Triyards’ Liftboat Orderbook Filling Up

Triyards Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added another liftboat contract worth USD 50.5 million to its orderbook, the company announced in a release.

The order for the new unit comes soon after TRIYARDS’ two other liftboat contracts worth USD 112 million in July, bringing the total value of newbuilding orders to USD 162.5 million

Triyards Chief Executive Officer Chan Eng Yew said: “Our recent new orders attests to the industry’s confidence in us and our ability to meet our clients’ stringent requirements on safety, quality, timeliness of delivery and cost efficiency. They also reflect the market’s satisfaction of our engineering and fabrication capabilities.

Operators are starting to realise the high value-to-cost ratio of using liftboats, increasing its demand for these vessels. Our extensive track record, proven designs and fabrication capabilities put us in good stead to gain from this and enhance our lead in this product segment.

The orders also showcases the confidence clients have in our engineering capabilities. This unit reinforces our versatility and capability in this product segment.”

The unit is scheduled for completion in 2016.