• 2020 October 23 11:09

    Austal to further expand Australia support business through acquisition of BSE Maritime Solutions

    Austal Limited (Austal) is building on its growing global support business by entering into an agreement to acquire Australian-based BSE Maritime Solutions Group (BSE Maritime Solutions). The acquisition of the business is at an enterprise value of A$27.5 million, the company said in its release.

    BSE Maritime Solutions is a leading ship repair and support business for defence, commercial, tourism, and luxury vessel customers, operating in Cairns and Brisbane. Current customers include Australian Border Force, BAE Systems, Thales and Svitzer. BSE Maritime Solutions employs approximately 60 permanent staff who will be offered employment with Austal.

    The acquisition aligns with Austal’s stated strategy of continuing to build the Company’s key support business. Revenue from Austal’s support segment has grown at an annual rate of 28 per cent over the past four years to reach $360 million in the 2020 financial year, providing reliable ongoing revenue in addition to Austal’s shipbuilding operations.

    Austal expects that the new business will generate an EBITDA of A$5m in FY2021 rising to A$11m by FY2025 as more Austal ships covered by current sustainment contracts are delivered to the Commonwealth of Australia.

    Agreement terms Under the acquisition agreement Austal will acquire all of the shares in BSE Maritime Group Ltd, Brisbane Slipway Holdings Pty Ltd, and Brisbane Slipways and Engineering Pty Ltd.

    The purchase will be funded from Austal’s strong cash reserves, with the Company holding a $272.4 million net cash position as at 30 June 2020.

    The Agreement is subject to a number of customary conditions precedent to completion and is expected to settle at the end of November 2020. This ASX announcement has been approved and authorised for release by David Singleton, the Chief Executive Officer of Austal Limited.

    This ASX announcement has been approved and authorised for release by David Singleton, the Chief Executive Officer of Austal Limited.




2020 November 27

18:27 First full-flow ballast water management system to receive Chinese Flag and CCS Type Approval
18:05 CLdN adds 2nd call on Zeebrugge - Cork route
17:47 Seagoing vessels mooring at North Sea Port will now pay a single tariff for the entire cross-border port area
17:26 FESCO delivered extra heavy power equipment from Russia to Bangladesh
17:05 LR, Anemoi and SDARI join forces on rotor sail designs
16:39 Interested parties invited to submit offers on development of deepwater terminal in Świnoujście
16:14 Sea-Cargo starts new freight service via Gothenburg
15:50 Yantar shipyard delivers new trawler of Project SK-3101R
15:48 Mikki Koskinen elected as the new Chairman of Finnish Shipowners’ Association
15:36 Head of Delo Group outlined tasks for updated composition of TransContainer BoD
15:15 IHM Certification for UK flag ships subject to PSC inspection at EU ports
14:48 IADС continues partnership with organizers of Hydraulic Engineering Structures and Dredging Congress
14:14 Wilhelmsen awarded funding for Singapore 3D printing project
13:59 World Maritime University and Batumi State Maritime Academy signed MoU
13:33 Bunker prices recover in the Far East ports of Russia (graph)
13:14 Fully integrated Wärtsilä Hybrid Solution selected for new Misje Rederi bulk carriers
12:50 BW Lilac to deliver its first LNG cargo to Klaipėda LNG terminal
12:25 Russian Maritime Register of Shipping takes part in ROOGD-2020
12:01 The world’s first LPG-fuelled vessel has set sail
11:31 Port of Southampton to open new cruise terminal for 2021 season
11:07 DEME awarded the prestigious Abu Qir port project in Egypt
10:44 Main engines loaded on General Chernyakhovsky ferry being built by Rosmorport’s order
10:17 Austal Australia cuts metal on third of six cape class patrol boats for Royal Australian Navy
10:15 2020 season of shipping through Volga-Baltic locks is over
09:51 Equinor and partner reach financial close on world's biggest offshore wind farm
09:36 Baltic Dry Index as of November 27
09:31 MABUX: Bunker Market this morning, Nov 27
09:22 Oil prices decrease on uncertainty over OPEC+ deal

2020 November 26

18:31 Port of Houston is now the number one port in U.S. in terms of total waterborne tonnage
18:00 Port of Rotterdam to embark on 100 innovative pilot projects
17:51 RF Navy’s frigate Admiral Gorshkov performs tests in the White Sea
17:27 DFDS and its partners apply for EU support for development of hydrogen ferry
17:24 Rosneft conducts stratigraphic drilling on Arctic shelf
16:59 RF Navy's corvette Boykiy completed missions in the English Channel
16:27 RF State Duma approves lifting the ban on storage of agricultural chemicals in ports
16:03 MacGregor reaches OnWatch Scout milestone
15:25 APM Terminals Gijon responds to doubling of container volumes
14:58 Western Shipyard boosts its vessel repair capacity
14:33 Keppel secures contract worth about S$100 million for FPSO project
14:29 EU funds to dredge the navigation channel up to -15 meters in Klaipeda Port
14:02 BC Ferries to trial two ship service on Campbell River – Quadra Island route
13:48 Andrey Severilov elected as Chairman of FESCO BoD
13:30 The Danish Armed Forces and DFDS enter into an agreement on providing ships for the transport of military equipment
13:22 MPA invites market specialists to join its International Safety@Sea Webinar Series
13:02 Fincantieri with the fishing association “Federpesca” to revive the national fishing economy
12:24 Rosneft completed survey and design stage of the project to a port in Sever Bay
12:01 APM Terminals Apapa continues equipment investment programme
11:31 Huntington Ingalls Industries awarded contract for construction of first two Columbia-class submarine modules
11:06 Aquila Power Catamarans rolls out its redesigned sport power catamaran
11:06 Maqta Gateway and TruKKer to collaborate on digital truck booking services through “MARGO”
10:55 New Alfa Laval CM wireless condition monitor boosts process uptime while protecting plant equipment
10:26 BPA: Gov't one year spending review
10:04 Volvo Penta’s transformation for the marine commercial professional of today and tomorrow
09:50 50 vessels and up to 100 drilling units to service Vostok Oil project
09:27 MABUX: Bunker Market this morning, Nov 26
09:24 Oil prices rise close to the level of March
09:10 Baltic Dry Index as of July 7
09:01 BPA calls for government to back a better connected Britain

2020 November 25

18:53 US to impose tough Port State Control measures on Cyber risk management
18:37 CMA CGM to launch SEAPRIORITY EXPRESS service connecting Yantian with Los Angeles