Vard gets LOI for its largest ship yet

Vard 3 19 design Vard 3 19 design

MARCH 11, 2014 — Vard has received a Letter of Intent from Solstad Offshore for the design and construction of a large offshore subsea construction vessel (OSCV). If firmed up, the contract will be the largest single vessel order in Vard's history.

Solstad inked the LOI after itself receiving an LOI from an undisclosed major international offshore contracting company that plans to charter the vessel for a period of eight years firm, plus three one-year options.

The vessel is a Vard 3 19 design, developed by Vard Design in Ålesund, Norway. The hull of the vessel will be built at Vard's Tulcea shipyard in Romania, while outfitting will take place at Vard's Brattvaag shipyard in Norway. Delivery of the vessel from the shipbuilder is scheduled for second quarter 2016.

The vessel, which will be the largest in the Solstad fleet as well as the largest ever constructed by Vard, will have a 550 ton top tension vertical lay system, enabling the installation of large diameter flexible pipes in ultra-deep water and in harsher environments. In addition, it will feature a 600 ton active heave compensated offshore crane and a 4,000 ton under-deck carousel for storage of flexible pipes, cables and umbilicals.

The vessel will be about 180 meters long, have a beam of 33 meters and a deck area of more than 2,500 sq.m.