Triyards Bags $100 Mln in Contracts

TRIYARDS has secured deals for two ice-class Multi-Purpose Support Vessels (MPSVs) (which excludes owner furnished equipment) as well as a turret fabrication job worth over US$100 million.

The MPSV contracts were signed with Ocean Energy Ventures, a wholly-owned subsidiary of MDL Marine Holdings, and will extend the earnings visibility for the offshore vessel fabrication and engineering solutions provider beyond the financial year ending 31 August 2016.

TRIYARDS’ new turret fabrication project, on the other hand, is for London Marine Consultants (LMC) which recently won a contract for the engineering, procurement and construction of an external turret mooring system for the Libra field’s Extended Well Test Floating Production, Storage and Offloading vessel. LMC is a wholly-owned subsidiary of TRIYARDS’ parent, Ezra Holdings Limited.

Chan Eng Yew, the Group’s Chief Executive Officer, said: “It has been a strong start for us in 2015, with TRIYARDS adding almost US$180 million in new orders.

“Having already established our leadership in the liftboat segment in Asia, we remain committed to growing TRIYARDS’ reputation as a first-class builder of a wide range of vessels and equipment.”

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According to Triyards, building and equipping the two MPSVs with ice-class capabilities will not be new to the Group. These ABS-classified MPSVs will have strengthened hulls capable of sailing through ice. Measuring 89.3 metres in length, each MPSV will be fitted with a 150T active heave compensated crane and will come equipped with a Class 2 dynamic positioning system, making the unit suitable for global deployment. These vessels are based on the V4830 design from naval architect Vik-Sandvik Design India.

Image: MDL

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