Austal Secures New Contracts

Tuesday, October 16, 2001
Dinner Cruise Catamaran for Operation in Miami. Austal Limited announces that subsidiaries, Austal Ships and Austal USA have each secured contracts for new vessels.

The new orders are a strong endorsement of the world-renowned reputation of Austal’s design and construction capabilities that cover a range of vessel types and sizes, customized to individual operational requirements.

Commenting on the two contracts, Austal’s Managing Director, Mr Bob McKinnon said, “these contracts further highlight the success of Austal’s diversification strategy.”

“Each contract was secured through a very competitive process and Austal’s attention to quality and the ability to deliver vessels tailored to suit the clients’ requirements has ensured our continued success. The Austal Group now has in excess of twelve vessels under construction ranging from small river catamarans to large vehicle-passenger ferries, a very positive outlook”, Mr McKinnon said.

The new contracts comprise an order for three 47.5m passenger catamarans for New World First Ferry of Hong Kong, with an option for a further four vessels on completion of the first three. The Hong Kong contract re-introduces Austal into the Hong Kong market with one of the largest ferry operators in the Asian Pacific region. The contract provides Austal with the opportunity to reinforce the company’s position in this market, a position established through long-term relationships and the delivery of over 29 catamarans to operator, Yuet Hing in Hong Kong during the 1990’s.

Due for delivery in October 2002, the three passenger catamarans will have the capacity to carry 416 passengers and will operate between Hong Kong and Macau at a speed of approximately 42 knots.

Austal USA has signed a contract for a 34m dinner cruise vessel with the well-established and highly respected Island Queen Cruises of Miami, Florida.

For Austal USA, the dinner cruise contract illustrates the broad product base offered by the US shipyard and will assist in establishing Austal USA as a premier supplier of aluminum vessels in the US. The new order increases Austal USA’s production to four vessels, adding to the two 150ft crew-supply vessels and the 82ft passenger catamaran currently under construction.

Due for delivery in November 2002, the dinner cruise catamaran will operate in the Miami and Biscayne Bay area, offering a variety of charter options appealing to corporate and large private groups.

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