Triyards announces termination of shipbuilding contracts

Triyards Holdings Limited has announced that its wholly owned subsidiary, Saigon Offshore  Fabrication and Engineering Limited (“SOFEL”), has received notices of termination of the two shipbuilding contracts dated 26 June 2015 and the addendum dated 10 May 2017  for the design and construction of two units of chemical tankers  of an aggregate contract value of US$51  million from the purchaser of the chemical tankers. The buyer has claimed for  the reimbursement  of all sums paid by the buyer in advance on account of  the contracts  in  an aggregate amount of US$ 10.2 million.