Vard Clinches USD 300 Mn Module Carrier Vessels Order

Norwegian shipbuilder and ship designer Vard Holdings Limited (VARD) has secured a USD 300 million contract for the design and construction of 15 Module Carrier Vessels for Dubai-based offshore support vessel company Topaz Energy and Marine (Topaz).

Designed to carry high deck loads of up to 1800 tons, the vessels are developed to navigate the shallow river systems as they transport modules through the Russian waterways to oilfields in Kazakhstan.

Featuring a length of 123 meters and a width of 16.5 meters, the vessels, of VARD 9 21 design, will be operated by Topaz through a consortium led by Blue Water Shipping for the end-client Tengizchevroil.

Five of the vessels will be built at Vard Braila and four at Vard Tulcea in Romania, while the remaining six will be built at Vard Vung Tau in Vietnam.

Delivery is scheduled between the third quarter of 2017 and the second quarter of 2018.

“This project strengthens our relationship with Topaz and our foothold in the region. It also provides significant employment for our Romanian and Vietnam yards for the next two years, at a time when investment in new vessels for the oil and gas sector is limited elsewhere,” VARD CEO and Executive Director, Roy Reite, said.

Topaz Energy and Marine, which operates a fleet of 100 offshore support vessels of an average age of 7 years, is primarily focused on the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico.

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