Austal (ASX:ASB) to construct $136 million catamaran

Company News

by Katrina Bullock

Ship manufacturer, Austal (ASX:ASB) has penned a contract for the design and construction of a 115 metre, high-speed catamaran for Molslinjen of Denmark.

This follows the delivery of a 109 metre high-speed catamaran delivered to Molslinjen in January.

The contract is valued at $136 million. This will be the largest ferry (by volume) ever built by Austal.

Construction will commence in the third quarter of 2020 and delivery of the vessel will be in the first quarter of 2022.

The catamaran will have capacity for over 1,600 passengers and space for 450 cars.

Shares in Austal (ASX:ASB) are trading 2.7 per cent lower at $3.96

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.