Austal starts delivery of huge ferry to Denmark

Company News

by Rachael Jones

Shipbuilder and defence contractor Austal (ASX:ASB) has officially started the delivery of the largest commercial ferry by volume they have ever built at its shipyard in Henderson in Australia to Denmark.

Official delivery triggers the final $20 million-plus payment on the vessel, which was built on budget.

Construction of the $109 million vehicle passenger ferry, to be named ‘Express 4’, started in 2017 for Molslinjen using an enhanced design with a new optimised hull shape and vessel weight minimisation solution to deliver better performance and greater fuel efficiency.

The 109 metre vessel is capable of transporting more than 1,000 passengers and 425 cars.

The official delivery marks the start of a 27-day voyage from Henderson to its home port in Odden in Denmark, via Sri Lanka, the Suez canal and Malta.

Austal (ASX:ASB) shares closed 1.46 per cent lower to $2.02.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.