Vard Signs with Viking for Two Special Cruise Ships

By ,   April 4, 2018 ,   Cruise Industry

Vard Holdings Ltd., a subsidiary of Fincantieri, Italy, signed a Letter of Intent for the design and building of two special cruise ships for Viking Cruises, with an option for 2 more vessels.

The newbuild cruise vessels, scheduled for delivery in Norway (2Q 2021 and 2Q 2022) will be the first Vard Holdings will construct for Viking Cruises.

Viking Cruises

The contract value for the two newbuilds is expected to be approx Norwegian Krone 4.5 billion, equal to over EUR 460 million. The parties have common intention to enter into the final contract by mid-2018.

The project is totally innovative and will be developed by Vard Design in cooperation with the client, according to the highest safety and reduction of environmental impact standards, drivers that have increasingly greater weight in the cruise sector.

Starting 2012, Fincantieri has received from Viking orders for ten units, four of which already delivered, with the remaining vessels to be delivered by 2023. Last March, Fincantieri and Viking reached an agreement for further six ships, expanding the partnership until 2027.