Austal, Cerberus Mull JV on Hanjin's Philippine Yard
Australian shipbuilder Austal Ltd and U.S. private equity firm are considering a joint bid for a strategically located but debt-laden Philippine shipyard, the facility's trustee said on Wednesday.Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in January defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Austal and Cerberus are interested in the distressed shipyard…
Austal Rises on U.S. Contract Win
Shares of ship builder Austal Ltd rise as much as 4.6 pct to A$1.940.Austal said that it has a news contract from the U.S. Department of Defense to build two more Littoral Combat Ships (LCS), bringing the total new LCS orders booked in 2018 CY to four ships. Reportedly, the new award is under the congressional cost cap of $584 mlnSeparately, the Commonwealth Bank of Australia will fund Republic of Trinidad & Tobago with a loan of A$80 mln ($57.40 mln) to assist it to purchase…
Austal Cyber Hack Probe May Take Years
Australia's chief cyber security chief said on Tuesday an investigation into the hacking of defense contractor Austal Ltd could take years, rejecting a local media report that his agency had concluded the attack originated from Iran.Austal said earlier this month hackers had breached its defenses to gain access to ship designs and that some staff email addresses and mobile phone numbers were accessed.The attack triggered an investigation by the Australian Cyber Security Centre (ACSC), the country's top cyber security unit.
Shipbuilder Austal Reports Data Breach
Shipbuilder Austal Ltd said on Thursday its Australian business had detected and responded to a data breach in which some staff email addresses and mobile phone numbers were accessed.The breach, which affected the company's data management systems, has had no impact on Austal's ongoing operations, it said in a statement.The attacker tried to sell certain materials on the internet and engage in extortion. However, the company does not intend to respond to such threats, Austal said."There…
Austal Climbs on Strong H1 Profit
Shipbuilder Austal Ltd shares have risen as much as 4.5 percent to A$1.85, its highest since February 1. The company's H1 net profit after tax has surged 174 percent, driven by strong performance in shipbuilding programs for U.S. Navy. Over 900,000 shares have changed hands, compared with the 30-day average of 229,350 shares The stock is among top percent gainers on the ASX All Ordinaries Index.
Pentagon to U.S. Navy: Buy fewer LCS Ships, More Planes
Defense Secretary Ash Carter ordered the U.S. Navy in a sharply worded memo this week to buy 12 fewer small littoral combat ships (LCS) and more fighter jets, electronic warfare equipment and other weapons in the upcoming budget year instead. If approved by Congress, the changes would have a huge impact on many big weapons makers, including Lockheed Martin Corp and Australia's Austal Ltd, which would have to compete to build eight remaining LCS ships in fiscal 2019. The Navy had been buying ships in recent years "at the expense of critically-needed investments in areas where our adversaries are not standing still, such as strike, ship survivability, electronic warfare and other capabilities," Carter said. A copy of the memo, first reported by Defense News, was seen by Reuters.
Lean Manufacturing Transforms Maker of US Navy Warships
Big investments, lean manufacturing techniques borrowed from the automotive industry, and a more engaged workforce have revamped the Wisconsin shipyard where Italy's Fincantieri SpA builds the Freedom variant of the U.S. Navy's coastal warships for prime contractor Lockheed Martin Corp. Fincantieri invested $100 million in recent years to transform the 1940s era shipyard into a state-of-the-art facility, where seven LCS ships are now under construction, including three that have already been launched into the river.
Lockheed Welcomes US Plan to Use Its Combat System for Frigates
Lockheed Martin Corp on Friday welcomed the U.S. Navy's decision to use Lockheed's integrated combat system for future frigate-class ships to be built beginning in fiscal 2019, saying it would allow greater commonality across the entire Navy fleet. "It's great news," Joe North, vice president of Littoral Ships and Systems at Lockheed, told Reuters in a telephone interview. Neither the Navy nor Lockheed provided an estimate for the value of the combat system, but North said each system accounted for less than 10 percent of the cost of the ship.
U.S. Navy awards contracts to Lockheed, Austal for 4 more ships
The U.S. Navy has awarded contracts worth nearly $1.4 billion to buy four more Littoral Combat Ships from Lockheed Martin Corp and Australia's Austal Ltd, the U.S. Defense Department said on Monday. Lockheed won a contract valued at $699 million to build two more of its steel monohull-design ships, while Austal won a contract worth $684 million to build two more of its aluminum trimaran design, the Pentagon said in its daily digest of major weapons contracts. Lockheed welcomed the contract…
Quest for More Lethal U.S. Warship Could Raise Cost
Defense Secretary Chuck Hagel's decision to stop building the current class of coastal warships after 32 vessels and focus on ships with more firepower and protection will result in higher costs, U.S. defense officials said on Monday. Hagel said that given the new threats, he had "considerable reservations" about building all 52 coastal warships as planned, which would account for one-sixth of the future 300-ship Navy. "I recognize the importance of presence, which is tied to the number of ships.
U.S. Navy Urges Senate to Approve LCS Plan
According to a Dec. 14 report from Reuters, four top U.S. Navy officials appeared at a hastily arranged Senate hearing to press for approval of a $9.8b plan to buy 10 new coastal warships each from both Lockheed Martin Corp (LMT.N) and Australia's Austal Ltd (ASB.AX), instead of selecting just one. (Source: Reuters)
LCS 2 Christened
The General Dynamics Littoral Combat Ship Team (GD LCS Team) christened the LCS 2 Independence October 4, on the waters of the at the Austal USA shipyard. Present at the Christening Ceremony were over 1,000 guests and dignitaries. The Ship Sponsor was Doreen A. Scott, wife of the 10th Master Chief Petty Officer of the Navy, Terry D. Scott. She was joined by her daughter, Maid of Honor, Lauren A. Scott, but her daughter, Matron of Honor Ensign Lindsay Fatz, USN, was out of the country on orders.
Austal USA Secures Candies Vessel Duo
Austal Ltd. has reported that its U.S. operation, Austal USA, has secured a two vessel order for the construction of 150 ft. (45.7 m) aluminum crew supply vessels to operate in the Gulf of Mexico. The vessel pair, which has been ordered by Otto Candies of Des Allemands, La., is scheduled for delivery in early 2002. This new order adds on to the current 82 ft. (25 m) high speed passenger catamaran that Austal USA is constructing for an unnamed owner. The monohull designed vessels will be used to service the offshore industry in the Gulf of Mexico. Operating at a speed of 26 knots, each will house two forward cabins on the main deck to provide seating for 80 passengers; the vessels' aft cargo deck has been designed to carry up to 150 long tons of cargo.
Austal USA to Build Two Supply Vessels for Candies
Austal USA, the joint venture company of Australia's Austal Ltd. and Bender Shipbuilding & Repair, has secured a two-vessel order for the construction of 150 ft. aluminum crew supply vessels to operate in the Gulf of Mexico. The vessel pair, which has been ordered by Otto Candies of Des Allemands, La., is scheduled for delivery in early 2002. This new order adds on to the current 82 ft. high-speed passenger catamaran that Austal USA is constructing for an unnamed owner. The monohull designed vessels will be used to service the offshore industry in the Gulf of Mexico. Operating at a speed of 26 knots, each will house two forward cabins on the main deck to provide seating for 80 passengers; the vessels' aft cargo deck has been designed to carry up to 150 long tons of cargo.
Austal Opens New U.S. Shipbuilding Facility
On November 17, Mobile, Alabama-based Austal USA celebrated the grand opening of its new construction facility with a ribbon-cutting ceremony. This event took place just 11 months to the day after breaking ground on the project on January 17, 2005. Several notable VIPs participated in the ceremony, including: State of Alabama Director of Development Neal Wade, Mobile County Commission President Mike Dean, Mobile Mayor Sam Jones, John Rothwell (Austal Ltd. Executive Chairman), Greg Metcalf (CEO, Austal USA), Tom Bender (CEO, Bender Shipbuilding & Repair Co., Inc.) and Henry Seawell (CEO, Thompson Engineering, the company that was contracted for the design and construction of the expansion).
Lerchbacker Leads Austal USA to the Top
When Austal Ltd. of Henderson, Western Australia, started looking last year for a CEO to lead its U.S.-based operations, the job description must have been daunting. They wanted a leader to take the helm of their newly built shipyard in Mobile, Ala., and turn it into a major contractor for both military and commercial vessels in the United States. Austal had recently entered the U.S. market for the first time, intent on competing with higher-profile rivals such as Incat/Bollinger, Derecktor Shipyards and Kvaerner. The company settled on Alan Lerchbacker, 50, an energetic former Navy Aquanaut with a business background, who took the position in February 2002. Lerchbacker had never heard of Austal until a headhunter contacted him.