Austal nears completion of luxury yacht

Australian shipbuilder Austal, based in Western Australia, is close to completing a new $29.25 million luxury yacht.

This is first yacht that Austal has built in four years, following a disastrous fall out with Australian golfer, Greg Norman. According to local press sources, Austal lost $16.45 million after building a yacht for Norman, who then demanded changes during its construction, leading to a large cost blowout. Norman then sold the vessel for a large profit.

Austal Global Sales Director Andrew Bellamy said that the company had learnt its lesson and now only semi-customising vessels which leaves plenty of leeway for new owners to customise it after purchasing it.

Speaking of the new yacht, Bellamy said that it was several weeks away from completion and that the company had already received enquiries from a number of interested buyers.