Austal in $30m ferries deal
Austal has been commissioned to build two ferries for a Middle East oil and gas company for $30 million.
The 45-metre high speed catamaran ferries will be designed and constructed at Austal's Philippines shipyard.
Construction will begin this quarter, with both vessels expected to be delivered in 2015. The customer is Abu Dhabi National Oil Company (ADNOC).
The ferries will be used to transfer cargo, personnel, and equipment to ADNOC's offshore installations.
Austal chief executive Andrew Bellamy said the contract fitted the shipbuilder's strategy of targeting commercial vessel opportunities in the oil and gas market.
"Given the subdued commercial ferry market, we have repositioned our commercial business to be more competitive and target sectors that will deliver value," Mr Bellamy said.
"Expanding into the Philippines was a key step in increasing competitiveness and we have enhanced this through the ongoing transfer of technology to the shipyard," he said.
He said new and emerging markets such as the Middle East and the energy sector were key targets to drive value from the shipyard.
Austal moved commercial shipbuilding from WA to the Philippines in 2012. It focuses on defence vessels at its Henderson facilities.
