Triyards extends product range with US$12.8m order for new escort tugs

 Mainboard-listed Triyards Holdings has extended its product range with a US$12.8 million (S$18.2 million) order for escort tugs.
Mainboard-listed Triyards Holdings has extended its product range with a US$12.8 million (S$18.2 million) order for escort tugs.PHOTO: TRIYARDS

SINGAPORE - Mainboard-listed Triyards Holdings has extended its product range with a US$12.8 million (S$18.2 million) order for escort tugs for a new client, Singapore-based marine craft group Greenbay Marine.

The contract is for four RAstar 3400 Azimuth Stern Drive Tugs, to be delivered by early 2017. The tugs will be designed for escort operations in adverse sea and weather conditions.

The company said the newbuild contract adds to its "growing earnings visibility" for its next financial year ending Aug 31, 2017.

Said chief executive officer, Mr Chan Eng Yew: "We will continue to execute our product and sector diversification strategy to build a diversified orderbook."

The group's orderbook was US$564 million as at October 2015 comprising nine liftboats, two multi-purpose support vessels, three chemical tankers, a variety of aluminum craft, a floating production, storage and offloading vessel turret as well as two industrial fabrication projects, all in various stages of construction.