Austal delivers on $16m contract in South Korea

Company News

by Jessica Amir

Austal Limited (ASX:ASB) has delivered a 50 metre high-speed passenger ferry to Seaspoville, marking its first ever delivery to South Korea.

The Australian Shipbuilder's $16 million all aluminum catamaran, known as Seastar 11 was formally requested in a contract in June 2016.

It’s also the 13th vessel it constructed at its Philippines shipyard in the last 5 years.

The company says the contract proves it’s a world leader in the internationally competitive commercial vessel market.

Shares in Austal Limited (ASX:ASB) are 0.85 per cent higher to $1.78.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.