Norwegian offshore shipbuilder Vard has secured a contract for the design and construction of a diving support and construction vessel for Singapore's Kreuz Subsea group.

The vessel's hull construction will be at Vard Tulcea in Romania, and delivery from Vard Søviknes in Norway is scheduled in the second quarter of 2017.

Roy Reite, Vard's CEO and executive director, commented, "I would like to welcome the Kreuz Subsea group as a new client for Vard, and look forward to working with them on this exciting project. Being chosen to develop and build this innovative vessel for use in the Asia Pacific region is proof that our technology and designs are applicable to diverse offshore environments globally, and we are able to expand our reach into new markets."

The order is Vard's first for the year. Recently, the company announced it is implementing a cost-cutting program that includes temporary and permanent reductions in the company's work force.