Vard Delivers First Vessel From New Shipyard in Brazil
Vard Holdings Limited ("VARD"), one of the major global designers and shipbuilders of offshore specialized vessels, announced that the first vessel was delivered from the Group's newest shipyard, Vard Promar in Brazil, on 8 January 2016.
The vessel, a 7,000 m3 fully pressurized Liquefied Petroleum Gas (LPG) carrier, Barbosa Lima Sobrinho, is the second in a series to be delivered to Petrobras Transporte S.A. (Transpetro), and the first to be built entirely at and delivered from Vard Promar.
The delivery marks an important milestone in the development of the new shipyard, and for VARD's operations in Brazil. As at 31 December 2015, VARD had 29 vessels in its order book, eight of which were for delivery from the Group's two shipyards in Brazil.
Vard Holdings Limited ("VARD"), together with its subsidiaries (the "Group"), is one of the major global designers and shipbuilders of offshore and specialized vessels used in offshore oil and gas exploration, production, and oil services industries.
Headquartered in Norway and with 11,000 employees, VARD operates ten strategically located shipbuilding facilities, including five in Norway, two in Romania, two in Brazil, and one in Vietnam.
Through its specialized subsidiaries, VARD develops power and automation systems, deck handling equipment, and vessel accommodation solutions, and provides design and engineering services to the global maritime industry.
VARD’s long shipbuilding traditions, cutting-edge innovation, and technology, coupled with its global operations, ensure access to the fastest-growing oil exploration markets. The Group’s expertise and track record in constructing complex and highly customized offshore and specialized vessels have earned it recognition from industry players and enabled it to build strong relationships with its customers.
VARD was listed on the Main Board of the Singapore Exchange on 12 November 2010. The majority shareholder, Fincantieri Oil & Gas S.p.A., a wholly owned subsidiary of FINCANTIERI S.p.A., owns 55.63% in the Group. Headquartered in Trieste, Italy, FINCANTIERI is one of the world’s largest shipbuilding groups and has, over its 200 years of maritime history, built more than 7,000 vessels.
Vard Holdings delivers its first vessel from the Vard Promar shipyard in Brazil, marking a key milestone in offshore vessel production.
