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Vard secures $132 million OSCV contract from Farstad

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Singapore-based shipbuilder Vard Holdings has bagged a contract worth about NOK800m ($131.6 million) from Norway-based Farstad Shipping for design and construction of an offshore subsea construction vessel (OSCV).

Featuring a length of 143 meters, beam of 25 meters and a deck area of above 1,800 square meters, the Vard 3 07 design OSCV will handle subsea, inspection, maintenance and repair operations.

Equipped with two offshore cranes, with the larger one having lifting capacity of 250 tons, the vessel can accommodate 130 persons and is arranged for three remote operating vehicles (ROVs).

The vessel is expected to be delivered from Vard Langsten in the third quarter of 2015, while the hull is set to be delivered from Vard Tulcea in Romania.

The new vessel is expected to be similar to another vessel that Vard has been building for Farstad Shipping, said the company.

With operations in Ålesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro, Farstad Shipping has a fleet of 59 vessels with six newbuildings being under development.

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