The Singapore-listed company saw narrower third-quarter loss than a year earlier
The company's bottom-line was a NOK 104m ($12.4m) loss compared to a year-earlier loss of NOK 845m.
Revenue for the quarter was down 34% to NOK 1.5bn. The decrease is due to reduced workload at the European yards and the close-down of Vard shipyard in Brazil, where it ceased all shipbuilding activities.
The Fincantieri-controlled shipbuilder won seven new contracts during the quarter, in addition to the confirmation of an order for four ice-class expedition cruise vessels for France's Ponant, which was previously announced
The new contracts include two luxury cruise vessels for Hapag-Lloyd Cruises. Vard also won an additional order for two module carrier vessels (MCVs) to an earlier project for Topaz Energy and Marine. And it scored a new win from the National Maritime Carrier of the Republic of Kazakhstan, Kazmortransflot, for a further three MCVs.
In Norway, shipyard activity remains relatively low, Vard said. Several large offshore subsea construction vessel orders have either been delivered, or are in their final stages of outfitting, and cruise vessel hulls will not arrive for outfitting in Norway before the second half of 2017.
