TRIYARDS Holdings Limited


Dynamic, distinct and dedicated

Headquartered in Singapore, TRIYARDS began operations in 2005 when the first facility was acquired. Since then the company has gained a strong reputation as a leading integrated turnkey service provider for the global offshore, industrial and marine industries. Focused on shipbuilding, ship conversions, medium to heavy fabrication and ship repair, the company’s dedication to delivering sophisticated platforms and equipment that can handle the most challenging of offshore shipbuilding projects has resulted in fast growth for the firm.

To meet the growing demand for quality assets and strong expertise, TRIYARDS’ original facility in Ho Chi Minh City was developed from a piece of swampland and a second fabrication facility in Vung Tau was also acquired in 2007. Following this development, TRIYARDS acquired its third facility in Houston in 2011, with all three facilities rebranded as TRIYARDS. Today TRIYARDS HCMC, based in Ho Chi Minh City, is a 100,000 sq m facility, with 50,000 sq m covered fabrication facilities and an industrial activities yard of 80,000 sq m. It has quayside access of 340 m, and is 60 km to the South China Sea. TRIYARDS VUNGTAU boasts 134,000 sq m of space, with 96,000 sq m covered fabrication facilities and an industrial activities yard of 80,000 sq m; it also has quayside access of more than 347 m along the Dinh river. Following major investments, TRIYARDS SM VUNGTAU was created at a size of 147,000 sq m; it is fully equipped with three slipways and is adjacent to a heavy fabrication area of 30,000 sq m.

Triyards Issue 121a

“TRIYARDS has been on a sustainable growth trajectory, especially since our listing in October 2012. We have developed a strong track record in delivering quality offshore vessels, and we are well known now in Asia for our liftboats. However, we are not content staying still – with the acquisition of Strategic Marine, we now venture into the Aluminium craft business,” explains Chan Eng Yew, CEO of TRIYARDS.

TRIYARDS further enhanced its reputation with the delivery of a multilay offshore construction vessel with ultra deepwater pipelaying and heavylift capabilities, the Lewek Constellation in late 2014. The ship boasts an overall length of 178.27 m, moulded breadth of 46 metres, moulded depth of 15.6 m and maximum draft of 10.5 metres; net tonnage capacity is 14,636 tonnes and gross tonnage capacity of 48,786 tonnes. Furthermore, the deck area is 4200 m2 and has a deck strength of ten tonnes for each square metre; the vessel is also equipped with a K-POS DP3 system that is integrated with position reference and environmental sensor systems. The Lewek Constellation has accommodation capacity for 239 people in one-berth cabins, with additional facilities including offices, recreation rooms, a gymnasium and smoking room.

Discussing the project, Chan states: “This unique project involved the construction of a one-off ice class multi-lay vessel over the period of 2009 to 2014. 2009 was the conceptualisation stage, with fabrication beginning six months later before delivery in December 2014. The Lewek Constellation, costing a total of $650 million, is the single most expensive vessel to ever be exported out of Vietnam.

“The challenges of developing such a unique ship are two-fold. For my predecessor, the former CEO, the challenge was not only building the vessel, but also dealing with the development of the yard at the same time. Another issue was that nothing in terms of magnitude of size or complexity had ever been attempted in Vietnam before so we needed to find the right supporting contractors to ensure the project was successfully brought to fruition.”

Proving itself wholly capable of handling the most complex of projects, Chan notes that TRIYARDS is currently riding a wave of successes with approximately $275 million worth of new projects announced since January 2015: “Predominantly these projects are for self elevating units, sometimes known as liftboats. We have delivered eight units and have another eight under construction at the moment, one of which, at 450 feet, has the longest legs in the world. In addition, we are involved in the construction of a pair of Ice-Class multipurpose support vessel for an Indian based client as well as the fabrication of a turret for an FPSO. Everything we build is built to order, due to the specialised and customised nature of the product, we don’t build speculatively.”

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Introduced to the market in 2013, TRIYARDS BH 450 design stands at approximately 450 feet and can operate in water depths up to 105 m; it can accommodate up to 250 personnel and is suitable for a broad range of offshore and renewable energy projects. Alongside the BH 450, the company has a range of specialised offshore vessel designs, including the TDU-400, a premium class 400 HPHT (high pressure, high temperature) jack-up drilling rig and the TSU 475, a thirdgeneration, high-specification liftboat.

Despite the impressive number of contracts under its belt, TRIYARDS is committed to continuous development and divestment of its services and, as such, acquired aluminium shipbuilding company Strategic Marine in October 2014. “This well-established shipbuilder was originally Australian owned but we have acquired the Singapore and Vietnamese subsidiaries. With Strategic Marine operating as part of TRIYARDS, we will be able to cover most of the materials used in any fabrication or shipbuilding activity; this is mainly in aluminium and steel, the only materials we don’t handle are composite materials such as fibre glass,” says Chan.

“With our fabrication capabilities in Vietnam increased by more than 15 per cent we are more than able to continue to capitalise on our track record and build specialised vessels for the oil and gas and renewable energy markets as well as industrial fabrication for power plants or offshore projects.”

Having secured a number of major contracts throughout 2015, TRIYARDS is certain to flourish as its continues to deliver rigorous standards in design, fabrication and safety that result in sophisticated engineering, fabrication and ship construction solutions.

TRIYARDS Holdings Limited

Services: Integrated service provider for the offshore, marine and industrial sectors

Issue 122 July 2015


TRIYARDS Holdings Limited