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July 7, 2015

Triyards receives $175m order for two BH450 series liftboats

Triyards has secured a $175m contract to deliver two enhanced BH450 series liftboats.

By Samseer M

Triyards has secured a $175m contract to deliver two enhanced BH450 series liftboats.

Construction of the new vessels marks the company’s third and fourth liftboat builds in this series.

Triyards CEO Chan Eng Yew said: "Our stepped-up presence in large liftboats reflects the industry’s endorsement of the group’s strong engineering and fabrication expertise.

"As the region’s leading shipbuilder for these vessels, we are poised to gain further as their adoption widens in the industry globally."

The new lattice-legged vessels will be able to stand at more than 450ft-tall and operate in water depths of up to 344ft.

"We will continue to diversify and establish our reputation in other areas, as well as grow our income stream from marine and industrial fabrication."

These liftboats will be capable of supporting wide range of offshore, clean and renewable energy projects such as windfarms.

In addition, each boat will have a capacity to accommodate up to 250 personnel.

According to Triyards, the four-vessel order has significantly contributed to its operating cashflow of $33.1m for the third quarter of this fiscal year.

"Even as we strengthen our presence throughout the full value chain of the offshore oil and gas sector, we will continue to diversify and establish our reputation in other areas, as well as grow our income stream from marine and industrial fabrication," Eng Yew added.

In April, Triyards received orders worth $100m for a liftboat and a high-speed aluminium craft project, along with a fabrication project.

For this new liftboat order, Triyards will build a three-legged lattice BH335 unit, which will bring the company’s current new-build pipeline to 11 vessels.

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