Vard, one of the major global designers and shipbuilders of specialized vessels, has signed contract for the construction of a state-of-the-art cable laying vessel, was with the Swedish company NKT HV Cables AB. The value of the contract is between EUR 200 - 250m.

NKT HV Cables AB is a turn-key power cable manufacturer and installation company with its main office in Karlskrona, Sweden. They are part of the Danish company NKT A/S which is listed on Nasdaq Copenhagen. With offices and production sites in more than 16 countries and over 4 500 employees, NKT connects a greener world with high-quality power cable technology. NKT designs, manufactures, and installs high, medium, and low voltage power cable solutions enabling sustainable energy transmission.

WELCOMES NKT AS A CUSTOMER 
Roy Arne Stavik, SVP Sales and Marketing in Vard welcomes NKT as a customer to Vard:

– We thank NTK HV Cables AB for the opportunity to build this state-of-the-art cable laying vessel. In Vard we are committed to help customers reduce risk through our unique global value chain and long track record in delivering complex and customized vessels, such as this cable lay vessel for power cable. We have established us as the leading actor in the cable layer market and will deliver as planned.

The hull for the cable laying vessel will be built at Vard Tulcea in Romania and outfitted and delivered from one of Vard’s yards in Norway in Q4 2026. 

The design of the vessel is by the Norwegian company Salt Ship Design AS.

Vard

• Vard is one of the major global designers and shipbuilders of specialized vessels. Headquartered in Norway and with approximately 8,000 employees, Vard operates shipbuilding facilities in Norway, Romania, Brazil, and Vietnam.
• Through its specialized subsidiaries, Vard develops power and automation systems, deck handling equipment, and vessel accommodation solutions, and provides design and engineering services to the global maritime industry.
• Vard’s long shipbuilding traditions, cutting-edge innovation and technology coupled with its global operations and track record in constructing complex and highly customized vessels have earned it recognition from industry players and enabled it to build strong relationships with its customers.
• Fincantieri Oil & Gas S.p.A, a wholly owned subsidiary of FINCANTIERI S.p.A. Headquartered in Trieste, Italy, is majority shareholder of Vard with around 98 % of the shares. 
• FINCANTIERI is one of the world’s largest shipbuilding groups, and a global leader I n cruise ship design and reference player in all high-tech shipbuilding industry sectors. 
• With over 230 years of history and more than 7,000 ships built, the Group today has a production network of 18 shipyards operating in four continents and over 20,000 employees.