Other price-sensitive press releases

Vard, Norwegian subsidiary of the Fincantieri Group and among the leading companies in the construction of specialized vessels, and Island Offshore, a Norwegian shipping group operating in the Oil and Gas and Renewable market, have signed a contract for the design and construction of one state-of-the-art hybrid-powered Ocean Energy Construction Vessel (OECV). The parties have also agreed on an option for two more vessels.

The design of the ship, to be delivered in Q1 2027, allows for flexible configuration depending on the specific operations the vessels will perform. It will undertake subsea operations including inspection, maintenance and repair, pipe laying, subsea infrastructure construction and installation, diving support and equipment for remotely operated underwater inspection.

This 120-meters long vessel will have a beam of 25 meters, an offshore subsea crane of 250 tons, and it will accommodate 130 persons on board. It will be prepared for alternative low-emission fuel.

Vard has already delivered 41 vessels to Island Offshore.

Pierroberto Folgiero, CEO and Managing Director of Fincantieri, said: “This order further confirms the Group’s and Vard's leadership in the offshore and specialized vessels segment, which continues to record a solid performance after its acceleration in the past months. This type of unit can perform a wide range of subsea operations, thus strengthening our Group's role in the underwater domain with state-of-the-art technologies, as envisaged in our Business Plan”.