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Triyards bags offshore contracts worth $45.5m

Triyards bags offshore contracts worth $45.5m
Singapore’s Triyards Holdings has clinched a string of offshore oil and gas contracts worth $45.5m amid the current difficult market conditions.

Among the contracts include the construction of a scientific research vessel for new client Taiwan Ocean Research Institute, National Applied Research Laboratories (Tori), a Taiwan government agency.

The specialised ocean research ship is slated for completion by 31 August 2017. The diesel electric-powered workboat worth in excess of $26.4m will be used to support on-going research activities of the Tori.

The other orders were secured by Triyards’ wholly-owned Strategic Marine and include two 26-metre windfarm crew transfer vessel to support the renewable energy sector, as well as a 36-metre high speed passenger ferry.

The catamarans and ferry contracts were awarded by new clients based in the UK and New Caledonia.

“Over the past year, not only were we able to swiftly grow our orderbook, but we have also diversified our client and product mix, entrenching ourselves further in new areas such as the renewable energy sector,” said Chan Eng Yew, ceo of Triyards.