Austal (ASX:ASB) subsidiary delivers 94-metre maritime carrier vessel

• Austal’s (ASB) subsidiary, Austal Vietnam, has successfully delivered a 94 metre catamaran to Trinidad and Tobago
• This catamaran, named A.P.T James, is the first vessel to be fully constructed at the Vung Tau shipyard in Vietnam
• It was designed at Austal Australia and will be used for maritime transport services between the islands of Trinidad and Tobago
• The Catamaran has the capacity to seat 926 passengers and hold 250 cars and includes an advanced Motion Control System which reduces vessel motion
• Austal Vietnam is now progressing well for its next project, a 41-metre high catamaran ferry for SGTM Mauritius, due for delivery in the first half of 2021
• Austal has ended the day a slight 0.37 per cent in the green with shares trading for $2.74 each

Austal’s (ASB) subsidiary, Austal Vietnam, has successfully delivered a 94-metre catamaran to Trinidad and Tobago.

This catamaran, named A.P.T James, is the first vessel to be fully constructed at the Vung Tau shipyard in Vietnam.

The A.P.T James is named after the Tobago-born politician, Alphonso Philbert Theophilus James, who is best known for the political, social, and economic development of Tobago.

This catamaran ferry was designed at Austal Australia and will be used for maritime transport services between the islands of Trinidad and Tobago.

The vessel has a capacity to fit 926 passengers, 250 cars and can travel at speeds up to 37.5 knots.

It also features the latest in Austal’s ‘smart ship’ technology, including an advanced Motion Control System which reduces vessel motion.

“This is an outstanding achievement for both Austal Vietnam and the Austal Group as we continue to focus and consolidate our defence and commercial vessel capabilities in strategic locations throughout Australasia,” CEO David Singleton said.

“Austal Vietnam is now clearly a valuable asset in our commercial vessel shipbuilding network, building upon and complementing the growing capability in the Philippines, while also freeing up capacity in our Australian shipyard for additional defence contracts for the Royal Australian Navy and export markets,” he added.

Austal Vietnam is now progressing well for its next project, a 41-metre high catamaran ferry for SGTM Mauritius, due for delivery in the first half of 2021.

Austal has ended the day a slight 0.37 per cent in the green with shares trading for $2.74 each in a $981.5 million market cap.