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Marine Log

January 29, 2008

Austal books $73 million ferry order

Austal has signed a contract for four additional 47.5 meter passenger catamarans with Cotai WaterJets (Macao) Ltd, adding to the initial ten-vessel contract signed in 2006 by sister company Venetian Marketing Services Limited (VMSL).

Valued at approximately Australian $82 million (about US $73 million), the new vessels will be identical to those currently under construction at Austal's Henderson, Western Australia, shipyard and will be delivered in the first half of 2009.

Completion of the entire 14-vessel order will see the number of Austal vessels delivered to China / Hong Kong waters grow to 52, reinforcing Austal's success in the region.

Commenting on the order Executive Chairman, John Rothwell said "It is a pleasing start to the year to see the Cotai WaterJet order expand to 14 ferries based on the success of the initial deliveries already operating between Hong Kong and Macau."

Of the initial ten vessels ordered by VMSL in 2006, five have already been completed, with the construction of two catamaran ferries for another Hong Kong operator continuing at Austal's shipyard in Tasmania, Australia.

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