MAY 13, 2016 — Fincantieri subsidiary Vard Holdings Limited has signed a Letter of Intent with an undisclosed international cruise company for the design and construction of two small-sized expedition cruise vessels.
MAY 11, 2014 – Vard Holdings Limited, which is 55.63% owned by Fincantieri has won a $300 million order to design and construct 15 module carrier vessels for Dubai headquartered Topaz Energy
MAY 11, 2014 – Vard Holdings Limited, which is 55.63% owned by Fincantieri has won a $300 million order to design and construct 15 module carrier vessels for Dubai headquartered Topaz Energy
MARCH 15, 2015 — Norwegian headquartered Vard Holdings Limited has signed a Letter of Intent for the construction of four luxury expedition cruise vessels for French cruise company Ponant, a subsidiary of
FEBRUARY 22, 2016—Vard Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, has secured a new contract valued at NOK 325 million (about $37.7 million) for
FEBRUARY 22, 2016 —Norway’s largest trawler company, Havfisk ASA, has placed a NOK 325 million (about $38 million) order with Vard Holdings Limited for the design and construction of an 80 m
FEBRUARY 2, 2016 – Vard Marine has secured a contract worth EUR 4 million for the design of an Antarctic icebreaking vessel for the Chilean Navy. Based in the U.S. and Canada,
JANUARY 19, 2016 — Eastern Shipbuilding Group, Inc., Panama City, FL, recently launched the M/V Harvey Stone (Hull 234) for Harvey Gulf International Marine, LLC of New Orleans, LA, in a ceremony
JANUARY 11, 2016 — Singapore listed shipbuilder Vard Holdings Limited, which is a 55.63% owned subsidiary of Fincantieri, reports that the first vessel was delivered January 8 from its newest shipyard, Vard
It reported today that it has been notified that Petrobras Transportes S.A. (Transpetro) has terminated the contracts for two liquefied petroleum gas (LPG) carriers on order at 50.5% owned indirect subsidiary Vard Promar.
The vessels in question are the last two of a series of eight LPG carriers originally contracted at the Brazilian shipyard in June 2010, for delivery from Vard Promar between 2014 and 2016. The combined contract value for the series of eight vessels was $536 million.
The first of the eight vessels, the 8,000 cu.m Oscar Niemayer, was delivered this past July.
Singapore listed Vard, which is 55.63% controlled by Fincantieri, says that the construction of the two vessels that have now been canceled is “at a very early stage.”
Vard is currently reviewing its overall exposure to the Brazilian market, and it says that the termination of the contracts – if effective – is “expected to reduce the company’s overall exposure. At the same time, the company intends to claim compensation from Transpetro for damages in relation to the terminated contracts.”
Vard says the impact of the termination is not expected to have a material effect on the earnings per share of the Group for the financial year ending December 31, 2015.
