Aker BioMarine orders NOK 1 billion krill vessel at Vard

Krill seeker: VARD 8 10 is designed for Antarctic operations Krill seeker: VARD 8 10 is designed for Antarctic operations Vard

FEBRUARY 14, 2017 — Lysaker, Norway, headquartered Aker BioMarine has awarded Vard a contract to design and construct a state-of-the-art krill fishing vessel that will operate in the Antarctic.

Including owner furnished supplies, the total value of the order is NOK 1 billion (about $119.5 million)

"This is the largest single contract Vard has ever received for a fishing vessel, and we are very happy to have entered a shipbuilding contract with them. This will also contribute to securing Norwegian jobs in the future," says Webjørn Eikrem, EVP Production and Supply Chain at Aker BioMarine.

The Vard 8 10 design vessel is specially developed for sustainable fishing operations in Antarctica. It will measure 130 m in length, have a beam of 23 m, and will be equipped with state-of-the-art technology for environmentally friendly operations.

Webjørn Eikrem, EVP Production and Supply Chain in Aker BioMarine says: "The new krill vessel will be equipped with the latest and most advanced technology. All plans and specifications are developed in cooperation with fishermen from Aker BioMarine and engineers from Vard. The vessel's operations will be energy efficient, with a bio-refinery capable of processing raw krill material in the Antarctic."

Delivery is scheduled from Vard in Norway in fourth quarter 2018. The hull of the vessel will be built by Vard's Tulcea, Romania, shipyard.

The contract is still subject to certain conditions, including customary financing conditions.

Aker BioMarine is seeking finance through the Norwegian Export Credit Guarantee Agency (GIEK). "We have a good financing plan and look forward to beginning the application process with GIEK immediately," says Matts Johansen, CEO at Aker BioMarine.

Vard CEO and Executive Director Mr. Roy Reite commented, "This is a very exciting fisheries project that we are really looking forward to work with. We have developed a range of innovative vessels together with our good relations in Aker since the 1980s, and also this project is built on good cooperation and complementary expertise within fishery, ship design and technology."

Aker BioMarine is a biotech- and fishing company that develops krill-based ingredients for use in nutraceuticals, aquaculture and animal feed. The company supplies biomarine ingredients through a 100% traceable supply chain that it also owns and controls. Aker BioMarine was the first krill company to be awarded Marine Stewardship Council (MSC) certification.

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