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Chemical tanker order cancelled at Triyards

Chemical tanker order cancelled at Triyards

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Singapore offshore shipbuilder Triyards Holdings has not enjoyed the fruits of a diversification drive, with subsidiary Saigon Offshore Fabrication and Engineering receiving notices of termination from Swiss-Canadian Maritime for two chemical tankers ordered in 2015.

The total value of the contracts is $51m, and Swiss-Canadian Maritime is claiming the reimbursement of $10.2m in paid down on the order.

The vessels were due for delivery in 2017, but appeared to suffer from delays.

Triyards said it will continue its focus on strengthing its balance sheet, improving liquidity and streamling operations and estimates that the next 12 months will remain extremely challenging for the group.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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