Vard Holdings had inked a contract from Kazakhstan’s national shipowner, Kazmortransflot.

Singapore-listed Vard says the deal is for three module carrier vessels worth a combined $70m.

Vard’s Romanian shipyard Vard Braila will build the vessels for delivery between the third quarter next year and the first quarter of 2018.

Roy Reite, chief executive of Vard, said confirmation of the contract represented the first business between the two companies.

“Our