• 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.




2021 May 14

18:46 Pilbara Ports Authority posts results for April 2021
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16:31 DNV, the University of Bristol and Percepetual Robotics launch new research project to develop automated verification of offshore wind turbine inspection results
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14:56 Rosneft reports its 1Q 2021 net income of RUB 149 bln
14:17 Port of Liepaja throughput in 4M’2021 climbed by 1.6% Y-o-Y
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2021 May 13

18:41 DFDS ferry volumes up 50% in April 2021
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17:54 Sparta III delivered yet another cargo to Franz Josef Land
17:37 COP26 in focus as UNGC gathers leaders at Nor-Shipping’s Ocean Now
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17:02 Admiral Makarov University took part in ARCSAR workgroup
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15:37 12th Arctic Council Ministerial meeting convenes in Reykjavík
15:13 Bunker Weekly Outlook, Week 19, 2021
15:04 Klaveness joins collaboration project to evaluate the potential role of carbon capture in meeting shipping’s near-zero emissions target
14:52 Wärtsilä Cargo Handling and Fuel Supply Systems again selected for Oriental Energy vessels
14:32 Capital Link Maritime Forum - Norway to take place on 26-27 May 2021 as digital event
13:48 Cargo traffic within Azov-Don Basin of Russia’s IWWs grew fell by 26% in 4M’21
12:46 Shell Marine expands shipcare network, offering customers greater convenience and smoother operations
12:29 Small anti-submarine ships of White Sea naval base commence training maneuvers at sea
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11:50 Singapore and Rotterdam successfully complete trial with electronic bill of lading
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11:09 Port of Long Beach container volumes up by 43.6% to 746,188 TEU in April 2020
10:42 TSUNEISHI SHIPBUILDING collects actual operation data by IoS-OP
10:33 RF Government approves new composition of its Marine Board
10:09 Bureau Veritas partners with North Sea Energy program
09:44 Damen launches RoPax 6716 for the Port Authority of Timor-Leste
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09:08 RINA certifies the improvement of the energy efficiency of Grimaldi ro-ro fleet
08:45 UN launches the Human Rights Due Diligence Tool for seafarers

2021 May 12

18:36 Rolls-Royce to supply mtu generator sets for U.S. Navy frigate program
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