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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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