Austal Australasia, a subsidiary of Austal Limited (ASX: ASB), has been awarded a contract valued between $265 million and $275 million by Gotlandsbolaget of Sweden to design and construct a 130-metre, hydrogen-ready high-speed catamaran.
The vessel, part of Gotlandsbolaget’s Horizon X program, will be the largest ever built by Austal and the first high-speed craft to feature a combined cycle propulsion system using both gas and steam turbines. It will have the capacity to transport up to 1,500 passengers, cargo, and 400 vehicles.
Construction is set to commence at Austal’s Philippines shipyard in the first half of 2026, with completion scheduled for mid-2028. The ship will be built using aluminium produced through energy-efficient processes that generate lower carbon emissions.
Austal Limited CEO Paddy Gregg described the project as a major advancement in commercial ferry capabilities.
“Horizon X is an incredibly exciting project that is going to redefine commercial ferry capabilities, with a multi-fuel and hydrogen-capable combined cycle powerplant and a class-leading, efficient hull design,” Gregg said.
Gotlandsbolaget CEO Håkan Johansson highlighted the vessel’s sustainability credentials.
“Horizon X is not only designed for speed and efficiency but also for sustainability, as it incorporates cutting-edge green technology, including a hydrogen-ready, highly efficient gas turbine propulsion system,” Johansson said. “This vessel is a key step in our strategy to achieve climate-neutral operations, utilising lightweight green aluminium and advanced hydrodynamic design to minimise fuel consumption and emissions.”
Austal and Gotlandsbolaget first announced plans for the 130-metre ferry design in April 2023. Since then, the companies have worked with technology providers to select preferred equipment and define system arrangements. The vessel’s propulsion system has been designed to repurpose engine exhaust to enhance propulsion efficiency and reduce emissions.
In October 2024, the project received approval in principle from DNV, confirming compliance with international safety regulations for gas-fuelled ships.
The Horizon X project represents a key milestone in Gotlandsbolaget’s goal of climate-neutral shipping and expands Austal’s portfolio of advanced shipbuilding projects.
