Swissco orders a liftboat and Triyards books one

Triyards-built liftboat

SEPTEMBER 15, 2014 — Singapore listed Swissco Holdings Limited reported today that it has signed a contract with a Southeast Asian shipyard for a self-propelled liftboat that will be able to operate in water depths up to 70 m and will have accommodations for 120 offshore personnel. It will be deployed within two years and is priced at approximately US $56 million including owner furnished equipment.

Interestingly, Singapore listed Triyards Holdings said today that it has booked a liftboat order, worth US $50.5 million. It is scheduled for delivery in 2016.

The Swissco liftboat will be its first and CEO Mr. Alex Yeo says the order is “significant in strengthening the group’s position as a fully-integrated offshore marine player – one of the few in the industry. Acquiring our first liftboat allows us to expand and diversify our existing fleet, and enhances our value proposition to our oil and gas customers as a comprehensive marine services provider.

“Moreover, in recent years we have seen an increase in demand for liftboats in Southeast Asia. With oil and gas majors stepping up their exploration and production activities to satisfy the regional energy demand, Swissco is looking to tap into new opportunities provided by the liftboat market, which remains relatively underpenetrated in this region.”

“The use of liftboats originated in the United States, in the Gulf of Mexico. But with more oil platforms requiring upgrading, maintenance and replacement in Southeast Asia, liftboats are also increasingly seen as more cost-efficient support vessels for a wide array of offshore jobs here,” Mr Yeo said. “Liftboats allow offshore operations to persist even in harsh weather conditions, and are particularly suited for the shallow waters in this region. We are one of the first few offshore marine service providers in Southeast Asia to enter this niche market, which positions us well to ride the uptrend.”