Triyards books liftboat order

Triyards, an offshore vessel fabrication and engineering solutions provider to the oil and gas industry, has added another liftboat contract to its order book.

The order for the new unit, valued around $50.5 million, comes soon after TRIYARDS’ two other liftboat contracts  worth US$112 million in July.

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.

“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 showcase the confidence clients have in our engineering capabilities.  This unit reinforces our versatility and capability in this product segment.”

The liftboat is scheduled for completion in 2016. The company did not reveal the name of the client.

In an e-mail sent to Offshore Energy Today, a Triyards spokesperson revealed that the liftboat would be built in the company’s Vietnam yards.

Asked about the reduced value of the liftboat order, when compared the the previous ones, the spokesperson said: “Every liftboat order can be customised and with regards to this order in particular, the owner is furnishing the yard with their own equipment therefore the reduction in the value of the order.” 

Liftboats in demand

That liftboats are in the spotlight these days proves the fact that Singapore’s Ezion yesterday announced it secured a liftboat contract worth up to $76 million, while another Singapore-based company Swissco, on the same day announced it was entering the liftboats market by acquiring its first unit of the kind.