Austal to Build Two High Speed Ferries for ADNOC
- Business & Finance
Austal Limited (Austal) has been awarded a contract from the Abu Dhabi National Oil Company (ADNOC) to design and construct two 45 metre high speed catamaran ferries.
The contract is valued at approximately $30 million.
The high speed ferries will be designed and constructed at Austal’s Philippines shipyard. Construction will commence in the current quarter, with both vessels expected to be delivered in 2015.
The high speed ferries will be used to transfer cargo, personnel, and equipment to ADNOC offshore oil and gas installations.
Austal Chief Executive Officer Andrew Bellamy said: “Given the subdued commercial ferry market, we have repositioned our commercial business to be more competitive and target sectors that will deliver value from the depth of knowledge Austal has in designing and constructing these vessels.”
“Expanding into the Philippines was a key step in increasing competitiveness and we have enhanced this through the ongoing transfer of technology to the shipyard.
“We also identified new and emerging markets such the Middle East and the energy sector as key targets to drive value from the shipyard,” Mr Bellamy said.
Austal, April 9, 2014