Triyards Lands $100M Deals to Build 2 MPSVs and a Turret Mooring System

Singapore's Triyards Holdings Limited (Triyards or the Group) disclosed Monday that it has secured deals for two ice-class Multi-Purpose Support Vessels (MPSVs) (which excludes owner furnished equipment) as well as a turret fabrication job worth over $100 million. These come less than two months after the recent $75.4 million win for two liftboat contracts in early January.

The MPSV contracts were signed with Ocean Energy Ventures Ltd, a wholly-owned subsidiary of MDL Marine Holdings Pte Ltd., and will extend the earnings visibility for the offshore vessel fabrication and engineering solutions provider beyond the financial year ending Aug. 31, 2016 (FY16).

Triyards’ new turret fabrication project, on the other hand, is for London Marine Consultants (LMC) which recently won a contract for the engineering, procurement and construction of an external turret mooring system for the Libra field’s (one of Brazil’s largest oil fields to-date) Extended Well Test Floating Production, Storage and Offloading vessel. LMC is a wholly-owned subsidiary of Triyards’ parent, Ezra Holdings Limited.

Chan Eng Yew, the Group’s CEO, said: “It has been a strong start for us in 2015, with Triyards adding almost $180 million in new orders.

“Having already established our leadership in the liftboat segment in Asia, we remain committed to growing Triyards’ reputation as a first-class builder of a wide range of vessels and equipment.”

Armed with the track record of successfully completing the Lewek Constellation – one of the world’s most advanced ice-class deepwater multi-lay vessels with heavy lift capabilities – on time and within budget, building and equipping the two MPSVs with ice-class capabilities will not be new to the Group. These ABS-classified MPSVs will have strengthened hulls capable of sailing through ice. Measuring 293 feet (89.3 meters) in length, each MPSV will be fitted with a 150T active heave compensated crane and will come equipped with a Class 2 dynamic positioning system, making the unit suitable for global deployment. These vessels are based on the V4830 design from naval architect Vik-Sandvik Design India Pvt Ltd., which has an established track record in delivering basic and detailed ship design services and other consultancies to ship owners, shipyards and oil & gas companies all over the world.


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