Austal to construct 66 metre siling cargo trimaran powered 100% by wind

COMPANY ANNOUNCEMENT

29 JULY 2024

Austal to construct 66 metre sailing cargo trimaran powered 100% by wind

Austal Limited (Austal) (ASX: ASB) is pleased to announce Austal Australasia has been awarded a contract to design and construct a wind-powered, aluminium cargo trimaran for Vela Transport of Bayonne, France. The exact purchase price for the vessel cannot be disclosed for commercial reasons, however, is in the range of A$40–$45 million.

The first-of-class, 66.8 metre high-value cargo vessel, based on a concept by VPLP of Paris and featuring a sailing system by MerConcept, will be constructed by Austal Philippines, in Balamban, Cebu, and is scheduled for delivery in mid CY2026.

Austal Limited Chief Executive Officer Paddy Gregg said the new contract confirmed Austal’s position as a shipbuilder of choice; as a leader in trimaran design and construction; and with capabilities to deliver a diverse range of environmentally friendly maritime solutions, worldwide.

“Austal is delighted to be partnering with Vela to deliver this unique, sailing cargo trimaran – a striking looking vessel that will transport high-value goods across the Atlantic Ocean using 100% wind power,” Mr Gregg said.

“Austal’s proven experience in trimaran design offers Vela a large cargo space and greater flexibility while delivering superior seakeeping, efficiency, and performance. The shallow draft of the trimaran also allows greater access to secondary ports, facilitating access to Vela’s customers’ factories and warehouses.

“The use of sails for main propulsion, rather than conventional diesel-powered engines, is also expected to deliver a 99% reduction in greenhouse gas emissions, compared with conventional container ships.

“Having designed and constructed 25 large trimarans for commercial and defence operators around the world, since 2007, no other shipbuilder is better placed to deliver this impressive new ship for Vela, and the Austal Philippines team can’t wait to get started.

“Our thanks to the Vela team for their trust in Austal to deliver their first ever sailing cargo trimaran, a vessel that will undoubtedly play a leading role in promoting the decarbonisation and sustainability of the international maritime transport industry.”

Vela Transport Chief Executive Officer Pierre-Arnaud Vallon said: "We are not just constructing a ship with Austal, we are helping to shape the future of international maritime transport. With our strategic shipbuilding partner Austal, we are pioneering the way for an era where ships harness clean and inexhaustible energy. This sailing cargo trimaran, the first and largest of its kind, symbolizes our vision of a world where sustainability and innovation go hand in hand."

Vela Transport Chief Operating Officer Pascal Galacteros added: “The construction of this unique vessel represents an unprecedented technical challenge. We are tackling it with pride and determination, relying on Austal’s globally recognised expertise in multi-hulls and aluminium shipbuilding, and integrating the wind sailing expertise from our partners, VPLP and MerConcept.

“Austal was selected after a global tender process lasting over nine months. The trust that emerged from our interactions with the Austal teams in Australia and Philippines convinced us that we had the best strategic shipbuilding partner for our project.”

This ASX announcement has been approved and authorised for release by Paddy Gregg, Austal Limited’s Chief Executive Officer.

Austal Philippines is constructing a 66 metre aluminium sailing cargo trimaran for Vela Transport of France (Image: Vela Transport)

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Media Contact:

Cameron Morse, FTI Consulting

+61 433 886 871

cameron.morse@fticonsulting.com