Austal wins wind farm deal

Perth-based shipbuilder Austal has won a £10.5 million ($16.3 million) deal for the design and construction of three wind farm support vessels, which will operate off the European coast.

Austal said the 27 metre catamarans, which are being built for UK-based Turbine Transfers at its Philippines shipyard, would be built over nine months, commencing in March next year.

Chief executive Andrew Bellamy said Austal had decided to focus on the growing market for wind-farm support boats midway through 2010.

“Having spent the first year working hard to better understand the market’s expectations we signed our first contract in July last year,” Mr Bellamy said.

“During that initial 12 month marketing period we did a lot or research and design development and also confirmed that Austal needed to regionalise its manufacturing base in order to be successful.

“The company acquired a shipyard in the Philippines last November for that very reason.”

Mr Bellamy said that Austal would continue to aggressively pursue further projects for wind farm boats, ferries and other commercial vessels.

At close of trade, Austal stocks were down 0.38 per cent, trading at $1.31.