Austal to build US Navy ship in potential $4.8b deal

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“The T-AGOS contract is a clear acknowledgment of Austal’s capabilities in steel naval shipbuilding,” Mr Gregg said. Austal’s shares jumped 27 per cent in early trading on Friday, rising 43¢ to trade at $2.03 per share, their highest prices since January. Austal was one of two bidders for the contract, which includes an option to build up to six more ships. If all the options are exercised, Austal will be building the ships until June 2034. The US Navy wants the new ships to replace five existing T-AGOS ships to respond to “the submarine modernisation efforts of countries such as...