Your journalist would prefer to be on the sandy white beaches of Tahiti right now, sipping a cool mojito and sizzling in the sun.
But, with a long expired passport that won’t be renewed anytime soon, I’m bound to my inner city apartment.
Teasing me, and those locked down across the country is Austal Limited (ASX: ASB). The Company has been awarded a contract to build a boat for a business based in French Polynesia. About the closest we are all getting to a tropical paradise at the moment.
Australia’s largest defence exporter and first ASX-listed shipbuilder, Austal is a global player in the maritime industry having contracted more than 340 vessels over the last 30 years. Their experience in the field is endorsed by the US Navy with Austal being the only foreign owned prime contractor for the construction and design of naval ships.
The Degage Group of French Polynesia has engaged Austal to build a 66 metre high-speed catamaran for $32.8 million. The Group provides transport, logistics and tourism services to the islands within the region and has had Austal build 5 of the boats in their fleet already.
The new addition will be able to accommodate 574 passengers. Work is set to start this month at Austal’s Vietnam shipyard and is scheduled for completion and delivery in the first half of 2023.
CEO of Austal, Paddy Gregg said: “Over the past two decades The Degage Group has trusted Austal to design and construct five ships for their growing maritime and tourism operations in French Polynesia, and we’re delighted they have again chosen Austal to develop their latest high-speed ferry.
“The Degage Group is an acknowledged leader in commercial maritime transportation and tourism. This contract is a clear demonstration of confidence in our Vietnam shipyard, which recently delivered its second commercial ferry within a period of just two years.”
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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