Austal books $34 million Fast Crew Boat contract

JUNE 3, 2015 — Austal Limited (ASX:ASB) reports that it has entered into a $34 million contract with Caspian Marine Services Limited of Azerbaijan to construct one 70 m Fast Crew Boat.

The 30 knot, 150 passenger catamaran is to be jointly built in Austal's Philippines and Henderson, Western Australia, shipyards with delivery expected in Australia in Q3 CY2016.

Caspian Marine Services Limited operates a fleet of offshore marine support vessels, serving the offshore oil and gas exploration and production industry in the Caspian Sea region.

The 70 m Fast Crew Boat will transport crew and cargo to offshore platforms, operated by the State Oil Company of Azerbaijan (SOCAR) and BP

Austal Chief Executive Officer Andrew Bellamy said the contract is another significant milestone in Austal's penetration into the offshore crew boat market.

"The award reinforces Austal's continuing leadership in high speed aluminum vessel construction and is a great opportunity to further mature the integration of our supply chain between our Philippines and Henderson operations," Mr. Bellamy said.

The contract follows an order two 45 m Crew Transfer Vessels for the Abu Dhabi National Oil Company (ADNOC), currently under construction in Austal's Philippines shipyard.-

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