Austal Limited (ASX:ASB) Secures A$275 Million Ferry Contract
Contract Award
Austal Limited (ASX:ASB) has been awarded a contract valued between A$265 and A$275 million by Gotlandsbolaget of Sweden. The contract involves the design and construction of a 130-metre combined cycle, hydrogen-ready passenger ferry as part of Gotlandsbolaget’s Horizon X program.
Ferry Specifications
The Horizon X will be Austal’s largest vessel ever constructed, featuring a unique combined cycle propulsion system with both gas and steam turbines. The high-speed ROPAX catamaran can transport up to 1,500 passengers, cargo, and 400 vehicles. Construction will commence in the first half of CY2026 at the Austal Philippines shipyard, using green aluminium to reduce carbon emissions. Completion is scheduled for mid-2028.
Executive Comments
Chief Executive Officer Paddy Gregg stated, “Horizon X is an incredibly exciting project that is going to re-define commercial ferry capabilities, with a multi-fuel and hydrogen-capable combined cycle powerplant and a class-leading, efficient hull design. The flexible fuel technology demonstrated in Horizon X is leading the transition to decarbonisation of commercial ferries, and we’re proud to be at the forefront, partnering with Gotlandsbolaget, to deliver this industry-leading new ferry. Austal is committed to delivering a high-speed catamaran that represents a significant step towards climate-neutral emission targets while providing an exceptional passenger experience.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Austal. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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