ADNOC splashes $30m on ferries

Australian yard commissioned for project.
NEWS

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 Abu Dhabi National Oil Company (ADNOC) has commissioned Australian vessel maker, Austal to build two catamaran ferries for $30 million.

The 45-metre high speed ferries will be used to transfer cargo, equipment and personnel to ADNOC's offshore facilities.

"Given the subdued commercial ferry market, we have repositioned our commercial business to be more competitive and target sectors that will deliver value,” said Andrew Bellamy, chief executive of Austal.

He said that the contract fitted the Austal strategy of targeting commercial vessel opportunities in the oil and gas industry.

Design and construction will begin this quarter at Austal’s shipyard in the Philippines, and ADNOC expects both vessels delivered in 2015.

"Expanding into the Philippines was a key step in increasing competitiveness and we have enhanced this through the ongoing transfer of technology to the shipyard," said Bellamy.

He also mentioned that new and emerging markets such as the energy sector and Middle East were significant targets to drive value from the shipyard.

In 2012, Austal moved is commercial shipbuilding operations from Western Australia to the Philippines. It now focuses on defence vessels at its Henderson facilities in Australia.

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