US Navy Extends Charter of High Speed Vessel

Austal Limited (Austal) (ASX:ASB) is pleased to announce the charter of Austal’s high speed vessel, the WestPac Express, has been extended by the United States Navy’s Military Sealift Command.

Under the new contract, the initial charter period has been extended for 10 months, with three option periods. Should all options be exercised, the contract will be valued at approximately US$29.9 million and extend the charter to mid-2016.

Austal’s WestPac Express has been chartered to the US Navy for the rapid deployment of marines and their equipment in the Western Pacific continuously since July 2001. The ship has achieved in excess of 99% technical availability across this period.

The WestPac Express is a 101 metre high speed catamaran that enables up to 900 personnel together with up to 550 tonnes of vehicles and equipment to be moved in a single lift, providing considerable strategic and cost advantages compared to alternative transportation modes. The ship can operate at speeds up to 36 knots (70km / hour).

Austal manages the charter operation, including in-service support, ship management services, and integrated logistics support.

The success of WestPac Express reflects Austal’s capability to provide high speed platforms for military operations and the breadth of Austal’s global support services, with support facilities in the United States, Australia, Asia, the Caribbean, and the Middle East.