Chemical tanker order cancelled at Triyards

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.

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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