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    Vard signs LOI with NAO for two PSVS

    Yard News // June 2, 2014

    Vard Holdings Limited has entered into a Letter of Intent (LOI) with Nordic American Offshore Ltd for the design and construction of two PSVs and an option for a third vessel.

    The vessels are of VARD 1 08 design, developed by Vard Design in Ålesund, Norway. The hulls of the vessels will be built at Vard Braila in Romania. Delivery is scheduled from Vard Aukra in Norway in second and third quarters of 2015.

    The LOI is valid until the end of the second quarter of 2014, with the option for the third vessel expiring at the end of July 2014.



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