Corporate
March 21, 2003

Leading European Ferry Operator Fred. Olsen SA Announced as Owner of Austal Hull 196

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Austal and leading European ferry operator Fred. Olsen S.A are pleased to confirm that the Canary Islands based company is the owner of the 66 metre high-speed vehicle-passenger catamaran (Hull 196) contracted in December last year and currently under construction at Austal’s shipyard in Western Australia.

Austal Managing Director, Mr Bob McKinnon said establishing a business relationship with such a high profile and highly professional organization was a coup for the company and enhanced Austal’s reputation as a leader in the world ferry market.

“It certainly augurs well for Austal that Fred. Olsen S.A, an established fast ferry operator with nearly 30 years experience in the shipping industry in the Canary Islands and a five vessel fleet, has selected us to build this 66 metre vehicle-passenger ferry,” Mr McKinnon said.

“Austal is delighted to be associated with such a well-known company and we look forward to establishing a long and fruitful relationship.”

Mr. Fred Olsen Jnr., Executive Chairman of Fred. Olsen S.A. states, “The route on which this vessel will operate has very complicated port facilities, shallow waters, strong winds and a physical ship size restriction.

“For this sole purpose it was important for us to be able to tailor-make this 66 metre vehicle-passenger fast ferry. Austal Ships gave us the opportunity to do just this through cooperation with their professional engineering and designing staff.

“Together we have been able to put together a highly sophisticated ship with many new ideas and features that will not only be beneficial to the passengers and cargo operators, but that will also be of great importance for us,” Mr Olsen explained.

To be named “Bocayna Express”, the Auto Express 66 will operate at a speed in excess of 30 knots and will have the capacity to carry 450 passengers and 69 cars or 110 lane metres of trucks plus 37 cars. Construction of the all aluminium catamaran is progressing according to schedule for delivery in the second half of this year.

Further Information

Contact: Austal
Phone: 61 8 9410 1111
Fax: 61 8 9410 2564
Email: media@austal.com

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