Triyards, Emas Offshore bag new orders but post muted Q3 results

Singapore

THE two Singapore-listed subsidiaries of offshore services group Ezra Holdings have announced new contract wins while posting subdued third-quarter results amid ongoing softness in the energy industry.

Triyards, Ezra's fabrication arm, said on Tuesday that it had bagged two orders for large liftboats worth US$175 million in total. This reflected growing demand for this vessel type, Triyards chief executive Chan Eng Yew said in a statement. Liftboats, which are self-propelled, are used in the production stage of the oil and gas supply chain in shallow waters.