Austal wins contract to build two more Pacific Patrol Boats

APRIL 19, 2018 — Austal (ASX: ASB) yesterday confirmed a contract for two Guardian Class Patrol Boats (Pacific Patrol Boats) for Timor Leste. The additional contract is worth A$29.7 million (about US$23 million) and increases the total program from 19 to 21 vessels.

Austal was awarded the original 19 vessel contract in May 2016, taking the shipbuilder’s Henderson, Western Australia, shipyard into the construction of steel patrol vessels.

Under the Pacific Patrol Boat program, Australia provides Australian-built patrol boats to Pacific island countries to enable them take an active part in securing their own extensive Exclusive Economic Zones

“The first PPB is on schedule for launch at the end of May with construction of the following two vessels already well underway with the fourth vessel commencing construction in June,” Austal CEO, David Singleton said. “We are working on other export opportunities for the Guardian Class Patrol Boat thereby helping Australia sustain its sovereign naval shipbuilding industry which has already delivered over 40 patrol boats to international customers,”