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 is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.