Austal Limited (Austal) (ASX:ASB) is pleased to announce the 50 metre high-speed passenger ferry SeaStar 11, for Seaspovill of South Korea, has been successfully launched at the company’s shipyard in the Philippines.

Austal was awarded the A$16 million contract for the Incat Crowther designed catamaran in June 2016, following Seaspovill’s continued satisfaction with a pre-owned Austal vessel, Seastar 3, constructed in 1998.

Austal Chief Executive Officer David Singleton said the successful launch of the Seaspovill ferry, on schedule, confirms Austal’s ability to deliver multiple vessel programs for numerous customers, from a single shipyard.

“Austal Philippines has had 4 vessels for 3 international customers under construction over recent months, demonstrating proven skills in managing multiple, complex commercial vessel projects, simultaneously.

“Customers like Seaspovill of South Korea are benefiting from Austal’s valuable experience, having delivered more than 255 vessels worldwide since 1988. Commercial operators appreciate the extraordinary focus we have on delivering the highest quality ships, on time and on budget,” Mr Singleton said.

Transporting as many as 450 passengers at speeds greater than 40 knots, the new ferry is Austal’s first new build for a South Korean operator and will join Seapovill’s growing fleet operating out of the Port of Donghae.

Austal Philippines delivered two 30 metre high speed passenger ferries to the 2Go Group of the Philippines in June and construction continues of a 56 metre high speed passenger ferry for FRS of Germany.