WaveMaster International has won a contract for ten 118 ft. (36 m) high-speed aluminum monohull ferries for delivery to Singapore. With firm contracts for the initial six vessel order already placed, financing has been arranged through Singapore-based Caterpillar Credit Services Asia, a subsidiary of Caterpillar Financial Services. Both the shipyard and purchaser have signed options for the remaining four vessels included in this innovative project. The WaveMaster design team developed this monohull directly in sync with stringent safety requirements of the High Speed Craft Code, as set out by the International Maritime Organization (IMO) and Singapore Marine Authorities. Estimated design and build time is nine months for the initial six vessel order. Hulls and superstructures will be built in separate halls to speed up construction, although the real key to speed of production is WaveMaster's 3-D Unigraphics design solution. This innovation, which is used traditionally in the production of motor vehicles and aircraft - produces a solid model of the vessel - allowing customers to gain a realistic insight of WaveMaster's design. This ensures that everyone involved fully understands the design before construction - virtually avoiding costly delays caused by rework. Expected to revolutionize fast ferry travel between Singapore and Indonesia's Rau Islands, the 10-vessel fleet is scheduled for delivery in early 2001.