Vard wins Mokster deal

Vard Holdings has signed a pre-contract with Simon Mokster Shipping for a platform supply vessel (PSV) newbuilding.

The Singapore-listed Norwegian offshore shipbuilder, which completed its rechristening from STX OSV today, expects to formalise the deal in the next few weeks.

Vard will build the hull of the new PSV 06 LNG design at a yard in Romania before adding the finishing touches in Norway ahead of delivery in the first quarter of 2015.

Neither company placed a price tag on the newbuilding.

The 3,650-dwt vessel will be 94 meters long and 20 meters wide and is designed to operate in the Goliat oil and gas field in the Barents Sea.

It will be equipped with a dual-fuel LNG/diesel-electric propulsion system with a focus on low fuel consumption and greenhouse gas emissions.

Simon Mokster has backed the order with a 10-year charter contract with oil major Eni Norge for the operation of the vessel.

Vard announced the contract today at a briefing following its annual general meeting in Singapore.

Senior vice president Holger Dilling said the company has no immediate plans to seek a second listing in Europe, Bloomberg reported.

Italian shipbuilder Fincantieri is now the major shareholder in Vard after taking a 55.6% stake in the company this year.