{"id":96008,"date":"2026-02-20T14:29:19","date_gmt":"2026-02-20T17:29:19","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/894115511"},"modified":"2026-02-20T14:29:19","modified_gmt":"2026-02-20T17:29:19","slug":"australian-shipbuilder-austal-bags-2-8-billion-government-contract","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/20\/australian-shipbuilder-austal-bags-2-8-billion-government-contract\/","title":{"rendered":"Australian shipbuilder Austal bags $2.8 billion government contract"},"content":{"rendered":"

<\/p>\n

<img width="590" height="442" class="unveil" loading="eager" src="https:\/\/infra.economictimes.indiatimes.com\/images\/default.jpg" data-src="https:\/\/etimg.etb2bimg.com\/photo\/128602407.cms" captionrendered="1" alt="<\/p>\n

Shares of the company closed 5.5 per cent higher after \u2060rising as much as 7.5 per cent earlier in the day.<\/span><\/strong><\/p>\n

“>

Shares of the company closed 5.5 per cent higher after \u2060rising as much as 7.5 per cent earlier in the day.<\/span><\/figcaption><\/figure>\n

Australian shipbuilder<\/a> Austal secured a A$4 billion ($2.82 billion) government contract on Friday, \u200ccementing its \u2060role \u2060as a core partner in the federal government’s naval modernisation drive.<\/p>\n

The contract is the second major defence award Austal has bagged under Australia’s Strategic Shipbuilding Agreement with the company, following the A$1.03 billion Landing Craft Medium deal in December.<\/p>\n

“This contract generates a record order book for Austal, provides a long-term demand signal for our supply chain \u2060and provides the \u200cincentive to invest in uplifting our capability,” said CEO Paddy Gregg<\/a>.<\/p>\n

Shares of the company closed 5.5 per cent higher after \u2060rising as much as 7.5 per cent earlier in the day.<\/p>\n

“Austal is unique in the listed Australian defence sector and the highest quality in the peer group,” said Richard Ivers, portfolio manager at Prime Value Asset Management.<\/p>\n

“It’s smart of the government to provide this certainty for Australia’s defence manufacturing base and underpins the long-term outlook for Austal which is good for shareholders.”<\/p>\n

Under \u200cthe deal, Austal Defence Shipbuilding Australia, the company’s private defence shipbuilding arm, has been tasked with the construction of eight 100-metre landing craft heavy (LCH) vessels, \u2060using both its own infrastructure and common-user facilities at Henderson.<\/p>\n

Construction works for the vessels are scheduled to begin this year and the final vessel is slated for delivery in 2038.<\/p>\n

Meanwhile, the shipbuilder’s US unit is also building up to 12 smaller landing craft utility vessels for the US Navy at its shipyard in Mobile, Alabama.<\/p>\n

<\/p>\n

\n
\n