I think that this is great news for the Vung Tau Vietnamese yard to get such substantial new work in. I am however concerned that this is their first steel build, all prior builds being aluminum. When asked during the recent earnings call about the partnership with Spectainer, Paddy had indicated that any work to build those collapsible shipping containers (normal shipping containers being built of corten steel) would be great work for the Vietnam yard to commence production on, so presumably there is some knowledge base and presumably means of production in the Vung Tau yard to work with steel. I just hope that the contract is priced correctly.
It's great to hear that the Vietnam and Phillipines yards are getting more than just service and refurbishment work this year, noting that the Balamban, Cebu yard was awarded a contract to construct a new 32 metre cataman ferry for Rottnest Fast Ferries in December, and for which construction has already commenced.
The visit by Albanese to Hanoi in 2023, and Francos visit to Australia in 2024 both bode well for future commercial, and possibly even defence contracts coming from these two high growth Tiger Cub nations for Austal, in addition to that work we can source from abroad for these yards to get cracking on.
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I think that this is great news for the Vung Tau Vietnamese yard...
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