Austal said it reached an agreement with the United States Navy to resolve its request for equitable adjustment (REA) relating to the towing, salvage, and rescue ship (T-ATS) program at the company’s Alabama shipyard.
The program, awarded in September 2021, was Austal’s first steel shipbuilding contract for the US Navy. It began as a fixed-price incentive contract worth $145 million for two vessels (T-ATS 11 and 12). Options exercised later increased the order to five ships (T-ATS 13 to 15), bringing the total contract value to $380 million.
