Harland & Wolff  has been issued a letter of intent for the mid-life upgrade and drydocking of a large vessel. Harland & Wolff was chosen by the client for its ability to execute on a complex mid-life upgrade utilising the company’s market leading drydock in Belfast, the largest in the UK.

Subject to formal execution of the contract, the vessel is expected to be in the dry dock for a period of five months through early 2024 and the contract value is expected to be in the region of £60 million – £70 million, dependent on the extent of final works undertaken. As part of the overall project delivery, a sum of £5 million will be made available to the company immediately to commence various workstreams in 2023 prior to the arrival of the vessel. Apart from the initial sum, this letter of intent is non-binding and will be subject to execution of a formal contract that is expected within two to three months.

A further announcement will be made on execution of the final contract.