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Taiwan state-owned oil and gas company, Chinese Petroleum Corporation (CPC Corporation), has secured contracts with Singapore-listed Triyards Holdings Ltd for the construction of two oil barges worth NTD 716 million (equivalent to approximately about US$21.82 million).

The new contract deals are for the construction of a pair of oil barges intended for coastal service and the supply of bunker fuel to vessels in Taiwan's harbour and coastal areas. They are scheduled to be delivered in the second quarter of 2018.

Commenting on the news, Mr. Chan Eng Yew, Triyards' chief executive officer, said: "This attests to our continued efforts to diversify our order book beyond the traditional O&G sector. Not only have we broadened our product range but we have also added another blue-chip name to our growing pool of clients."

"With our flexibility in engineering and fabrication solutions, TRIYARDS is well positioned to address opportunities beyond the O&G sector."

Singapore-headquartered Triyards Holdings provides integrated engineering, fabrication and ship construction solutions for the global offshore and marine industries with a focus on shipbuilding and ship conversions. The company currently owns and operates yards in Ho Chi Minh City and Vung Tau in Vietnam, as well as design and engineering facilities in Houston in the United States and Singapore.

State-owned CPC is the leading supplier of marine fuel in Taiwan. It supplies bunker fuel in all the country's key ports, including Kaohsiung, Taichung, Keelung, Hualian and Suao.

Bunker prices for ports in Taiwan and East Asia can be found by clicking on the link below.

http://www.bunkerindex.com/prices/easia.php