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Triyards bags $75.4m order for two liftboats

Triyards bags $75.4m order for two liftboats
Triyards Holdings has bagged a $75.4m deal to construct two new liftboats, boosting its orderbook to eight liftboats.

To-date, the offshore vessel fabrication and engineering solutions provider to the oil and gas industry has built and delivered seven liftboats since 2007.

The two new orders are state-of-the-art four-legged liftboats expected to be delivered to well-established and experienced US-based operators, according to Triyards.

“We will remain focused on strengthening our lead in liftboats in Asia, the Middle East and West Africa,” said Chan Eng Yew, ceo of Triyards.

Meanwhile, Singapore-listed Triyards posted a net profit of $8.22m in the first quarter of financial year 2015, up 13% year-on-year.

Revenue in the quarter ended 30 November 2014 came up to $56.7m, down 37% year-on-year due mainly to lower contributions its subsea construction vessel and self-elevating units (SEUs).

Triyards believed that there will be continued demand for its offering, notwithstanding competitive and challenging environment in the next 12 months.

It added that weakened oil prices recently could potentially lead to reduction or delay of oil and gas capital expenditure especially for exploration activities.