Austal shares drop after it announces deal with Swedish ship operator
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The news: Austal Australasia has been awarded a contract by Swedish ship operator Gotlandsbolaget to construct a “hydrogen-ready” passenger ferry.
The numbers: The contract is valued between $265 million and $275 million.
Austal’s shares were down 1.55% to $3.82 by 12:30pm AEDT. Over the last 12 months it has surged 79%.
The catamaran, Horizon X, will be the largest vessel ever constructed by Austal with the capacity to transport up to 1,500 passengers, cargo and 400 vehicles.
The context: Austal noted that it would use “green aluminum" to construct the vessel and would use energy efficient processes and technologies that used less carbon. It is expected to complete construction by mid-2028.
What they said: Gotlandsbolaget chief executive, Håkan Johansson said: “This vessel is a key step in our strategy to achieve climate-neutral operations, utilising lightweight green aluminium and advanced hydrodynamic design to minimise fuel consumption and emissions.
“Serving the island of Gotland and the (Swedish) mainland in a climate and environmentally responsible way is at the heart of our mission, and Horizon X represents a significant milestone in that journey.”
The source: ASX announcement
