Denmark-based power cable manufacturer and installation company NKT has placed an order with Norway’s VARD for the construction of its new cable-laying vessel (CLV).
In May 2023, on the back of a record order backlog and the strong market outlook, NKT announced investments in a new high-voltage factory on the existing site in Karlskrona, Sweden, and a new cable-laying vessel.
NKT and VARD signed the contract on December 15, 2023, whose value is between €200 and €250 million.
The vessel, to be designed by the Norwegian company Salt Ship Design, will be constructed in parallel with NKT expanding its site in Karlskrona, and both assets are expected operational from 2027.
The hull for the cable-layer will be built at Vard Tulcea in Romania and outfitted and delivered from one of VARD’s yards in Norway in Q4 2026.
“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,” said Roy Arne Stavik , SVP Sales & Marketing at VARD.
In terms of other news coming from NKT, the company in September 2023 announced it had certified its CLV NKT Victoria to use biofuels such as hydrotreated vegetable oil (HVO) as part of its decarbonization goals. This is said to allow the reduction of carbon footprint from the vessel’s fuel consumption by more than 98%.