Marine Link
Sunday, July 22, 2018

Triyards News

TRIYARDS Post 17% Revenue Growth

Photo TRIYARDS

TRIYARDS Holdings Limited (“TRIYARDS” or the “Group”) reports a revenue of US$91.2 million for the three months ended 30 November 2016 (“1QFY17”), a 17% increase from the corresponding year-ago period (“1QFY16”). The increase was mainly a result of contributions from two units of multi-purpose support vessels (“MPSVs”), three units of chemical tanker, four units of escort tugs, one unit of scientific research vessel and two units of oil tankers during the reporting period and contribution from the Strategic Marine Group Net attributable profit (“PATMI”) for 1QFY17 was US$2.1 million…

Four Escort Tugs Delivered to Star Marine

(Photo: Robert Allan Ltd.)

Four new escort tugs designed by Robert Allan Ltd. and constructed at the Triyards SSY facility in Saigon, Vietnam, by contract to Greenbay Marine Services Pte. of Singapore, have been delivered to owner Star Marine Ltd. of Jeddah, Saudi Arabia.The four RAstar 3400 escort tugs, named Murjan 1, 2, 3, and 4, will be stationed in the Red Sea port of Rabigh, Saudi Arabia, and managed by Marine Services Co. Ltd.According to the designer, the RAstar 3400 escort/offshore terminal tug designation is reserved for a distinctive class of high-performance ASD tugs…

World’s Largest Liftboat Up for Delivery

SUDA 450-L3T (Photo: A. K. Suda, Ltd.)

SUDA 450-L3T, a 450-foot (137.25-meter) truss-legged liftboat, designed by A. K. Suda, Ltd. and built by Triyards Marine, Saigon Shipyard in HCMC, Vietnam, reported to be the world’s largest liftboat, is being delivered to its owners, EMAS Offshore of Singapore at the end of 2nd Quarter 2014. This state-of-the-art vessel is a three-legged, self-propelled, self-elevating general service workboat, known as the BH-450, and is suitable for operation in the North Sea. It is an ABS classed with Unrestricted Service…

OSD Designs Research Vessel for TORI

Image: OSD

Offshore Ship Designers (OSD-IMT) has signed a new contract to design an IMT2001 Scientific Research Vessel for the Taiwanese Ocean Research Institute (TORI). The vessel will be used to support long-term oceanographic observation programs, including the operation of unmanned ROVs, terrain survey and mapping, seismic pattern detection, long-core sampling, compiling diagrams of topology and stratum, and performing real-time data processing and sampling within its onboard laboratory facilities.

ABS Elects New Council and Committee Members

At the 151st Annual Meeting of the Members of ABS, and the subsequent meeting of the ABS Council, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property and preserving the natural environment. "ABS' strength as a global classification society is drawn from its membership and the many regional, national and technical committees that contribute to the process of developing practical, impartial and authoritative standards," said ABS Chairman Robert D. Somerville. •    Robert G. •    James G. •    Maria F. •    Chow Yew Yuen, Keppel Offshore & Marine USA Inc. •    Dr. Jen-Hwa Chen, Chevron Shipping Co. •    Dr.

Shipbuilding First: Strategic Delivers StratCat to Njord Offshore

This StratCat features the world’s first IPS 900 quad installation

Strategic Marine delivered a world’s first to European windfarm service sector operator, Njord Offshore. This vessel builds on the success of the first eight 21m vessels built for Njord by Strategic Marine. The StratCat, a multi-purpose service vessel capable of transporting up to 24 crew, is first in its class in three particulars. The StratCat is the first of four in a series of 26m vessels ordered by UK-based Njord. Strategic, a member of the TriYards Group with facilities in Australia…

Singapore's Triyards Introduce New HPHT Jack-up Design

Triyards Holdings now able to design & build its own proprietary drilling jack-up rigs and self-elevating units (SEUs). The new design is for the Premium Class 400 HPHT (High Pressure, High Temperature) drilling jack-up rig, the TDU-400. The TDU-400 is designed to withstand up to 100-knot winds while satisfying wave criteria for global deployment. Able to provide accommodation for up to 220 personnel, the jackup boasts leg lengths of more than 535ft (approximately 163m) and can operate in water depths of up to 400ft (approximately 120m). Tridyards’ Chief Executive Officer, Mr Wong Bheet Huan, said: “This latest design demonstrates that our dedication to enhancing our engineering capabilities has paid off, expanding the scope of our product offerings.

BMT Secures RoPax Ferry Design Contract

Photo: BMT

BMT Group subsidiary BMT Nigel Gee (BMT) said it has secured a new project to design an 85-meter steel-hulled catamaran RoPax ferry for Strategic Marine, a subsidiary of Triyards Holding Limited. The ferry is for Scottish ferry operator Pentland Ferries, and BMT will be responsible for concept through to production design, working closely with Strategic Marine. The vessel will replace Pentalina that has been operating on the route from the Scottish mainland to the Orkney Islands since 2008.

TRIYARDS' Liftboat Orderbook Filling up

Triyards Holdings

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) 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.

Placement of Shares in Triyards Holding

Triyards constantly striving to improve and strengthen their capabilities and processes

The Board of Directors of Triyards Holdings Limited refers to the Company’s announcements dated 17 September 2014 and 25 September 2014  relating to the placement of up to 29,500,000 new ordinary shares in the capital of the Company. Unless otherwise defined, all capitalised terms used herein bear the same meanings as in the Announcements. The Board is pleased to announce that the completion of the Placement has taken place today in accordance with the terms and conditions as set out in the Placement Agreement and 29,500,000 Placement Shares have been allotted and issued.

Ong Appointed Company Secretary, Triyards Holdings

Courtesy TRIYARDS Holdings Limited

The Board of Directors of Triyards Holdings Limited announced that Mr. Yeo Keng Nien has resigned as the Company Secretary of the Company with effect from 15 July 2016. The Board would like to thank Mr. Yeo Keng Nien for his contributions during his term of service as the Company Secretary of the Company and wishes him success in his future endeavours. The Company informed that Mr. Shannon Ong has been appointed as the Company Secretary with effect from 15 July 2016.

TRIYARDS Buys into Aluminium Shipbuilding Expertise

Built by Strategic Marine

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products and clients with its latest acquisition of experienced shipbuilding and fabrication companies, Strategic Marine (S) Pte Ltd and Strategic Marine (V) Co. Limited (collectively termed Strategic Marine). Strategic Marine has been building aluminium and steel vessels as well as complex aluminium and steel structures for the marine infrastructure and mining sectors for over 10 years.

Liftboat Jinshan 1 Delivered

Photo: A. K. Suda

A 97.5m truss-legged liftboat designed by A. K. Suda (SUDA) has been completed and is being delivered to its owner, following on the heels of a 91.5m truss leg liftboat delivered earlier this year. Built by Triyards Marine for Swissco Offshore, the new state-of-the-art vessel Jinshan 1 is a four-legged, self-propelled, self-elevating, general service liftboat based on the SUDA 320-L4T. It is ABS classed with Unrestricted Service, +A-1, + AMS. The hull dimensions are 55m x 35m x 4.5m. The quarters arrangement can accommodate 146 persons including crew.

Triyards Loses Two Shipbuilding Contracts

Photo: Triyards Holdings

Triyards Holdings, the offshore marine division of Ezra Holdings, has swung deep into the red following the termination of two shipbuilding contracts worth some $51 million. "The Board of Directors of Triyards Holdings wishes to announce that its wholly owned subsidiary, Saigon Offshore Fabrication and Engineering Limited, has received notices of termination of the two shipbuilding contracts dated 26 June 2015 and the addendum dated 10 May 2017 for the design and construction…

TRIYARDS Reports Strong 4QFY15

Courtesy TRIYARDS Holdings Limited

TRIYARDS Holdings Limited (TRIYARDS or the Group) reported a strong finish for the financial year ended 31 August 2015 (FY15) with a 59% year-on-year jump in net attributable profit (PATMI) to US$8.4 million in the fourth quarter, driven mainly by liftboat construction. Work done on liftboats as well as contributions from aluminium shipbuilder Strategic Marine also lifted Group revenue by 81% to US$88.4 million. For the full year, TRIYARDS achieved a PATMI of US$27.2 million on a revenue of US$270.1 million.

Vietnam Offshore Contract for EMAS AMC

EMAS AMC contracted by Petroleum Technical Services Corporation Mechanical and Construction to provide facilities for the Dua sub-sea field. Singapore-based EMAS AMC, the subsea division of EMAS, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, has been awarded a contract from Petroleum Technical Services Corporation Mechanical and Construction (PTSC M&C) for the transportation and installation of facilities for the Dua subsea field, which will be developed as a subsea tie-back to the Chim Sao Field in offshore Vietnam. The contract value is approximately US$47-million and will commence in the third quarter of 2012.

Triyards Loses Shipbuilding Contract

Photo: Triyards Holdings

Cash-strapped shipbuilder Triyards Holdings Limited has received a termination notice for a chemical tanker design and construction deal. The Singapore-based yard group said after Thursday trading hours that its subsidiary Saigon offshore Fabrication and Engineering has received notice of termination for the design and construction of a chemical tanker at a contract value of US$25.5 million. "Pursuant to the Notice, the Buyer will claim for the reimbursement of all sums paid by the Buyer in advance on account of the Contract in an amount of US$5.1 million," said a statement.

Triyards Bags Liftboat Orders

TRIYARDS Holdings Limited an offshore vessel fabrication and engineering solutions provider to the oil, gas (O&G) and marine industry, started the year on a promising note, armed with US$75.4 million in new liftboat orders. The latest liftboat contracts not only add to its orderbook, but also extend TRIYARDS’ earnings visibility into its financial year ending 31 August 2016 (FY16). The Group’ current newbuild pipeline has quickly grown to eight liftboats, having won five new orders in the last six months. To-date, TRIYARDS has built and delivered seven liftboats on time and within budget since 2007, cementing its position as Asia's leading fabricator and engineering solution provider in this segment.

Ezra to Supply Turret Mooring System for Libra Field

Ezra Holdings Limited’s wholly owned subsidiary, London Marine Consultants (LMC), Ezra’s Floating Production, Storage and Offloading (FPSO) Turret Design outfit, has been awarded a contract by Sembcorp Marine’s subsidiary Jurong Shipyard of Singapore, to supply an external turret mooring system for the Libra field’s Extended Well Test (EWT) FPSO vessel. The Libra oil field is a large, ultra-deepwater (up to 2,500 meters) oil prospect located in the Santos Basin, about 230 kilometers off the coast of Rio de Janeiro, Brazil, north of Tupi field. The oil field estimated to contain recoverable resources ranging between eight billion to 12 billion barrels of oil and is one of the largest deepwater oil accumulations globally.

Triyards Extends Product Range to Escort Tugs

Courtesy Triyards

TRIYARDS Holdings Limited has extended its product range to escort tugs for new client Greenbay Marine Pte Ltd, a Singapore-based international specialist marine craft group, demonstrating the Group’s established versatile engineering capabilities which have driven its continued diversification beyond the oil & gas industry. Worth some US$12.8 million, the contract is for four RAstar 3400 Azimuth Stern Drive Tugs (excluding owner-furnished equipment), and expected to be delivered by early 2017.

Wärtsilä Systems for Vietnamese Tankers

Wärtsilä X40-B two-stroke engine Photo Wartsila

Three new 21,800 dwt chemical tankers, under construction at two different shipyards in Vietnam owned by Triyards Holdings Limited, will feature integrated Wärtsilä propulsion and power generation systems. These ships are being built for Swiss-Canadian Maritime Ltd and will be managed by Switzerland based ABC Maritime A.G. The contract with Wärtsilä was signed in November, and there are options for three more vessels. This contract represents the largest ever scope of supply that Wärtsilä is to deliver to a shipyard in Vietnam.

TRIYARDS Bags $ 22 mln CPC Contracts

TRIYARDS Holdings Limited has secured contracts to build two oil barges worth NTD 716 million (equivalent to approximately about US$21.82m) from a new client, CPC Corporation, a Taiwan state-owned oil and gas company responsible for supplying energy to its domestic market. The new contract wins are for the construction of a pair of oil barges intended for coastal service and the supply of bunker fuel to vessels in Taiwan's harbour and coastal areas to be delivered in 2QFY18. Mr. Chan Eng Yew, TRIYARDS’ Chief Executive Officer, said: “This attests to our continued efforts to diversify our orderbook beyond the traditional O&G sector.

Change in Triyards' Address

Courtesy TRIYARDS Holdings Limited

The Board of Directors of Triyards Holdings Limited announced that with effect from 1 January 2016, the address of their registered office of the Company and its Singapore incorporated subsidiaries will be changed from its present location at 15 Hoe Chiang Road #28-01 Tower Fifteen Singapore 089316 to: 51 Shipyard Road Singapore 628139

Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

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