosed type and size for an undisclosed owner.

Turns out the mystery ships are three more of the module carriers that Vard is building for the Caspian Sea (see earlier story).

The mystery buyer is Kazmortransflot ("KMTF"), the National Maritime Carrier of the Republic of Kazakhstan, which will operate the module carriers in a consortium led by Blue Water Shipping.

The vessels, of Vard 9 28 design, will measure 113 m by 22 m and will be built at Vard's Braila shipyard in Romania. Delivery is scheduled between third quarter 2017 and first quarter 2018.

Vard CEO and Executive Director Mr. Roy Reite commented, "We are pleased to welcome Kazmortransflot as a new customer to VARD, and look forward to the cooperation in this exciting project. Our shipyard in Braila has unique experience in building vessels for Kazakhstan and the Caspian Sea, and this new contract further underlines our long-term commitment to the region."

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