Singapore-listed offshore vessel designer and builder Vard Holdings has secured a contract for the design and construction of a diving support and construction vessel (DSCV) for oil and gas service provider Kreuz Subsea group.
The DSCV will be of VARD 3 17 design, which has been developed especially for diving support and subsea construction duties. The hull construction of the vessel will be carried out at Vard Tulcea in Romania, delivery is scheduled from Vard Søviknes in Norway in the second quarter of 2017.
In addition, the vessel is built according to the special purpose ship (SPS) regulation with accommodation up to 105 people. The dynamic positioning 2 (DP2) class vessel also comes with a 100-tonne active heave compensated offshore crane and is prepared for remote operating vehicles (ROVs).
Roy Reite, executive director and CEO of Vard, welcomed the new contract with the Singapore-based Kreuz Subsea group and believed that it demonstrates flexibility and applicability of Vard’s technology and design to expand into new markets.
Previously, Vard did not secure any new vessel contract in the first quarter in 2015, with two contracts terminated during the quarter due to the weak demand and the depressed industry down cycle. As at 31 March 2015, Vard had 32 vessels in its orderbook, 18 of which belong to the company’s own design.