TRIYARDS' Liftboat Orderbook Gathers Steam

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas industry, has added another liftboat contract to its orderbook.

The order for the new unit comes soon after TRIYARDS' two other liftboat contracts worth US$112 million in July.

TRIYARDS Chief Executive Officer, Mr 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 realize 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.

TRIYARDS is continually diversifying its product offerings and has since launched two proprietary-designed offshore units – the TSU 475 and TDU-400 – last year. The TSU 475 is an advanced third-generation liftboat that will be able to work in deeper and harsher conditions, while the TDU-400 is a premium-class 400 HPHT (high pressure, high temperature) drilling jack-up rig.