AUSTRALIA’S CAPABILITY IN COMMERCIAL AND SERVICES Cover Photo courtesy Boats Australia

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Publication date: December 2017

2 COMMERCIAL SHIPBUILDING AND SERVICES INTRODUCTION INDUSTRY OVERVIEW COMPANIES AND CAPABILITIES GOVERNMENT AND INDUSTRY ASSOCIATIONS INNOVATIVE, EFFICIENT AND HIGH QUALITY Photo courtesy of Aluminium Boats Australia Photo courtesy

COMMERCIAL SHIPBUILDING AND SERVICES 3 INTRODUCTION Australia, as an island continent, has had the sea INDUSTRY OVERVIEW as its lifeblood and maritime expertise was developed through necessity. GOVERNMENT AND INDUSTRY Today, Australia’s maritime industry is The industry offers leading-edge capabilities ASSOCIATIONS renowned for its innovation and flexibility, from design to manufacturing, supported by in- with the appetite and ability to tackle unique country fabricators, outfitters and component/ challenges. Australian designs, manufacturing systems manufacturers. The combined FURTHER processes and concepts reflect a capability ranges from small tourism and work INFORMATION technologically-forward and outwardly- boats through to the world’s fastest ships. focused industry. Australia is continuing to see investment in the Australian commercial marine companies marine sector, and there are a healthy number are advanced, experienced and offer world- of designers, shipbuilders, refit and repair yards class safety and manufacturing standards. and equipment suppliers with capabilities to Australian engineers and designers are highly contribute to this growing sector. trained and adaptable, and offer innovative to complex problems. The results of these abilities are vessels that are winning international awards for both quality and effectiveness.

4 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of Aluminium Marine Photo courtesy

COMMERCIAL SHIPBUILDING AND SERVICES 5 The Australian marine industry is made Australian-built vessels are renowned Work boats are essential for various INTRODUCTION up of the commercial, recreational, and for their sea ferrying capabilities, fuel operational needs and often have naval sectors. Australian shipbuilders economy, innovation, ingenuity and to be customised to suit specific INDUSTRY OVERVIEW have an impressive record of efficiency workmanship. These capabilities, purposes. and innovation, with Australian-made along with a reputation for providing Australia’s competitive advantage ferries, super yachts, patrol boats, practical solutions to challenging GOVERNMENT comes from investment in innovation fishing boats, and recreational vessels marine situations, are the hallmarks of and in research and development, AND INDUSTRY operational worldwide. Australia’s maritime industry. including access to the latest and most ASSOCIATIONS Australia’s shipbuilding and Australian-built ferries, for example, efficient technology and manufacturing maintenance repair overhaul (MRO) are world-renowned and a number of techniques2. FURTHER sector is made up of approximately Australian firms such as Austal, Incat 470 organisations that cater for both and Strategic Marine are leading ferry INFORMATION the defence and commercial market. manufacturers. Incat Tasmania has the With revenue set to grow at 4.3 distinction of being the builder of the per cent, the sector is expected to world’s fastest ship, which is fuelled by generate $3.8 billion in revenue during LNG and is of super-light construction. the 2017-18 financial year, with exports The offshore support vessel (OSV) valued at $251.7 million1. industry has grown rapidly in size and Australia’s commercial marine vessel range. Australian-built OSVs industry offers diversified capabilities, can be found servicing offshore tasks comprising of small, medium and as far away as the North Sea, with large-sized facilities situated across great success. the country. Factors that contribute to the industry’s success include effective quality control systems, excellent through-life support and after-sales support arrangements.

6 COMMERCIAL SHIPBUILDING AND SERVICES The Commonwealth Science and The Australian marine industry offers world for recreational, commercial INTRODUCTION Industrial Research Organisation and military purposes; and VEEM, • product design and development (CSIRO) is at the cutting-edge an engineering company known for, capabilities INDUSTRY OVERVIEW of transformational technology in among other products, gyro-stabilisers Australia’s manufacturing industry. In • cutting edge manufacturing and propellers for the marine, oil and GOVERNMENT response to a request from a leading technologies gas, aerospace and defence industries. cable manufacturer, Olex, CSIRO • superior repair and refit facilities A company at the forefront of maritime AND INDUSTRY developed a cable coating, a • internationally renowned marine safety is Liferaft Systems, whose , which transforms into a fire- ASSOCIATIONS architects and marine consultants liferafts and survival products are proof ceramic in a fire. This protects • ship/boat/yacht builders well known and used worldwide by electrical circuits for alarms, pumps recreational, commercial and military FURTHER and fans vital for safe evacuation and • manufacturers of a range of marine customers. INFORMATION firefighting, and could keep electricity equipment and accessories. flowing in a fire at temperatures above Australian marine equipment and There is some cross-over between the 1000˚C. In addition, all the materials accessory manufacturers have also recreational and commercial industries in the cable have low calorific value, gained global recognition for a diverse – particularly at the higher end of the which prevents a fire from advancing range of marine hardware, components market, where huge super yachts or spreading and minimises smoke and accessories, including marine and luxury vessels are often built for and hazardous gas emissions. ropes, winches, radars, buoyancy aids, commercial purposes. Fit out and Ceramifying could transform autopilots and dock flotation systems. refit expertise, as well as component design and operating systems, are fire prevention in ships. Australian success stories include Muir, most likely to service both markets. From the complex software used to which exports windlass and anchoring ensure the world’s largest ships don’t systems to 50 countries around the The case studies on the following touch the sea bed, to seemingly pages further highlight the ability and simple devices to make vessel diversity of the Australian industry. handling easier, many of the latest innovations in the industry have an Australian pedigree.

COMMERCIAL SHIPBUILDING AND SERVICES 7 INTRODUCTION Refit & dry docking Equipment/ auxiliary units INDUSTRY OVERVIEW Blasting & painting Large commercial ships/superyachts

GOVERNMENT Fuel/exhaust systems Ferries AND INDUSTRY ASSOCIATIONS Hydraulics & pneumatics Commercial Boats FURTHER

INFORMATION Refrigeration, air Offshore crew boats conditioning, heating MAINTENANCE, REPAIR AND OVERHAUL Electrical Offshore oil & gas COMMERCIAL SHIPBUILDING

Mechanical Commercial services

MARINE EQUIPMENT – Design & engineering services HARDWARE AND Mechanical & electrical ACCESSORIES

Chemical, marine coating, Composites & components anti-corrosion, varnish

Decking, flooring & furnishing Research, design & engineering Propulsion & engine systems Stabilisers, mooring and docking Protective & safety systems

Electronics & instrumentation

8 COMMERCIAL SHIPBUILDING AND SERVICES INTRODUCTION Australian Government Assistance INDUSTRY OVERVIEW The Australian Government is committed to helping international maritime companies take advantage of Australia’s unique capabilities. GOVERNMENT AND INDUSTRY The Australian Government provides Austrade helps companies around Both Austrade and Efic have worked ASSOCIATIONS support to Australian businesses the world to connect with the with some of Australia’s leading and buyers of Australian exports Australian shipbuilding industry and shipbuilding brands, such as Austal and through its specialist agencies – can introduce international buyers to Incat. These - and other case studies in FURTHER Austrade and Efic. Australian shipbuilders, suppliers and this brochure - demonstrate the depth service providers. of Australia’s expertise in this highly INFORMATION The two agencies provide customer- specialised segment. centric services and solutions to Efic is a specialist financier, offering engage and work with Australia’s buyer finance solutions to help For more information about Austrade world-leading shipbuilding industry, international businesses invest in and Efic’s services and solutions turn and their international clients and Australia’s high-quality shipbuilding to pages 33 & 35 or visit business partners. products and services. Austrade.gov.au Efic.gov.au

COMMERCIAL SHIPBUILDING AND SERVICES 9 Case Study: AirBerth boat lift storage systems AirBerth’s innovative boat lift system of heavy duty UV stabilised High Density The boat lift system is suitable for vessels is designed to protect boats from the Polyethylene (HDPE). The patented up to fifteen metric tonnes, as well as harsh marine environment; raising flexible cradle evenly distributes the multi-hull vessels such as catamarans. the boat out of the water to prevent weight of the vessel, ensuring maximum AirBerth boat lift systems have a proud fouling on the hull and saving metal stability, even in adverse weather export history emphasising the reliability parts from electrolysis. conditions. Importantly, it can also be and strong reputation of the product operated by a single person. The AirBerth is the ultimate in boat and company. protection for commercial applications The AirBerth system saves the Key AirBerth customers include the and has been associated with customer time and money in United States (US) Navy, US Coast leading government associations and maintaining the vessel and is Guard and the Australian Border Force. commercial operators around the world. estimated to have a 50-plus year lifespan. Corrosion is not a factor and AirBerth is the preferred system for The company is the winner of the 2015 marine growth has no impact, and commercial and maritime users as it Maritime Australia Limited Industry AirBerth eliminates the need to use maximises vessel deployment time, as Innovation Award and it’s easy to see toxic anti-fouling , which have well as the number of days a vessel is why. The AirBerth boat lift system’s well-documented adverse effects on available for deployment. unique innovative capability is based on the environment. its robust design combined with its use airberth.com

10 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of AirBerth

COMMERCIAL SHIPBUILDING AND SERVICES 11 Case Study: Ranger and Akuna IV, Hart Marine When Melbourne’s Port Philip Sea Pilots lessening the impact of residual PPSP initially ordered two vessels from (PPSP) decided to replace their ageing vibration. This improves working Hart Marine, the 14.4 metre Ranger fleet of pilot boats in 2010, they didn’t conditions for the vessel’s crew and and the 18.1 metre Akuna IV. Since have to look very far. passengers. The distinctive beak bow then, Hart Marine has built another is designed for wave piercing to reduce two vessels for PPSP, with a third to be All-weather boats that could withstand vertical accelerations, adding to pilot delivered in 2016. the rough seas of Bass Strait and The comfort, and to give early gaining of Rip, the notoriously difficult entrance Eight ports around Australia, plus buoyancy when the bow dips in a to Port Phillip Bay, were sourced just another in New Zealand, have since following sea. across the bay in Mornington, where chosen pilot boats from Hart Marine. Hart Marine builds the ORC pilot boat. The hull form minimises the ‘Venturi hartmarine.com.au effect’, where pressure differentials suck Designed by French naval a pilot boat’s hull to the side of a ship, architecture firm Pantocarene, the allowing for pilot transfer at greater ORC craft is of fibre-reinforced plastic travelling speeds. The unique fendering (FRP) construction and boasts a system softens contact between pilot self-righting capability. boat and ship, which increases the The futuristic Pantocarene design lifespan of the vessel and makes transit focuses on safety, comfort and easier for pilots. Coxswains enjoy the functionality for pilots and coxswains. increased manoeuvrability afforded by The wheelhouse is carried on oversized rudders. specialised vibration isolation mounts,

12 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of Hart Marine

COMMERCIAL SHIPBUILDING AND SERVICES 13 Case Study: Harwood Slipway, Harwood Marine Harwood Marine closed their northern Harwood Marine have invested heavily Harwood Marine has been working NSW Shipyard in October 2014 in their facility, with the recent upgrades internationally with the RDE Corporation and carried out a complete rebuild/ and with the acquisition of nearly 200 in Japan on a CO2/Fuel reduction refurbishment of the slipway in-water acres of adjoining vacant land, with green technology that utilises air foundations. approximately 1.5 kilometres of deep lubrication with microbubbles, and are water frontage on the Clarence River in now in negotiations to fit this system This was achieved by building a sheet the international-declared Port of Yamba. on a Japanese Cargo ship under a pile wall at the entrance of the cutting, joint venture with the inventor of the and pumping all of the water out, to Recent projects include heavy technology RDE Japan. expose the old slipway foundations engineering and marine support for built in 1969. All historical contaminants the local A$4.3 billion Pacific Highway The Harwood Slipway is one of the were removed under Environmental upgrade and new 1.4 kilometre long largest shipyards on the East Coast Protection Authority guidance and the Harwood Bridge, construction of two of Australia, and is centrally located, to old foundations were demolished and new aluminium ferries for Captain be a very strategic Australian Defence replaced. Cook Cruises Sydney, as well as Force sustainment hub to ensure regular cliental and vessel surveys. adequate vessel servicing for our The finished slipway was reopened South Pacific border force vessels. in January 2017, with an in-water Future works include US Navy foundation structure certified to 12,800 Defence contracts, construction harwoodmarine.com.au tonne, a cradle strength of 8,800 tonne, of four cargo passenger ships for and an estimated structure working life a European client, and various of 80 years. vessel conversions and refits.

14 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of Harwood Marine

COMMERCIAL SHIPBUILDING AND SERVICES 15 Case Study: Spear Green Design – International Marine Interiors Specialists Two new passenger ferries bound and equipment specified by Spear passenger vessel for Helgoland in Spear Green believes in the quality for China will shortly enter service in Green. The interiors are practical, Germany, built by Austal Ships of WA of product available in the Australian the Hong Kong region with luxurious functional, robust and beautifully and a stunning and unique hybrid supply chain, and utilises it whenever interiors designed by Sydney’s Spear unique, stylish and modern. powered luxury tourism vessel for possible. All of which means that for Green Design. Tasmania, being built in Hobart. All those travelling or working in a Spear These ferries are just two examples will incorporate high levels of comfort, Green designed interior, Australian The two Australian designed 40 metre, of the state-of-the-art interiors being features and amenity and will utilise marine design has never been better. 200 passenger vessels will service created in Australia for some of the technology transferred from the well-established passenger transfer world’s premium vessels. Spear Green speargreen.com.au aviation industry to ensure ultimate routes to mainland China. They will Design are experts at computer aided passenger comfort. boast leading-edge lighting effects and design – allowing the customer to superior levels of comfort, with business visualise the finished result in an The vessels will also share the Spear class passengers able to recline in fully extremely realistic way. Green Design trademark of Code leather upholstered luxury. Compliance and Lightweight Fitout, As well as the Chinese ferries for Hong which results in greater efficiencies and Economy class passengers will also Kong, Spear Green, which specialises reduced fuel burn over the life of the enjoy the opulence of leather in in marine interior design for new-build vessel. Their cutting-edge finishes and their aircraft-style reclining seating. and re-fit projects has also recently environmentally responsible furniture, The ferries have kiosks, modern completed design and specification fittings and equipment specification LED controllable lighting features works for several other vessels being will help the vessel owners gain market and superior amenity and efficient built and due for launch in Q1 2018. share in a competitive environment. traffic flow features, along with These include the marine interiors environmentally responsible finishes and exterior styling for a 56m / 692

16 COMMERCIAL SHIPBUILDING AND SERVICES Image courtesy of Spear Green Design

COMMERCIAL SHIPBUILDING AND SERVICES 17 Case Study: Creating bespoke luxury superyachts – Echo Yachts Echo Yachts, an Australian superyacht -infused vessel ever to be built steel, in any mono, catamaran or builder based in Western Australia, in Australia, with naval architecture trimaran hull form. In addition to full is currently building an 84 metre performed by LoMocean. design and build flexibility, Echo Yachts aluminium trimaran superyacht and has offer numerous contract types to clients The unique design of Charley provides recently completed a 46 metre resin- and designers, providing flexibility and extremely spacious interior and exterior infused FRP catamaran explorer vessel. value for money in the build process. accommodation and entertaining areas, Based at Echo Yachts’ purpose-built a very large carrying capacity for a echoyachts.com.au waterfront manufacturing facilities, the plethora of tenders and other water 84 metre trimaran project is designed toys, plus superior sea keeping and fuel by Sorgiovanni Design and is the efficient performance. largest trimaran superyacht project Echo Yachts’ in-house management, globally. The trimaran is also the design and manufacturing team is largest superyacht, as well as the first comprised of experienced industry diesel electric superyacht, ever to be professionals. The team have many built in Australia. years of expertise gained from the M/Y Charley is a custom-designed world’s leading shipyards and iconic and purpose-built catamaran using the superyacht projects. latest in 5 axis CNC and vacuum resin Echo Yachts offer world-class infusion manufacturing technology. experience, engineering, quality and Built at Echo Yacht’s superyacht attention to detail. The company are manufacturing facility near Fremantle, able to offer a full suite of vessel build Charley is the largest composite options in aluminium, composite and

18 COMMERCIAL SHIPBUILDING AND SERVICES Image courtesy of Echo Yachts

COMMERCIAL SHIPBUILDING AND SERVICES 19 Case Study: Birdon delivers innovative bridge construction boats Birdon Pty Ltd (Birdon) is a family- US$261 million. This was a result of four Capital Guarantee helped fund the owned marine engineering business years of design, tender submission and start-up operations to support Birdon’s that provides a diversified range of prototype trials, based on Birdon’s work contract for the manufacture and services including shipbuilding and with the Australian Army. delivery of BEBs. repair, dredging, and engineering and Phase one of the contract involved This provided Birdon with a global contracting services. the delivery of 25 BEBs. Following platform for controlled and profitable Birdon’s innovative boats facilitate successful delivery, Birdon entered full growth in international markets. bridge construction and are road, air production phase for up to a total of “Efic’s approach to fully assess and sea transportable. They are used to 374 BEBs. To help with the delivery of Birdon’s capability, past contract construct and manage pontoon bridges the project, Birdon established new performance and financial stability, for mobile armoured units, and are also manufacturing facilities in Denver, was a determining factor in persuading used to ferry military vehicles across Colorado. The Australian division the US Government to award the open water. provided key technical direction. contract to Birdon.” Birdon’s US subsidiary, Birdon America With Birdon’s Australian bank unable Jamie Bruce, CEO, Inc., won a contract for the construction to provide support due to geographic Birdon Group of Companies of up to 374 Series II Bridge Erection restrictions, Birdon approached the birdon.com.au Boats (BEBs) for the United States Australian Government’s export credit Army, with a contract value of up to agency, Efic. Efic’s Export Working

20 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of Birdon

COMMERCIAL SHIPBUILDING AND SERVICES 21 Case Study: Incat lightweight catamarans delivered in Europe Incat Tasmania Pty Ltd (Incat) is a One of the oldest ferry operators in “Efic’s role in providing financial support world-leading Australian shipbuilder the world, Virtu Ferries will be using is an important part of Incat’s export known for its high-speed lightweight the Incat vessel for their year-round business success. With a fast ferry catamarans. Sitting at the cutting lifeline service between Malta and the market that is the best it has been for edge of environmentally friendly craft, European Union. the past 10 years, we are aggressively Incat provide optimal lightweight ship pursuing new opportunities which will Needing a vessel to navigate rough solutions for ferry operators, special provide medium to long term certainty water conditions and offer their service providers and military. for our growing workforce well into the passengers the very best in reliability mid-2020s.” Over the past 25 years, Efic, the and comfort, Naviera Armas sought Robert Clifford, Australian Government’s export credit the qualities of Incat’s wave-piercing Founder and Chairman, Incat agency, has supported over 20 vessel catamaran for the Canary Islands. financings for Incat, and has seen incat.com.au Incat approached Efic to provide the business grow and develop over finance support for the delivery of the this time. contracts. Efic was able to provide the Incat secured export contracts for the supplier finance needed to help with delivery of two 100-plus metre, high- the construction of the ferries and allow speed wave-piercing catamarans for Incat to plan its forward orders. European operators Virtu Ferries and Naviera Armas. The combined contract value was approximately EUR150 million.

22 COMMERCIAL SHIPBUILDING AND SERVICES Image courtesy of Incat

COMMERCIAL SHIPBUILDING AND SERVICES 23 Case Study: Austal ferry for Scandinavia Austal Limited (Austal) is one of capacity of 404 cars, increased fuel The contract from Fjord Line is Australia’s leading shipbuilders and efficiency and improved manoeuvring Austal’s eighth very large high-speed defence prime contractors. Since 1988, capability in strong winds. commercial ferry (over 100 metres in Austal has delivered 266 vessels to length). The vessel will join Fjord Line’s The vessel will be operating on the more than 100 operators in 44 countries. fleet of four ferries operating in the Skagerrak Sea between Hirtshals, Scandinavian region following delivery Efic, the Australian Government’s Denmark and Kristiansand, Norway. from Austal’s Henderson, Western export credit agency, has been helping Passenger comfort was a key Australia, shipyard in January 2020. Austal win export orders since 1994 consideration for Fjord Line. Austal’s and has helped fund 18 contracts, vessel will provide customised layout “The support from Efic has helped comprising a total of 33 vessels worth and interior design focusing on delivering Austal grow internationally through the over A$1.234 billion. greater natural light, seating and public provision of competitive finance for our spaces – including retailing (duty-free customers and reliable, valuable advice Austal secured a A$108 million contract store) and entertainment areas. and professional support whenever and to design, build and sustain a new 109 wherever we needed it.” metre high-speed catamaran for Fjord Needing financial support to deliver on David Singleton, CEO, Line of Norway. the project, Efic provided Fjord Line Austal Limited with buyer finance to support vessel The all-aluminium ferry design construction and purchase. austal.com incorporates key innovations including Austal’s largest ever vehicle carrying

24 COMMERCIAL SHIPBUILDING AND SERVICES Image courtesy of Austal

COMMERCIAL SHIPBUILDING AND SERVICES 25 Case Study: Marine Engineering ferries in Fiji Marine Engineering Consultants (MEC) The business secured a contract with Efic, the Australian Government’s export provide complete engineering services. a cruise operator in Fiji for the supply credit agency, was able to provide They manufacture commercial vessels, of two 24-metre passenger catamarans support to the business through their aluminium catamarans, and can worth a total contract value of about online Small Business Export Loan. provide refit, repowers and project A$7.4 million. With fast access to funds, MEC management services. were provided the help needed to With long project delivery timelines successfully retain and expand their Since starting business 25 years and payment structures, MEC needed staff and facilities. ago, MEC has diversified its services access to additional working capital to from providing refits on pleasure and ensure it had the resources needed to “Efic’s support was critical in ensuring superyachts, to a business that is deliver on the export contract. that we were able to continue to build focused on boatbuilding. In the last ten our export business while delivering years MEC has constructed 19 luxury on our contract.” and commercial aluminium catamaran Murray Owen, Director, ferries and charter vessels for the local Marine Engineering Consultants and international market. marineeng.com.au

26 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of Marine Engineering

COMMERCIAL SHIPBUILDING AND SERVICES 27 Australian Shipbuilding and Repair Australian Commercial Marine The Department of Industry, INTRODUCTION Group (ASRG) is the recognised Group (ACMG) represents a group Innovation and Science (DoIIS) peak industry body representing the of Australian companies involved facilitates the growth and productivity INDUSTRY OVERVIEW Australian commercial, defence and in providing shipbuilding and repair of globally competitive industries, to other marine industry sectors. ASRG facilities and services and associated help build a resilient and dynamic GOVERNMENT represents and promotes the capability marine products to the commercial Australian economy. DoIIS works of the Australian shipbuilding and and defence shipbuilding industries. to achieve this goal by supporting AND INDUSTRY repair industry sectors to the domestic ACMG develops and promotes science and commercialisation, ASSOCIATIONS and international market. The group Australia’s international competiveness growing business investment and circulates details of enquiries and in the commercial marine sector. improving business capability; and potential export opportunities to all www.commercialmarine.com.au making it easier to do business in FURTHER members, and provides professional Australia. The Department of Industry advice relating to marketing and www.industry.gov.au INFORMATION and Science is an Australian support and including exports, government department helping international banking, insurance, port industry to become more efficient, security, legal, crew and other visas, competitive and innovative. tax including GST, environmental www.industry.gov.au issues, and classification societies. www.asrg.asn.au

28 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of BSE Maritime Solutions Photo courtesy

COMMERCIAL SHIPBUILDING AND SERVICES 29 INTRODUCTION REFERENCES 1. IBIS World (Nov 2016) Industry Report: INDUSTRY OVERVIEW Shipbuilding and Repair Services in Australia http://clients1.ibisworld.com.au/reports/au/ GOVERNMENT industry/keystatistics.aspx?entid=255# AND INDUSTRY 2. IBIS World (Nov 2016) Industry Report: ASSOCIATIONS Shipbuilding and Repair Services in Australia FURTHER http://clients1.ibisworld.com.au/reports/ au/industry/competitivelandscape. INFORMATION aspx?entid=255

30 COMMERCIAL SHIPBUILDING AND SERVICES Photo courtesy of CSIRO Photo courtesy

COMMERCIAL SHIPBUILDING AND SERVICES 31 Photo courtesy of BSE Maritime Solutions

32 ABOUT EFIC EFIC – AUSTRALIA’S EXPORT Finance solutions CREDIT AGENCY Efic is the Australian Government’s export credit agency. It supports Australian exporters with tailored financial Loans solutions to help them win Loans to exporters to support business, grow internationally export contracts or overseas and achieve export success. buyers of Australian goods and services. Efic works with a range of export businesses, from small to medium enterprises (SMEs) to large Insurance companies working on sizeable Export payments insurance, Guarantees projects. Efic operates on a to protect Australian Guarantees to exporters’ commercial basis and often works exporters against the risk of banks to fund overseas with banks to deliver solutions that non-payment due to certain buyers of Australian goods help companies take advantage of commercial and political and services, or to support global opportunities. risks for export contracts with working capital for an payment terms two years export contract. The eligibility criteria for the products and more. offered by Efic are similar to those of commercial banks and also include the following requirements: Bonds • The transaction has the necessary Bonds to help Australian level of Australian content. companies with their • There is a market gap due to security obligations under financing not being available from overseas contracts. the private market. • Efic’s due diligence requirements are met. For more information visit efic.gov.au

COMMERCIAL SHIPBUILDING AND SERVICES 33 Image courtesy of Incat Tasmania

34 COMMERCIAL SHIPBUILDING AND SERVICES ABOUT AUSTRADE The Australian Trade and Investment Commission – Austrade – is the Australian Government agency that promotes trade, investment and education, and develops tourism policy and research. Austrade helps companies around the world to identify and take up investment opportunities in Australia as well as to source Australian goods and services. Our assistance includes: • providing insight on Australian capabilities • identifying potential investment projects and strategic alliance partners • helping you to identify and contact Australian suppliers

Visit austrade.gov.au to find out more

COMMERCIAL SHIPBUILDING AND SERVICES 35 austrade.gov.au efic.gov.au