Market Herald logo


Be the first with the news that moves the market
  • Austal signed a A$126 million contract to construct and export two Cape Class Patrol Boats for border protection for the Government of the Republic of Trinidad and Tobago
  • The Royal Australian Navy and Australian Border Force have both used these vessels and support their effective capabilities
  • The CCPBs are designed to be deployed in difficult maritime situations, intercepting irregular arrivals and preventing illegal smuggling
  • Austal is noticing an increased international demand for its vessels

Austal has signed a contract with the Government of the Republic of Trinidad and Tobago for the construction of two Cape Class Patrol Boats (CCPBs).

This new nine-figure contract follows yesterday’s announcement of a multi-million dollar contract landed with the U.S. navy.

Austal’s CEO David Singleton said the new A$126 million contract confirms a significant defence export opportunity for the company and workflow for its operations at its Henderson headquarters.

“It is important to acknowledge that the Royal Australian Navy (RAN) and the Australian Government were instrumental in the success of this defence export program,” David said.

The Government of the Republic of Trinidad and Tobago (GORTT) announced its intention to purchase two Austal CCPBs in July 2018. The vessels are expected to tighten border protection capabilities of the country and will join six Austal Fast Patrol Crafts acquired in 2009.

David stated the capabilities of the CCPBs received immense support from the RAN, the GORTT’s Minister for Trade, Minister for Foreign Affairs, and Minister for Defence.

“Austal’s Cape Class Patrol Boats have been deployed in difficult maritime situations, intercepting irregular arrivals and preventing illegal smuggling. This proven capability has attracted attention from a number of export markets, including Trinidad & Tobago,” he said.

The company originally designed and built ten CCPBs used by the RAN and Australian Border Force. The vessels span 58 metres and are made to combat maritime security threats.

Austal began construction with a metal cutting ceremony at its Henderson shipyard on April 8 2019. The GORTT Defence Force Officer, Captain Douglas Archer, and the Australian Defence Export Advocate, the Hon. David Johnston, were both in attendance.

“The increasing demand in the international market for our unique vessel designs and maritime technology is a real credit to our highly skilled workforce across our operations,” David concluded.

The GORTT requested the purchase of these vessels be financed through Export Finance Australia (EFA). The Commonwealth announced in December 2018 the Defence Export Facility would be able to support this program.

The CCPB vessels will be delivered in the second half of 2020.

ASB by the numbers
More From The Market Herald
ASX (ASX:ASX) - Outgoing Managing Director & CEO, Dominic Stevens

" ASX (ASX:ASX) CEO Dominic Stevens announces retirement

ASX (ASX:ASX) Managing Director and CEO Dominic Stevens has announced his retirement as the company reports…
Appen (ASX:APX) - CEO, Mark Brayan

" Appen’s (ASX:APX) shares rise on business restructure

Machine intelligence company Appen (ASX:APX) has made some changes to the structure of its business.

" Appen (ASX:APX) shares slip despite half-yearly revenue boost

Tech specialist Appen (ASX:APX) has slumped this morning despite reporting sturdy growth to revenue and profit…
Afterpay (ASX:APT) - CEO, Anthony Eisen

" Afterpay (ASX:APT) shares climb following news of US expansion

Shares in Afterpay (ASX:APT) have enjoyed an early morning boost after the buy now pay later…