AUSTAL’S TENTH CAPE CLASS PATROL BOAT OFFICIALLY NAMED CAPE INSCRIPTION

NEWS RELEASE

6 JUNE 2017

Austal Limited (ASX:ASB) today joined the Royal Australian Navy in celebrating the official naming of the tenth Cape-class patrol boat at a ceremony held at the HMAS Stirling naval base in Western Australia.

Australian Defence Vessel (ADV) Cape Inscription is the second Cape-class patrol boat designed and constructed by Austal for the Royal Australian Navy (RAN) as part of a A$63 million contract.

This delivery marks the tenth successful delivery by Austal of a Cape-class patrol boat for the Commonwealth’s use.

The naming ceremony at HMAS Stirling was attended by Captain Jason Hunter, representing the RAN Fleet Commander; and Patrick Gregg, Austal’s Chief Operating Officer and Ben Wardle, Austal’s Head of Programs.

"Austal is delighted to deliver Cape Inscription, the second of two Cape-class patrol boats for the Royal Australian Navy, with both completed the on-time and on-budget” Patrick Gregg said.

“Austal is particularly proud of the proven Cape-class performance. The Cape-class has set new benchmarks in patrol boat design and capability. Austal designed and built these vessels to secure and protect Australia’s extensive maritime borders, with eight currently in service for the Australian Border Force and now two in service for the RAN,“ Gregg added.

Austal’s 58 metre Cape-class patrol boat was specifically designed to meet the unique border protection and maritime security requirements of the Australian Border Force and RAN. With a top speed of 26 knots and an operation range of up to 4,000 nautical miles, the Cape-class is a critical part of Australia’s ongoing maritime security. The vessel operates with a crew of 22 and is capable of operating 28-day patrols in sea state 4 with the ability to launch two boats simultaneously.

Austal’s Chief Executive Officer, David Singleton said the delivery and naming of this latest Cape-class highlighted Austal’s experience in designing and building defence vessels.

“Since 1998, Austal has successfully delivered 74 patrol boats for domestic and international markets. The Cape-class Patrol Boat Program achieves Austal's strategy of balancing export and domestic production and forms the basis of a sustainable model of naval shipbuilding in Australia” Mr Singleton said.

“Exports derived from defence programs, like Cape, highlight ‘the multiplier effect’ on local job creation, when Australian suppliers are engaged to deliver both domestic and international contracts. Every program we deliver creates both direct and indirect jobs, across the country. Austal has always operated with an export focus, and we continue to deliver four out of every five ships for the international market.” he said.

Austal is currently bidding with German designer Fassmer to design and build 12 new Offshore Patrol Vessels (OPV’s) for the Royal Australian Navy, as part of the Australian Government’s Continuous Naval Shipbuilding Program. The continuation of Austal providing critical capability for the Commonwealth of Australia (through the Pacific Patrol Boat Replacement Project) and RAN (with the Cape Class and OPV) not only contributes to Australia’s sovereign shipbuilding industry but also provides a prominent base for increased export opportunities globally.

Austal is currently pursuing export opportunities for variations of the Bay-class, Cape-class and Guardian-class (Pacific) patrol boats, for customers in the Middle East and Asia with expectations that this activity will result in even greater vessel design, construction and sustainment work and supply chain engagement in Australia.

Austal Australia Chief Operating Officer Mr Patrick Gregg with Cape Inscription Commanding Officer LCDR Iain McCall, RAN with the Cape Inscription at HMAS Stirling (Photo: Austal)

Cape Inscription Commanding Officer LCDR Iain McCall, RAN leading the ships’ crew in a cheer following the official naming ceremony (photo: Austal)

Austal’s Chief Operating Officer, Patrick Gregg, Head of Programs Ben Wardle and Cape Class Patrol Boat Program Manager Brendan Spreckley with Cape Inscription Commanding Officer LCDR Iain McCall and senior officers from the Royal Australian Navy at the vessels’ naming ceremony at HMAS Stirling. (Photo: Austal)