Vard Holdings has announced it has secured a $70m contract for the design and construction of three vessels for an unnamed client.

Further details of the contract were not disclosed for this latest deal which adds to only a handful of vessel orders the Norwegian shipbuilder has received this year.

Vard is currently facing a dire outlook as the offshore support sector continues to struggle, and earlier this month laid off the entire workforce at Vard Brevik yard in Norway while also shutting down operations at the Vard Niteroi yard in Brazil.