Vard secures contracts for two PSV for Mermaid Marine Australia

Vard Holdings Limited is pleased to announce that it has secured new contracts for the design and construction of two Platform Supply Vessels (“PSV”) for Mermaid Marine Australia Limited.

The vessels will be delivered from Vard Vung Tau in Vietnam in 4Q 2015 and 1Q 2016 respectively.

The vessels are multifunctional PSVs of VARD 1 08 design with a total length of 81.7 meters, beam of 18 meters and a cargo deck area of 810 m2. The vessels of approximately 4000 dwt will be prepared for standby, rescue, firefighting and ROV operations. The vessels are designed with high focus on cargo capacity and excellent maneuvering capabilities combined with low fuel consumption.

CEO and Executive Director Roy Reite commented, “We are honoured to receive these contracts from Mermaid Marine, and proud to see a new client from the Asia Pacific region entrust this important project to our Vietnam shipyard. We look forward to working closely with Mermaid, and welcome their team to VARD.”

Mermaid Marine Australia Limited is Australia’s largest marine services provider to the offshore oil and gas industry. MMA has grown substantially since listing on the Australian Securities Exchange in 1999. With supply bases in Dampier and Broome and a range of modern offshore vessels, MMA offers its clients marine logistics services throughout all phases of the offshore oil and gas development cycle. MMA’s head office is in Fremantle, Western Australia, with key operations bases in Dampier and Broome and an international office in Singapore.