Loaded orderbook is Triyards’ ticket for guaranteed earnings visibility until 2017: analysts

Its orderbook of US$564m will do the heavy lifting.

A flurry of new contract wins has bolstered Triyards’ orderbook enough that it has essentially guaranteed its earnings for up to the end of 2017.

According to analysts from UOB Kay Hian, the orderbook includes the additional US$80m of contracts announced between November and December last year.

UOB Kay Hian adds that this implies a US$27m orderbook burn per month, meaning Triyards has earnings visibility for 21 months.

“The contracts were all with new clients, displaying Triyards’ hallmark dynamic attribute. This included four escort tugs for Greenbay Marine, one Research Vessel for Taiwan Ocean Research Institute, two oil barges for CPC Corporation and three aluminum vessels to unspecified clients,” UOB Kay Hian said.