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Vard lands €220m Trinity House vessel contract

5 sourcesUpdated Jul 22, 2026

Trinity House has awarded Vard, the Norwegian unit of Fincantieri, a contract worth over €220 million to design and build two multi-function buoy and lighthouse maintenance vessels, replacing the ageing THV Patricia and THV Galatea as part of a fleet renewal program. The ships will be based on Vard’s 9 601 design and will support aids to navigation, hydrographic surveys, and emergency response across UK waters. They will feature hybrid propulsion, battery energy storage, and modern digital and cybersecurity capabilities, with preparations for potential conversion to methanol power. The project will also include a training partnership between Vard, Trinity House, and Vard Marine to enhance maritime apprenticeships. Deliveries are planned for 2029, reflecting Vard’s global industrial model and UK-content commitments. Trinity House oversees navigational aids for England, Wales, the Channel Islands, and Gibraltar, funding its operations largely through light dues on shipping.

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Pakistan Regains B Rating Following S&P Upgrade

S&P Global Ratings upgraded Pakistan’s long-term sovereign credit rating to B from B- with a stable outlook, crediting stronger institutions, sustained IMF-backed reforms, improved fiscal discipline, and a sharp rise in foreign exchange reserves to about $25.3 billion, boosting external financing capacity. The upgrade, welcomed by the government, is expected to boost international investor confidence, support continued growth and reform momentum, and open up new financing opportunities as Pakistan pursues a stronger fiscal stance in the coming years.

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Wabtec Shares Fall After Strong Q2, Raises Outlook

Wabtec reported a strong Q2 2026 showing double-digit revenue growth, margin expansion, and a multi-year backlog near $31 billion, prompting an upward revision of full-year 2026 guidance to about $12.30–$12.60 billion in revenue and $10.60–$10.90 in adjusted EPS. Despite solid results, the stock has shown volatility as investors weigh the earnings strength against higher costs and tariffs, with continued analyst activity and occasional premarket moves reflecting that mix.

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Last updatedJul 22, 2026

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Broke ae.marketscreener.com · Jul 22, 9:27 AMCenter +1h5 sources +1h on

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UK Defence JournalCenterHigh factualityJul 22, 2026

UK’s Trinity House awards huge ship deal to Norway’s VARD

maritimejournal.comOtherJul 22, 2026

Vard wins €220 million first-of-a-kind contract

hk.marketscreener.comOtherJul 22, 2026

Fincantieri, Vard lands contract worth more than €220m from UK body for navigation safety

maritimt.comOtherJul 22, 2026

Vard awarded contract with Trinity House - Maritimt Magasin

ae.marketscreener.comOtherJul 22, 2026

Fincantieri, Vard wins €220m contract with Trinity House

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PNC Expands MBB Holdings by 106,144 Shares

PNC Financial Services Group increased its stakes in several iShares ETFs in Q1, including a 3.5% rise in iShares MBS ETF (MBB), a 3.3% boost in iShares U.S. Treasury Bond ETF (GOVT), and a 1.7% increase in iShares Core S&P Mid-Cap ETF (IJH); it also trimmed positions in iShares MSCI EAFE ETF (EFA) by 0.7% and cut iShares S&P 500 Value ETF (IVE) by 3.1%. These moves indicate a diversified repositioning across fixed-income and equity exposures among major ETF holdings with institutional-scale ownership.

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