Vard seals NAO trio

Fincantieri-owned shipbuilder Vard Holdings has emerged as the yard behind a new order from Nordic American Offshore (NAO).

The Nordic American Tanker (NAT) spin-off said on Monday it could use some of its $122m New York IPO cash for three more platform supply ships (PSVs), but did not give further details.

Now Norway-based Vard has revealed a letter of intent for two firm vessels, and an option for a third.

The VARD 1 08 ships will be built in Romania and outfitted at the Aukra yard in Norway. Delivery is set for the second and third quarters of 2015.

The deal must be finalised by the end of June, with the option valid until the end of July.