Triyards wins newbuild orders worth $59 million

OCTOBER 28, 2013 — Singapore's Triyards Holdings Limited has secured two contracts worth an additional US$59 million. They include an order for what will be its tenth Self-Elevating Unit (SEU) order.

The SEU order has been placed by an Asian-based client and is for a Triyards BH 335 unit with a leg length of more than 100 m and capable of working in water depths of up to 70 m. It will have accommodations for 160 personnel. It will be fitted with heavy-lift equipment manufactured at Triyards' Houston facility.

The other contract is for the construction of a turret for a Floating Storage Offloading (FSO) in Indonesia.

"This will be our tenth SEU to deliver, and this win solidifies our leadership position in Asia for SEUs," said Mr Wong Bheet Huan, Triyards CEO. "We are seeing strong demand for our vessels, and with these two contracts, the shipyards will be kept busy all the way through 2015. "With the Group expanding its offerings not only in types of SEUs and steel fabrication, but other services such as ship repair and onshore infrastructure projects under our industrial division, we are well positioned for steady growth."