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 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.