Vard Holdings expecting weak order inflow

摘要

Vard Holdings Ltd has announced financial results for the first quarter ended 31 March 2015. The company said it continued to see a high level of activity at its yards and delivered five vessels during the first quarter. However, the group has been preparing for challenging times as its customers, which operate mainly in the oil and gas sector, are grappling with the effects of the industry down cycle. No new vessel orders were secured by the group in the first quarter. At the end of the quarter, its orderbook was valued at NKrl5.6 billion (US$1.96 billion), representing a 28 per cent decrease from the same quarter in the preceding year. The orderbook comprises 32 vessels, of which 18 will be of Yard's own design.