Singapore-based group Triyards Holdings, announced in December 2015 that it had diversified its product range and won contracts to build two oil barges for Taiwan state owned oil and gas company CPC Corp. They are due for delivery from its shipyard in Vietnam in 2018.
Triyards Holdings’chief executive Chan Eng Yew said: “This attests to our continued efforts to diversify our orderbook beyond the traditional oil and gas sector. Not only have we broadened our product range but we have also added another blue-chip name to our growing pool of clients.”
Triyards has further extended its product range with an order to build escort tugs for Greenbay Marine, a Singapore-based international specialist marine craft group. The contract is for four RAstar 3400 azimuth stern drive (ASD) tugs that are expected to be delivered by early 2017. Powered by 4,400kW engines, each of the 34m tugs will be specially constructed for escort operations in adverse sea and weather conditions.
Mr Chan, said: “This opportunity to work with Greenbay Marine has enabled us to expand both our product and client base, reaffirming the market relevance of our versatile and world-class engineering capabilities. We will continue to execute our product and sector diversification strategy to build a diversified orderbook.”
The business already had orders for nine liftboats, two multipurpose support vessels, three chemical tankers, a variety of aluminum craft, an FPSO turret, and two industrial fabrication projects.
Triyards owns and operates fabrication yards in Ho Chi Minh City and Vung Tau in Vietnam, and has engineering facilities in Houston, US and Singapore. In October 2014 it acquired aluminium shipbuilders Strategic Marine which added fabrication capacity and engineering capabilities in aluminium.
These efforts to expand and diversify its orderbook during 2015 have boosted Triyards’ orderbook to US$564 million.
Mr Chan said: “Our recent wins from new clients such as ABC Maritime, Taiwan Ocean Research Institute and CPC Corp, as well as new contracts from repeated clients in the past year, have demonstrated their trust and confidence in our capabilities and the industry’s healthy demand for our products and services. We will continue to focus on executing projects in hand and managing our capital requirements prudently. Building upon Triyards’ ability to service the full value chain – fabricating assets that span the entire spectrum from construction, production and decommissioning to inspection and maintenance – we are working hard to establish other recurrent income streams as we achieve greater inroads for our Triyards-manufactured turrets and cranes.”
The contract for state owned Taiwan Ocean Research Institute, part of National Applied Research Laboratories, is for an electric-powered workboat to be delivered by mid-2017. Other orders, secured by Strategic Marine include two 26m wind farm crew transfer vessels and a 36m long high speed passenger ferry.
Triyards company Strategic Marine has built workboats and crew transfer vessels into its own stock for fast delivery. The Offshore40 Gen3 crewboat and StratCat26 crew transfer vessels are available. Reece Newbold group business development manager said: “Having units on hand eliminates the waiting time for our clients, which allows them to capitalise on commercial opportunities that require the use of vessels that we can supply through this programme.”
The Offshore40 Gen3 is a 40m multi-purpose workboat that can be utilised for security and patrol boat duties, emergency response, pollution control, general workboat activity such as crew and cargo transfer, and as a shadow vessel. The StratCat is a 26m crew transfer vessel available with a variety of propulsion packages including Quad Volvo IPS (inboard performance system), Quad WaterJet, twin controllable pitch propellers, and twin fixed pitch propellers. The vessel can cater for up to 24 passengers in the main cabin and accommodate seven crew members. They can operate at speeds of 25 knots.
It has recently delivered an Offshore40 Gen3 to a client deploying it currently in Africa, and a StratCat26 with Volvo Quad IPS drives to Opielok Offshore Carriers for use in the European windfarm industry. It delivered the first StratCat in March 2015 to UK-based windfarm service operator Njord Offshore, as part of a four vessel order. It was the first commercial installation of the Quad IPS drive on a catamaran and the first IPS version 900 on any vessel.
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