Fincantieri's Vard Holdings has announced its first order from Torstein Hagen's Viking Cruises.

A letter of intent has been signed for the design and construction of two "special" cruiseships, with an option for two more.

The vessels will be handed over in Norway in the second quarter of 2021 and the second quarter of 2022.

The expected value of the contract is NOK 4.5bn