Another chemical tanker cancelled at Triyards

Another chemical tanker cancelled at Triyards

Singapore shipbuilder Triyards Holdings has announced that its Vietnamese subsidiary yard Saigon Offshore Fabrication and Engineering has received a notice of termination for a chemical tanker ordered at the yard.

The vessel is part of three chemical tankers ordered by Swiss-Canadian Maritime in 2015. The other two vessels have already been cancelled by the owner in December 2017.

The value of the contract is $25.5m and Swiss-Canadian Maritime is claiming the reimbursement of $5.1m in advanced payment.

Triyards, which hired advisors last year to help come up with a restructuring plan, is now assessing the financial impact of the contract termination.

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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