Business & Industry
May 1, 2015
VARD is one of the major global designers and shipbuilders of offshore and specialized vessels used in the offshore oil and gas exploration and production and oil services industries. Headquartered in Norway and with 10,000 employees, VARD operates ten strategically located shipbuilding facilities, including five in Norway, two in Romania, two in Brazil and one in Vietnam.
The company's long shipbuilding traditions, cutting-edge innovation and technology coupled with its global operations ensure access to the fastest growing oil exploration markets. The group's expertise and track record in constructing complex and highly customized offshore and specialized vessels have earned it recognition from industry players and enabled it to build strong relationships with its customers.
A part of the Fincanteri group of companies, VARD is a major global shipbuilder, constructing offshore and specialized vessels used in the offshore oil and gas exploration & production and oil services industries.
In addition to constructing highly advanced OSV's, they also produce specialized vessels such as LNG-powered ferries, naval and coast guard vessels, fishing vessels and non-offshore related icebreakers with customer specific applications. Across these different vessel types, higher margins are typically generated from the vessels that require a high degree of customization. VARD also offers their vessel designs to external customers, often in packages with main vessel equipment.
The company has developed strong relationships with customers over the years, and has gained a reputation for constructing reliable, high quality vessels. The depth of relationships with, and geographical proximity to, a large number of industry-leading customers and suppliers provides a strategic advantage.
VARD also has the flexibility to execute multiple modifications in the specifications requested by its customers during construction, enabling them to offer highly customized OSV's to cater to the needs of oil companies and field operators.
With innovative design and brilliant engineering teams, as well as highly skilled workers engaged in outfitting, they are able to provide some of the most advanced vessels, solutions and services to customers worldwide.
VARD consists of ten shipbuilding facilities worldwide: five in Norway, two in Romania, two in Brazil, and one in Vietnam. All yards are strategically located and are able to provide the right combination of capabilities, capacity, cost-efficiency and market proximity to meet the needs of a diverse and sophisticated global customer base.
Environment & Society
As a heavy-industry enterprise, VARD is subject to extensive and changing laws and regulations designed to protect the environment. These include laws and regulations relating to air and water quality, imposing limitations on discharge of pollutants into the environment and establishing standards for treatment, storage and disposal of toxic and hazardous wastes.
The company takes the environmental responsibilities and corporate citizenship seriously being highly aware of the environmental effects its activities may cause, and thus taking necessary steps to limit the impact by continuously developing technologies, practices and business opportunities compatible with sustainable development.