DFO CONTRACTS VARD FOR ONE OFFSHORE SUBSEA CONSTRUCTION VESSEL

NORWAY/Ålesund 03.04.2025: VARD, one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that we have signed a contract with the Taiwanese based company Dong Fang Offshore for the design and construction of one Offshore Subsea Construction Vessel, with option(s). The vessel is of VARD 3 39 design. The value of the contract is EUR 113,5 mill.

DFO was established in 2019 to deliver high quality marine construction, operations and maintenance services for the offshore wind, energy and telecoms industries. The company aspires to be the supplier of choice to deliver international standard cable installation and repair solutions in the wind and telecoms industries, operations and maintenance solutions for offshore wind farms, and the delivery of turnkey marine construction solutions in Asia Pacific. DFO has emerged as a contractor with the largest fit for purpose fleet of modern vessels in APAC, with strong local competence and industry-leading operational delivery and quality.

Designed for the future

Dong Fang Offshore has appointed VARD to design and construct an Offshore Subsea Construction Vessel of VARD 3 39 design. This is the third vessel VARD is building for DFO, with the first two being Commissioning Service Operations Vessels, contracted in May 2024.

The vessel contracted is a highly versatile platform designed and equipped for subsea operation duties, offshore wind operations & maintenance activities, as well as cable installation and repair scopes in the offshore wind and telecoms sectors. With its highly optimized hull form together with a powerful propulsion configuration, the vessel will have particularly good sea-keeping capabilities, including reduced motions and accelerations and excellent station keeping performance. The design has focused on the environmental footprint with an efficient machinery and propulsion set-up for high station keeping capabilities including battery hybrid propulsion, delivering improved workability and operational reliability.

The vessel is fitted with a 250 MT active heave compensated offshore crane which enables the vessel to perform advanced subsea operations, a 1,200 m2 work deck prepared for a cable repair or cable lay spread, and ROV hangars prepared for built-in ROVs on both sides.

The large design flexibility allows the vessel to accommodate future operational demands. The vessel is prepared for the installation of a motion compensated gangway, an under-deck carousel, the installation of a large trencher and is in addition prepared for helideck installation.

The vessel has 90 cabins to accommodate 130 people on board. Operational centers such as offices, briefing rooms, conference room/cinema and dayrooms have been designed to meet a high standard in the market, and furnishings will be completed to a premium standard by Vard interiors.

We are pleased to return to VARD with a new order for an Offshore Subsea Construction Vessel to support our growing international client base. The order complements the two SOV's we have ordered against long-term contracts and opens the door for DFO to expand its service offering in the offshore wind, energy and telecoms markets. Furthermore, this new order together with the option(s) attached to this agreement ensures that DFO continues to build fleet scale and latitude to continue to deliver a one-stop solution to our customers. The choice of Norway as a build country for our first ever newbuild OSCV also ensures that we continue to deliver on our promise of on-time, high quality, reliable services to our valued customers, as well as delivering a safe and comfortable work environment for our crew and clients staying on board, says Polin Chen, CEO in DFO.

Deliveries from the VARD integrated value chain

Through our integrated value chain, we are delivering the design, building the hull, outfitting, integrating, and commissioning the ship for the customer.

Vard Electro is delivering a fully integrated power and automation system, emphasizing total system efficiency to ensure optimal environmental considerations. This system is monitored by the SeaQ Green Pilot, which collects all digital data from the vessel and makes it accessible through Vard Electro's cloud service to office desktops.

The vessel is also equipped with the market-leading SeaQ Bridge. This installation provides the vessel operator with comprehensive oversight and control of all onboard systems from a single location, enhancing both operational safety and efficiency. The SeaQ Bridge is a pivotal enabler for more digital ship operations, incorporating applications that minimize the need for manual panels.

Vard Interiors will provide HVAC-R, piping systems and modern interior solutions designed to create environments that are both functional and conducive to individual well-being and productivity aboard the vessel.

We are proud and honored that DFO has chosen to return as a customer to VARD. This contract is yet another token of VARDs ability and proven record to deliver vessels on time and budget. Together with our owner Fincantieri we are collaborating with customers worldwide to tailor-make vessels based on the customer's needs and requirements, and this vessel has been developed in a fruitful process together with the customer. We look forward to continuing our good collaboration with DFO in the years to come, says Cathrine Kristiseter Marti, CEO in VARD.

The hull of the vessel will be built at Vard Shipyards Romania - Braila, while the outfitting, commissioning and delivery will be from Vard Søviknes in Norway. Delivery is scheduled to be early Q2 2027.

Overall technical information:

• Length of 121.3 meters and a beam of 23 meters
• 250 tons MT active heave compensated Offshore Crane
• 1200 m2 work deck
• ROV hangars prepared for built-in ROVs on both sides
• 2 x deck/boat landing cranes
• Max speed 14 knots
• DP2 dynamic positioning system

For more information:

VARD

Anne-Bente Skjellum
VP Corporate Communications
Mobile: +47 91 55 96 66
anne-bente.skjellum@vard.com

DFO

Miller Wang
Commercial Manager
Phone: +886 4 2254 6965
commercial@dfo.com.tw

About DFO

DFO (Dong Fang Offshore) is a specialized company focused on offshore maritime engineering solutions, headquartered in Taiwan. We operate a wide range of engineering vessels, from small vessels (27 meters) to large cable-laying ships (130 meters) with a total of 17 ships operated or under construction. We are also dedicated to providing full lifecycle services for offshore wind farms-from initial exploration to construction and long-term operations and maintenance. Dong Fang Offshore has played a major role in many phases of offshore projects, especially in cable installation, where DFO is one of Taiwan's leading contractors. The company is listed on the Taiwanese Emerging Stock Board.

About 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 in 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.