Triyards bags US$21.82m orders from Taiwan's CPC

OFFSHORE marine and engineering firm Triyards has clinched contracts worth NT$716 million or about US$21.82 million from a Taiwan state-owned oil and gas company, it said in a Singapore Exchange filing on Wednesday morning.

The contracts from CPC Corporation, a new client for Triyards, are for the construction of a pair of oil barges to be delivered in Q2 FY2018, Triyards said.

CPC is responsible for supplying energy to its domestic market. The barges are meant for coastal service and the supply of bunker fuel to vessels in Taiwan's harbour and coastal areas, Triyards said.

Triyards chief executive officer Chan Eng Yew said in a statement that the contract wins attest to the group's efforts to diversify its orderbook beyond the traditional oil and gas sector.