VARD signs Letter Of Intent with Viking
Wednesday, Apr 04, 2018
Vard Holdings Limited has signed a Letter of Intent for the design and construction of two special cruise vessels for Viking, with an option for two more vessels. The ships, with deliveries scheduled in Norway in 2Q 2021 and 2Q 2022 respectively, will be the first that Vard will build for this ship owner.

The potential contract value for two vessels is expected to be approximately Norwegian Krone 4.5 billion, equal to more than US$565.36 million. The parties have a common intention to enter into final contract by mid-2018.

The project, totally innovative, will be developed by Vard Design in close cooperation with the customer, according to the highest safety and reduction of the environmental impact standards, drivers which have increasingly greater weight also in the cruise sector.

Starting from 2012, Fincantieri has received from the same company orders for 10 units, 4 of which already delivered, with the remaining ships to be delivered by 2023. More recently, last March, Fincantieri and Viking have reached an agreement for further 6 ships, which expand the horizon of the partnership until 2027.

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