Viking Piques Interest with New Letter of Intent

Viking has signed a letter of intent with Vard Holdings Limited (“VARD”) for two special cruise vessels, with an option for an additional two. The ships are scheduled for delivery in Norway in the second quarter of 2021 and 2022, respectively.

Details are sketchy as to exactly what the “special cruise vessels” will entail. But, industry speculation sees this as Viking’s inevitable foray into the expedition segment. The letter of intent says only that the ships will be “totally innovative” and conform to the highest safety and environmental impact standards.

These are the first ships VARD, a Fincantieri subsidiary, is building for Viking. A final contract is expected to be signed by mid-2018 with a price exceeding 460 million Euro. And, that’s only for the first two ships. The vessels will be developed by Vard Design in Norway, with the hulls built by VARD in Romania.

Roy Reite, CEO and Executive Director of VARD, stated, “It is our pleasure to work with Viking to develop a new series of cruise vessels. The company is well known for its expansion in River Cruises and Ocean Cruises, and they are now looking to Norway for the design and construction of its new cruise fleet. We are honored to be chosen as their partner in this exciting project and look forward to continuing the excellent cooperation with the Viking team.”

The Trieste, Italy- based Fincantieri has already delivered four ocean vessels to Viking, with 12 more to be delivered by 2027

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