In brief
Austal Limited says its Australasia business has won a contract from Sweden’s Gotlandsbolaget to design and build a 130-metre high-speed passenger and vehicle ferry. The agreement is valued between A$265 and A$275 million. The vessel, part of Gotlandsbolaget’s Horizon X program, is planned to carry up to 1,500 passengers and 400 vehicles and use a combined-cycle propulsion system with gas and steam turbines. Austal says the hydrogen-ready, multi-fuel design will be built at its Philippines shipyard, with construction expected to begin in the first half of CY2026 and finish in mid-2028. The release also describes green aluminium and an exhaust-reuse system intended to support efficiency and lower emissions. The companies previously announced development plans in April 2023.
Key takeaways
- Austal Australasia received a Gotlandsbolaget contract valued between A$265 and A$275 million.
- The ferry is designed to carry up to 1,500 passengers and 400 vehicles.
- Its propulsion arrangement combines gas and steam turbines and is described as hydrogen-ready.
- Construction is expected to start in the first half of CY2026 at Austal’s Philippines shipyard.
Austal Limited (ASX: ASB) is pleased to announce Austal Australasia has been awarded a contract valued between A$265 and A$275 million by Gotlandsbolaget of Sweden, for the design and construction of a 130-metre combined cycle, ‘hydrogen-ready’ vehicle passenger ferry.
February 13, 2025 -- Part of Gotlandsbolaget’s ‘Horizon X’ program, the high-speed ROPAX catamaran will be the largest vessel ever constructed by Austal, and feature a unique, highly efficient combined cycle propulsion system that includes both gas and steam turbines – a first for high-speed craft, worldwide.
With a capacity to transport up to 1,500 passengers, cargo and 400 vehicles, the ‘Horizon X’ multi-fuel catamaran will be designed by Austal with construction at the Austal Philippines shipyard commencing the first half of CY2026; utilising “green aluminium”, produced using energy efficient processes and technologies that use less carbon, resulting in lower emissions. Construction is scheduled to complete in mid-2028.
Announcing the contract award, Austal Limited Chief Executive Officer, Paddy Gregg said "Horizon X is an incredibly exciting project that is going to re-define commercial ferry capabilities, with a multi-fuel and hydrogen-capable combined cycle powerplant and a class-leading, efficient hull design.
“The flexible fuel technology demonstrated in Horizon X is leading the transition to decarbonisation of commercial ferries, and we’re proud to be at the forefront, partnering with Gotlandsbolaget, to deliver this industry-leading new ferry.
Mr Gregg further emphasised Austal's commitment to delivering a high-speed catamaran that represents a significant step towards climate-neutral emission targets while providing an exceptional passenger experience.
Gotlandsbolaget Chief Executive Officer, Håkan Johansson expressed his enthusiasm for the Horizon X project, saying “Thanks to the great collaboration between Gotland Tech Development and Austal, we can now move forward in supplementing our existing fleet of larger passenger and cargo vessels with a high-speed, multi fuel-catamaran, which is also hydrogen-ready.”
“Horizon X is not only designed for speed and efficiency but also for sustainability, as it incorporates cutting-edge green technology, including a hydrogen-ready, highly efficient gas turbine propulsion system.
“This vessel is a key step in our strategy to achieve climate-neutral operations, utilising lightweight green aluminium and advanced hydrodynamic design to minimise fuel consumption and emissions.
“Serving the island of Gotland and the (Swedish) mainland in a climate and environmentally responsible way is at the heart of our mission, and Horizon X represents a significant milestone in that journey," Mr Johansson added.
Austal and Gotlandsbolaget first announced plans for the development of the 130-metre multi-fuel high speed vehicle passenger ferry design, with the flexibility to be able to operate on a variety of fuel types including hydrogen, in April 2023.
Since then, Austal and Gotland Tech Development, a part of Gotlandsbolaget, have engaged with technology providers from around the world to select preferred main equipment, and to define system arrangements. This has included the development of the unique propulsion system arrangement that repurposes engine exhaust to contribute to vessel propulsion and reduce emissions.
In October 2024, the project gained approval in principle from the leading, global independent Nautical Classification Society, DNV, with the vessel design being confirmed as complying in principle with rules relating to gas-fuelled ship installations (hydrogen) and the International Code of Safety of Ships Using Gases or Other Low Flashpoint Fuels.
This ASX announcement has been approved and authorised for release by Paddy Gregg, Austal Limited’s Chief Executive Officer.
Austal will design and construct a new 130 metre high-speed, hydrogen-ready catamaran for Gotlandsbolaget of Sweden (Render image: Austal)
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Questions around this news
When and where is the ferry expected to be built?
Construction is planned at the Austal Philippines shipyard, starting in the first half of calendar year 2026. The release says construction is scheduled to finish in mid-2028. Austal is responsible for both designing and constructing the vessel.
What does “hydrogen-ready” mean for a vessel?
In general, “hydrogen-ready” describes equipment or a vessel designed with the potential to use hydrogen as a fuel, subject to suitable systems, fuel supply and any required modifications or approvals. The phrase alone does not establish that the vessel currently runs on hydrogen or specify how much conversion would be needed.
How does a combined cycle propulsion system work?
A combined cycle system uses more than one stage to convert fuel energy into useful power. In a common arrangement, a gas turbine produces power and its hot exhaust is then used to generate steam, which drives another turbine. Recovering energy from exhaust can improve overall efficiency compared with using the first stage alone.
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