Austal Limited has announced being awarded a $30 million contract from the Abu Dhabi National Oil Company (ADNOC) to design and construct two 45 metre high speed catamaran ferries, which will be used to transport cargo, personnel and equipment to ADNOC offshore installations.
According to the ASX announcement by Austal, the high speed ferries will be designed and constructed at the company’s shipyard in the Philippines, with both vessels expected to be completed in 2015.
Austal Chief Executive Officer Andrew Bellamy expressed his delight at winning the contract, saying it was in line with the company’s strategy of targeting commercial vessel opportunities in the oil and gas market.
“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 as the Middle East and the energy sector as key targets to drive value from the shipyard,” Mr Bellamy said.
“This contract is very pleasing as it demonstrates Austal’s ability to use our deep know-how and competitive position to win work in this target market. It also illustrates the confidence that ADNOC has in Austal and our shipbuilding facilities in the Philippines, which has been earned through a competitive tendering process and backed up by several successful recent deliveries from Austal’s Philippines shipyard.”
ADNOC is one of the world’s biggest oil and gas companies, with substantial business interest in upstream and downstream activities. It was established in 1971 and has since broadened its activity in establishing companies and subsidiaries and creating an integrated oil and gas industry in the fields of exploration and production, support services, oil refining and gas processing, chemicals and petrochemicals, maritime transportation and refined products and distribution.
Austal is a global defence prime contractor and a designer and manufacturer of defence and commercial ships. For more than 25 years, Austal has been a leader in the design, construction and maintenance of revolutionary ships for Governments, Navies and Ferry operators around the world, and has delivered more than 250 vessels during that time.