Austal Vietnam awarded contract for 71 metre RORO Passenger-Cargo Vessel

COMPANY ANNOUNCEMENT

18 MARCH 2024

AUSTAL VIETNAM AWARDED CONTRACT FOR 71 METRE RO-RO PASSENGER-CARGO VESSEL

Austal Limited (Austal) (ASX: ASB) is pleased to announce Austal Vietnam has been awarded a contract to design and construct a 71-metre roll-on-roll-off (RORO) passenger cargo vessel for The Degage Group of French Polynesia.

The new steel monohull ferry design includes an aluminium superstructure accommodating up to 140 seated passengers and 17 crew, and features a main cargo deck area of 494 sqm; capable of transporting a combination of 10’ and 20’ containers, palletised cargo and vehicles.

The exact purchase price for the vessel cannot be disclosed for commercial reasons however is in the range of AUD$30 - $40 million.

Austal Limited Chief Executive Officer Paddy Gregg said the new contract represents the fifth ferry to be designed and constructed by Austal for The Degage Group, and the first steel hull ship to be constructed by Austal Vietnam.

“This contract is a testament to the successful business partnership developed between Austal and The Degage Group over a number of decades; reflecting the Degage Group’s great satisfaction in the Austal ferries delivered to date and their tremendous confidence in our team’s capability to deliver this all-new, steel hull design,” Mr Gregg said.

“In less than five years, the world-class shipbuilding team at Austal Vietnam has delivered three major ferry projects, for operators around the world, and now they are ready to take on their first steel hull ship, for one of our most valued customers.

“Our sincere thanks and warmest congratulations to both The Degage Group, and the Austal Vietnam team on this exciting new shipbuilding project that adds yet another, innovative ferry platform to the Austal commercial portfolio.

Mr Eugene Degage, Owner and Managing Director of The Degage Group said “We are extremely satisfied with our collaboration with the Austal shipyard, which has successfully built vessels for our Degage Group fleet. This success is testament to the trust we place in their expertise and professionalism. Each vessel is a testament to their dedication to delivering superior products that combine innovation and performance. Their unwavering commitment and attention to detail ensures that these vessels meet the highest industry standards. This fruitful collaboration reinforces our conviction that Austal shipyard is a reliable and competent partner for large-scale marine projects. We look forward to continuing this relationship and exploring new opportunities together.”

With a cruising speed of 12 knots and a range of 1,000Nm, the new ship (to be named Dory 2, after her predecessor) is designed to operate essential, inter-island transport services efficiently and sustainably, between Papeete and the Palliser Islands in French Polynesia. Austal has previously designed and built six vessels for The Degage Group, comprising two 69 metre monohull cruise ships (Austal Hulls 172 and 173), a 56 metre vehicle passenger catamaran ferry (Austal Hull 266), an 80 metre vehicle passenger catamaran ferry (Austal Hull 201), a 49 metre vehicle passenger ferry (Hull 421) and most recently, the 66 metre high-speed catamaran ‘Apetahi Express’, delivered in June 2023.

This ASX announcement has been approved and authorised for release by Paddy Gregg, Austal Limited’s Chief Executive Officer. 

‘Dory 2’ is a 71 metre RORO passenger cargo ferry to be constructed by Austal Vietnam for The Degage Group of French Polynesia (Image: Austal Australia)