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 bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.