Austal firms up three more patrol cutters for US Coast Guard

Austal firms up three more patrol cutters for US Coast Guard

The Coast Guard decision has exercised $480m of contract options, paving the way for Austal’s US shipyard to order long lead items needed to begin construction of three more 110m Heritage-class cutters.

Austal Shares Rise on US Coast Guard Deal

Shares in ASX-listed shipbuilder Austal have climbed 3 per cent following an announcement that the United States Coast Guard has exercised options valued at $A480 million. Austal described the move as an “important sign of intent” regarding the ongoing Offshore Patrol Cutters (OPC) program. Austal specialises in designing, constructing, and supporting defence and commercial vessels. The company has shipyards in Australia, the United States, and …