Non price-sensitive communications

Vard, the Norwegian subsidiary of the Fincantieri Group and one of the major global designers and shipbuilders of specialized vessels, has signed a new contract for the design and construction of one Commissioning Service Operation Vessel (CSOV) with Dong Fang Offshore (DFO), a leading provider of offshore support vessels in the Asia-Pacific region. The agreement is a declaration of an option in the contract signed with DFO in April this year for one Offshore Subsea Construction vessel (OSCV). This is the third CSOV Vard will build for DFO, with the first two contracted in May 2024.

The new vessel will be based on the VARD 4 39 design, specifically tailored for DFO, featuring a highly versatile platform for sustainable windfarm support operations, both during service and installation phases. Designed with flexibility to meet future operational demands, the CSOV emphasizes a low environmental footprint with efficient machinery and propulsion setups for high station-keeping capabilities, improved workability, and operational reliability, and has the capability to install a modular fiber optic and power cable repair spread.

The vessel, approximately 102.7 meters long and with a beam of 19.5 meters, will feature a fully electric crane, walk-to-work system, SeaQ Integrated Bridge, Power package and Automation System. The vessel will be equipped with a 1,240-kWh energy storage system for hybrid propulsion, shore connection capabilities, a heat recovery system, and innovative HVAC technologies to reduce environmental impact. It will accommodate 120 people in high-standard cabins.

The vessel will be built, outfitted and commissioned at Vard’s shipyard in Vung Tau, Vietnam, scheduled for delivery in Q1 2028.

Pierroberto Folgiero, CEO and Managing Director of Fincantieri, stated: “This agreement underscores our role as a global leader in shipbuilding, increasingly recognized as a key geopolitical lever. Our strategic presence in Vietnam highlights Fincantieri's competitiveness in the Asian market, where we see significant growth potential. The Vard Vung Tau shipyard exemplifies how operational excellence, meticulous planning, and a strong sense of purpose can turn traditional challenges into distinctive strengths, making it a key asset within our global production network.”