Vard clinches first contract for 3Q14

This is Vard's 14th vessel this year. 

Vard Holdings has revealed its first victory for 3Q14. The shipping firm has secured a contract for one platform supply vessel for German company E.R Offshore.

The deal is also Vard’s 14th vessel to join its orderbook this year. According to OSK DMG, this vessel is a multifunctional PSV, measuring 81m in length with a cargo deck area of 83 square meters.

The vessel is scheduled for delivery from Vard Vung Tau in Vietnam in 2Q16, amd is able to perform firefighting and oil recovery operations.

“Against the backdrop of oil majors reducing capital expenditure especially in deepwater activities, we prefer to stay cautious on companies with heavy exposure to deepwater assets,” noted OSK DMG.