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An artist s impression of Austal s first joint high-speed vessel.
An artist's impression of Austal's first joint high-speed vessel.

UPDATE 1.20pm: Austal says its third joint high speed vessel, USNS Millinocket, has completed US Navy acceptance trials, the last significant milestone before delivery of the vessel.

The trials of USNS Millinocket in the Gulf of Mexico involved the performance of intense, comprehensive tests of the ship's major systems and equipment.

Austal chief executive Andrew Bellamy said the vessel had performed exceptionally well in the trials and was expected to be delivered to the US Navy later this month.

The USNS Millinocket is the third joint high-speed vessel built by Austal as prime contractor under a 10-ship, $1.6 billion contract.

Earlier this week, Austal's fourth joint high-speed vessel, the USNS Fall River, was officially christened by the wife of the Governor of Massachusetts, Diane Patrick, at the company's US shipyard in Mobile, Alabama.

Austal shares closed up one cent, or 1.15 per cent, at 88 cents.