Austal Secures Up to AU R75 million Contract for Hydrogen Ready High Speed Ferry

Austal Limited (ASX: ASB) has been awarded a contract valued between AU$265 million and AU$275 million by Gotlandsbolaget of Sweden for the design and construction of a 130-metre, hydrogen-ready, high-speed vehicle passenger ferry. As part of Gotlandsbolaget’s Horizon X program, the vessel will feature a first-of-its-kind combined cycle propulsion system, integrating gas and steam turbines to enhance efficiency and reduce emissions. 

The ferry, capable of carrying 1,500 passengers, 400 vehicles, and cargo, will be built at Austal’s Philippines shipyard, with construction commencing in the first half of 2026 and completion expected by mid-2028. The project incorporates green aluminium and advanced hydrodynamic design to support climate-neutral operations. With approval from DNV for hydrogen-capable operations, the vessel sets a new benchmark for sustainable high-speed transport. CEO Paddy Gregg emphasized Austal’s role in leading the decarbonization of commercial ferries.

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