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LEX advises four Icelandic ship owners in one of Iceland’s largest ship building deals

5. December, 2017

On December the 3rd it was announced on Singapore Stock Exchange that four Icelandic fisheries had secured contracts with Vard Holdings Limited for the design and construction of seven stern trawlers. Eyvindur Sólnes a partner at LEX advised Bergur-Huginn, Utgerdarfelag Akureyringa, Gjögur and Skinney-Thinganes on the transaction. The contract value is approximately NOK 700 million.
In its press release it says: “Together, VARD and the four ship owners have developed a new concept for seven stern trawlers for fishing operations in Iceland. The vessels, measuring 29 by 12 meters, will be constructed and outfitted by Vard Aukra in Norway for deliveries in 2019.“

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