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Triyards wins $17.8m order for wind farm vessels, river cruise vessel

Triyards wins $17.8m order for wind farm vessels, river cruise vessel
Singapore’s Triyards Holdings has bagged an order worth $17.8m to build three wind farm support vessels and one luxury river cruise vessel.

The engineering and fabrication services firm has been seeking to establish a greater foothold in the renewable energy sector, as well as looking out for opportunities in other markets.

“These contracts are the result of our conscientious efforts to diversify our client base and product offering. In addition, the wind farm vessel orders attest to our growing standing in the renewable energy market,” said Chan Eng Yew, ceo of Triyards, a spin-off of Ezra Holdings.

The wind farm vessels will be fitted with deck cranes with lifting capacities of up to 10 tonnes.

The 65-metre cruise vessel will be built for Compagnie Fluviale du Mekong by CroisiEurope and will ply the Mekong River between Vietnam and Siem Reap, Cambodia.

As at 29 February 2016, Triyards sat on an orderbook worth $513m.

Meanwhile, the Singapore-listed firm also reported a net profit attributable to shareholders of $5.3m for the three months ended 29 February 2016, and a 15% year-on-year higher revenue of $70.5m, largely supported by work done on four liftboats, two multi-purpose vessels and three chemical tankers.

“We are confident that our versatile capabilities will enable us to stay resilient in this difficult operating environment. Our focus remains on delivering on our orderbook and executing on our successful diversification strategy,” Chan said.