Fincantieri’s Vard Lands €200 Million Contract for Five Advanced Walk-to-Work Vessels

Fincantieri’s Vard Lands €200 Million Contract for Five Advanced Walk-to-Work Vessels

(IN BRIEF) Fincantieri’s Norwegian subsidiary, Vard, has signed a €200 million contract to design and construct five Walk-to-Work vessels for an international client. The vessels, designed to support offshore oil and gas platforms, will feature hybrid propulsion systems, advanced motion-compensated systems, and accommodation for 190 people. The first four units are expected to be delivered in 2027, with the final vessel in early 2028. This deal strengthens Fincantieri’s leadership in the specialized vessel market and aligns with its commitment to sustainability and operational efficiency.

(PRESS RELEASE) TRIESTE, 21-Nov-2024 — /EuropaWire/ — Vard, the Norwegian subsidiary of the Fincantieri Group and a global leader in specialized vessel design and construction, has announced a significant new contract for the design and construction of five Walk-to-Work vessels for an international client. The contract, valued at over €200 million, is considered a crucial addition to Vard’s expanding portfolio in the offshore sector.

The vessels are set to provide vital supply, maintenance, and operational services to offshore oil and gas platforms. Designed using Vard’s 3 32 design, developed in close collaboration with the customer, these units will be built upon Vard’s proven, world-leading designs for Service Operation Vessels (SOV). The design prioritizes low fuel consumption, excellent operability, and high comfort for the crew and technicians on board.

Key Features and Delivery Timeline

The five Walk-to-Work vessels will be constructed at Vard’s Vung Tau shipyard in Vietnam, with outfitting, commissioning, and final delivery all taking place at this site. The first four units are slated for delivery in the second half of 2027, with the final vessel expected in the first quarter of 2028.

Each vessel will be approximately 88 meters long with a beam of 19.8 meters and will feature a hybrid propulsion system combining diesel/electric and battery power. The vessels will also be equipped with 3D motion-compensated gangways and cranes, enhancing their capability to support offshore operations under challenging conditions. Additionally, the Walk-to-Work vessels will provide accommodation for 190 people, ensuring comfort and high-quality working conditions.

Enhanced Versatility and Sustainability

Designed for offshore operations, the vessels are built to optimize onboard logistics, comfort, storage capacities, and overall operability. The advanced hybrid propulsion system ensures that the vessels are not only highly efficient but also future-proof, capable of adapting to renewable energy sources.

Pierroberto Folgiero, CEO and Managing Director of Fincantieri, commented:
“We are proud to further strengthen our position as a leader in the specialized vessel sector. This agreement marks another step toward achieving our sustainable growth goals. With an emphasis on crew safety and operational efficiency, these vessels will integrate the latest technologies to ensure reduced fuel consumption and optimal performance. It aligns with our commitment to sustainability as our order book continues to grow.”

This contract marks a significant milestone for Fincantieri and Vard, further establishing their leadership in the offshore vessel industry while reinforcing their dedication to delivering advanced, sustainable solutions.

Media Contacts:

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Tel. +39 040 3192111
press.office@fincantieri.it

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investor.relations@fincantieri.it

SOURCE: FINCANTIERI S.p.A