Partnership announced for high-speed ferry construction

Australian-based Austal has formed a joint venture with a Chinese ship building company to build and market commercial aluminum vessels, designed by the Australian company, in Guangdong province.
According to a Business News report, Austal will own 40 percent of the joint venture, to be named Aulong Shipbuilding Company. Guangdong Jianglong Shipbuilding will own the majority of the shares.
Austal will design high-speed ferries, which will be manufactured in Jianglong’s facilities in Guangdong. The ferries will replace existing ones operating in China. Austal chief executive David Singleton is aiming to “combine the strength of a current high quality shipyard in China with Austal’s market leading designs.”
Austal has already delivered 52 high-­ speed aluminum ferries to 20 costumers in China, Hong Kong and Macau as the Chinese passenger ferry market was the company’s first major export market.
The Australian company is expecting to replace current vessels and high-speed ferries built by other manufacturers in the next few years as the Chinese government only allows a maximum operating life of 25 years for commercial high-speed ferries.