Austal Wins USD 584.2 million US Navy Contract
Australian shipbuilder Austal has won a $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported. The contract includes associated LCS class services and related material and integrated data environment support, as well as options for the construction of additional LCS, class services and post-delivery availability support, the Pentagon said in a statement. Australian Associated Press added quoting Asutal that the 127-metre LCS28 will be built at its shipyard in Mobile, Alabama, employing techniques that would be applied if it wins the Australian government's $3 billion Offshore Patrol Vessel contract.
750 Strike at Australian Shipbuilder Forgacs
At least 750 workers at a shipbuilding company elected to strike today at Fogracs in an effort to obtain better working hours and conditions, the Australian Associated Press reported. The workers reportedly set down their tools and closed up shop from 11:30 a.m.-3:30 p.m. and 7:30 p.m.-11:30 p.m. (AEST) at Fogracs four sites in Newcastle, while work stoppages also occurred at the company's smaller sites in Sydney and Brisbane. Source: AAP, Staff
Adsteam Considers Expansion
According to an Australian Associated Press report, maritime services company Adsteam Marine Ltd is considering expanding operations into Asia and mainland Europe as part of its growth strategy. The firm was now considering expanding its existing markets as well as looking at new acquisitions since restructuring the business over the last two and a half years, according to the report. Adsteam - which operates more than 200 tugboats, barges, workboats and launches - earlier told shareholders at its annual general meeting that it expects net profit to be in the range of $42 million to $46 million this year. Last year the firm booked a $38 million net profit after adjusting for new international accounting standards.
