Norwegian shipbuilder and ship designer Vard Holdings Limited delivered the first vessel built by the company's newest shipyard, Vard Promar in Brazil, on Jan. 8, 2016.

Featuring a capacity of 7,000 cbm, the fully pressurized liquefied petroleum gas (LPG) carrier, named Barbosa Lima Sobrinho, is the second in a series to be delivered to tanker shipping company Petrobras Transporte S.A. (Transpetro), and the first to be built entirely at and delivered from Vard Promar.

"The delivery marks an important milestone in the development of the new shipyard, and for Vard's operations in Brazil," said the company.

As at Dec. 31, 2015, Vard had 29 vessels in its orderbook, eight of which are slated for delivery from the group's two shipyards in Brazil.

The Barbosa Lima Sobrinho carrier is part of a contract signed between the companies in June 2010, under which Vard Promar was to deliver a series of eight LPG carriers between 2014 and 2016.

However, in December 2015, Transpetro terminated the contracts for two LPG carriers, the last two of the series.

The combined contract value for the series of eight vessels was US$536m.