Triyards wins two cruise vessel contracts

Aqua Mekong Aqua Mekong

JANUARY 9, 2014 — Singapore listed shipbuilder Triyards Holdings Limited has won two orders for cruise ship work worth a total $7.5 million, demonstrating its ability to win business from outside the oil & gas sector.

The first contract will see Triyards build the hull and install the piping, electrical and mechanical systems and equipment in a newbuild river cruise vessel, the Aqua Mekong.

The 63 m vessel will be under construction at Triyards for nine months and the shipbuilder says it will also carry out the "mocked up part of her 5-star outfitting and furnishing of luxurious cabins."

The vessel is being built for established cruise ship operator Aqua Expeditions, whose vessels operate in South America and South East Asia. She will operate in the Mekong River.

The second contract is from Miami, FL, headquartered International Shipping Partners and is for the upgrading of accommodations for the Silver Discoverer. The 103-m, 5,218GT will undergo a 12-week refurbishment prior to her service entry in the last leg of first quarter 2014. Upgrades will include a new gym, beauty salon, and expedition cabins.

Triyards says it is well positioned to meet the demand for quality finishing and workmanship demanded by cruise vessel operators and owners, by leveraging its experience in meeting exacting accommodation specifications of the offshore oil and gas industry.

CEO Mr. Wong Bheet Huan, said: "These wins underscore a new chapter for Triyards that propels us into adjacent opportunities within the Marine industry. Our focus on building engineering capabilities has had the effect of Triyards gaining recognition beyond work in the offshore oil and gas arena, and into the offshore tourism industry. This bodes well for our future as we continue to diversify and establish new revenue streams. We will continue to focus on creating value in our design range and capabilities while delivering highly demanding projects."

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