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Shipbuilding is a Leverage Point in South Korea's Trump Tariff Negotiations
South Korea and the United States havehttps://www.marinelink.com/news/hanwha-build-usflagged-lng-carrier-528214 been discussing a shipbuilding tie-up that could include investments to modernize U.S. shipyards and more help to repair the U.S. naval fleet as Seoul seeks better tariff terms, government and industry sources said.U.S. President Donald Trump, who has made revitalizing the aging U.S. shipbuilding industry a priority to keep up with China…
Hanwha Group gets Green Light to Increase Austal Stake
Hanwha Group received the OK from the U.S. Committee on Foreign Investment (CFIUS) to increase its shareholding in Australian shipbuilder Austal to 19.9% from the current 9.9%, the South Korean conglomerate said.Austal, which supplies defence vessels to the U.S. Navy, is seeking independent verification of this approval, according to a separate statement.Hanwha, which currently holds a 9.9% stake in Austal and holds a further 9.9% economic interest through a cash-settled total return swap…
Hanwha Aims to Buy a Piece of Austal
Korea's Hanwha aims to buy up to 9.9% of Australian shipbuilder Austal in an after-market offer following its failed A$1.02 billion ($646.17 million) takeover bid last year, a term sheet showed on Monday.Hanwha has offered A$4.45 each for 41.2 million Austal shares, showed the term sheet reviewed by Reuters.The deal's bookrunners, in a message seen by Reuters, told investors the books had been covered for the transaction.The Korean company does not intend to make a takeover bid for Austal "at th
Contract Signed to Build 130m ‘Hydrogen-Ready’ High-Speed Ferry
Austal Limited said that Austal Australasia has been awarded a contract valued between A$265 and A$275 million by Gotlandsbolaget of Sweden for the design and construction of a 130-m combined cycle, ‘hydrogen-ready’ vehicle passenger ferry. Part of Gotlandsbolaget’s ‘Horizon X’ program, the high-speed ROPAX catamaran will be the largest vessel ever constructed by Austal, and feature a unique, highly…
Rottnest Fast Ferries takes new 32m Vessel
Austal Philippines delivered a 32m catamaran to Rottnest Fast Ferries, less than 12 months after commencing construction in Balamban, Cebu.Dubbed Ocean Master and designed by Incat Crowther, was officially accepted by representatives from Rottnest Fast Ferries following the successful completion of sea trials in November 2024.President of Austal Asia, Wayne Murray said “The Austal Philippines team…
Has U.S. Shipbuilding Reached an ‘Atlas Shrugged’ Moment?
Each year, as we prepare for the largest U.S. based maritime industry conference in New Orleans, we tend to look back on the state of the industry and initiatives that were announced from the conference that took place the year before. 2023 provided us with plenty to talk about. In September of 2023, while the International Maritime Organization (IMO) and the global shipbuilding industry were fixated on “emissions” and alternative fuels, U.S.
African Maritime Security Takes Center Stage
Fincantieri, Vard Marine (VARD) and Sandock Austral Shipyards forged a partnership to build ships in Africa -- aiming to effectively reshape the African maritime security landscape -- a collaboration centered on the Afrika Offshore Patrol Vessel (VARD 7 055), a 53-meter patrol vessel tailored for the country's operating environment. The deal gives exclusive marketing and manufacturing rights for the VARD 7 055 to Sandock Austral Shipyards across sub-Saharan Africa.Image courtesy VARD
US Navy Orders Two More Landing Craft Utility Vessels from Austal USA
Mobile, Ala. shipbuilder Austal USA has been awarded a $54,997,317 fixed-priced incentive (firm-target) contract modification for the construction of two additional Landing Craft Utility (LCU) 1700-class vessels for the U.S. Navy.Austal USA was awarded an initial contract for the construction of three LCU 1700-class vessels, with options for an additional nine vessels, in September 2023. The potential…
Austal Delivers Latest Australian Navy Patrol Vessel
Australian shipbuilding group Austal announced it has delivered the seventh of 10 Evolved Cape-class Patrol Boats (ECCPB’s) it is building under contract to the Royal Australian Navy.Officially handed over at Austal’s Henderson, Western Australia shipyard, ADV Cape Solander is the first of two Evolved Cape-class Patrol Boats scheduled for delivery to the Royal Australian Navy in CY2024.“The Austal Australia team are continuing to demonstrate outstanding capability…
Austal Chairman John Rothwell to Retire, Richard Spencer Tapped as Successor
Shipbuilding group Austal on Thursday announced that its inaugural chairman, John Rothwell, is retiring from his position of Chairman of the company to serve on the Austal board as a non-executive director.Former U.S. Secretary of Navy Richard Spencer will replace Rothwell as Chairman, and will also join the board of Austal USA.Rothwell’s retirement as Chairman marks a significant milestone in the history of Austal, having served in the position for 37 years since he founded the company in 1987.
Austal Tallies Order for More Guardian-class Patrol Boats
Australian shipbuilder Austal announced that the Australian Government has ordered two additional Guardian-class Patrol Boats from Austal Australia, valued at approximately A$39 million.The 39.5-meter, steel-hull patrol boats, to be constructed at Henderson in Western Australia and scheduled for delivery in 2026, are in addition to the 22 Guardian-class Patrol Boats previously ordered by the Australian…
Austal Wins $516 Million US Navy Contract
Austal has secured a $516 million contract to construct the lead ship of the United States Navy's ocean surveillance program, T-AGOS 25, the Australian defence shipbuilder said in an exchange filing on Friday.The contract, announced on May 19, was originally for $113.9 million for a detailed design of the Auxiliary General Ocean Surveillance Ship T-AGOS 25 Class for the United States Navy, with options to design and construct up to seven such ships.On Friday, the United States Navy exercised its
Austal Vietnam to Build RoPax Vessel for The Degage Group
Austal Limited announced Austal Vietnam has been awarded a contract to design and construct a 71-meter roll-on-roll-off (RORO) passenger cargo vessel for The Degage Group of French Polynesia.The new steel monohull ferry design includes an aluminium superstructure accommodating up to 140 seated passengers and 17 crew, and features a main cargo deck area of 494 square meters; capable of transporting a combination of 10- and 20-foot containers…
Austal Awarded Contract for Two More Patrol Boat Builds
Shipbuilding group Austal Limited announces that Austal Australia has been awarded a contract extension for the construction of two additional Evolved Cape-class Patrol Boats for the Royal Australian Navy.The A$157 million contract follows the procurement announcement made by the Commonwealth of Australia (CoA) on November 23, 2023 and brings the total number of Evolved Cape-class Patrol Boats being delivered to the Navy…
Austal Delivers Patrol Boat for Papua New Guinea
Australian shipbuilding group Austal announced its Austal Australia arm has delivered the 17th Guardian-class Patrol Boat (GCPB) to the Australian Department of Defense. The vessel, HMPNGS Gilbert Toropo, was then gifted by the Australian Government to the Papua New Guinea Defence Force at a handover ceremony held at the HMAS Stirling naval base in Western Australia.The new Guardian-class Patrol Boat…
Austal Wins Landing Craft Utility Contract with U.S. Navy
Shipbuilder Austal USA was awarded a $91,535,551 fixed-price incentive and firm-fixed-price type modification to definitize a previously awarded contract for the detail design and construction of three Landing Craft Utility (LCU) 1700 class craft.The contract also includes options for nine additional craft and associated support efforts."Austal USA is honored to be able to build this important connector for the U.S. Navy,” commented Dave Growden, vice president of new construction projects.
U.S. Navy Shipbuilders & Disaggregated, Dispersed Production
With a lame-duck CNO, a divided Congress and the impending launch of the next Presidential election cycle, America’s naval market is locked into something of a fragile and fearful autopilot, cruising inexorably towards whatever excitement 2024 might bring.Materially, don’t expect much change: The demand for naval platforms will continue to outstrip available funding, meaning there will be little movement or growth in America’s major shipbuilding programs of record.
Austal Delivers High-speed Catamaran to Degage Group in French Polynesia
Austal Vietnam has delivered a new high-speed catamaran to the Degage Group of French Polynesia. The 66-meter Apetahi Express completed a series of sea trials off the coast of Vung Tau in May 2023 and is now preparing for its maiden voyage to French Polynesia. The ferry is anticipated to commence operations between Pape’ete (Tahiti) and Vaitape (Bora Bora) in French Polynesia in July 2023.The new Austal Passenger Express 66 catamaran features a length overall (LOA) of 66.4 meters…
Austal Launches High-speed Ferry for French Polynesia's Degage Group
Shipbuilder Austal Vietnam announced Wednesday that it has launched a new high-speed catamaran built at the company’s shipyard in Vung Tau for the Degage Group of French Polynesia.The 66-meter Apetahi Express is undergoing final fit-out, prior to sea trials which are due to commence in May. The vessel is scheduled for delivery in June 2023. The new ferry is anticipated to commence operations between…
Austal USA Christens the Future USS Kingsville
Mobile, Ala. shipbuilder Austal USA celebrated the christening of the future USS Kingsville (LCS 36) Independence-variant Littoral Combat Ship in a ceremony at the company’s Gulf Coast shipyard.The 18th LCS designed and constructed by Austal USA, Kingsville is planned for delivery in early 2024 and will be homeported in San Diego, Calif. LCS 36 is the first U.S. Navy ship named for Kingsville.Independence-variant Littoral Combat Ships are fast…
