Triyards bags US$45.5 million in contracts

Triyards inked a string of contracts worth US$45.5 million.

One of the newly minted contracts will see the group construct its scientific research vessel for new client Taiwan Ocean Research Institute, National Applied Research Laboratories (TORI), a Taiwan government agency. Slated for completion in the financial year ending 31 August 2017 (FY17), the diesel electric-powered workboat worth in excess of $26.4 million to be used to support on-going research activities of the TORI.

The other orders were secured by wholly-owned Strategic Marine and include two 26m wind farm crew transfer vessels, which will support opportunities in the renewable energy sector, as well as a 36m high speed passenger ferry. Strategic Marine will also be busy with aluminum and steel fabrication work such as pontoons and gangways. The vessel contracts were awarded by new clients based in the United Kingdom 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,” Triyards’ CEO Chan Eng Yew said.

Triyards currently owns and operates fabrication yards in Ho Chi Minh City and Vung Tau in Vietnam, as well as design and engineering facilities in Houston and Singapore.