RAN signs lease extension for Cape-class patrol boats
The Royal Australian Navy (RAN) has signed a two-year lease extension with the National Australia Bank for its two Cape-class patrol boats (CCPB), Cape Fourcroy and Cape Inscription.
Manufacturer Austal said that the lease extends the charter from the initial three-year minimum term to five years, adding that the company is also providing ongoing in-service support and sustainment for the vessels.
The contract extension has reduced the total residual value for the two vessels from A$42 million to circa $24.3 million, so related debt on the balance sheet for CCPB 9 and 10 has become non-current again, and will progressively reduce from minus A$48.8 million as of 30 June 2019 to minus A$24.3 million in late FY2022 at the maturity of the extended contract period.
Austal’s CCPB is a 58m aluminium monohulled vessel, designed to perform border protection and maritime security tasks, with a top speed of 26kt and a range of up to 4,000nm.
It has a crew of 22, and is capable of undertaking 28-day patrols in up to sea state 4, as well as having the ability to launch two boats simultaneously.
‘This proven capability has also attracted attention from a number of export markets, including the Trinidad and Tobago coast guard, which recently contracted Austal to deliver two of the vessels,’ David Singleton, CEO of Austal, said.
‘The lease extension also includes a sustainment package – to be delivered by Austal and delivering revenue to Austal – to ensure vessels are available to meet the operational demands placed upon them.’
Northrop Grumman Electronic Systems has received an order for electronic surveillance in support of the P-8 aircraft programme from the US Defense Logistics Agency Aviation. ...
The Royal Navy’s second aircraft carrier, Prince of Wales, has sailed from Rosyth Dockyard for initial sea trials. The carrier will conduct extensive sea trials ...
Saab has been selected as the combat system provider and integrator for the Finnish Navy’s four new Pohjanmaa-class corvettes within the Squadron 2020 programme. Finland’s ...
Leidos has received a follow-on contract from the US Navy to provide submarine detection sonar services. The three-year award has a total value of approximately ...
Despite the selection of Babcock’s Arrowhead 140 design for the UK Royal Navy’s Type 31 light frigate programme, both potential supplier and customer remain cagey ...
The first class of Royal Norwegian Air Force (RNoAF) aircrew graduated from the US Navy’s Patrol Squadron (VP) Thirty’s Category 2 school on 11 September, ...