I noticed Rep. Joe Courtney mentioned the role Austal might play in delivering Australia's submarine program capacity on ABC Insiders today. He was largely musing but bearing in mind the US government footed the bill for around half the capex into building Austal's steel ship building facility in Alabama (they have until now been an Aluminum hull specialist) it's an interesting thought starter.

I find myself thinking and talking more about tailwinds in this environment and having key US lawmakers thinking actively about your role in the landscape probably can't hurt (Bubs might be a notable exception). Lots of counter arguments too - fitsy it's very first order thinking plus even if they prove to be a big winner from increased Aust. defense spend I'm not sure how it would look to have a few companies getting a massive windfall from the taxpayer's purse.

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Austal had a bad day yesterday after being jilted by the Philippines Navy during negotiations to build Offshore Patrol Vessels. Evidently Austal thought their proposal was too good to refuse, particularly with the dowry of a Philippines-based ship building yard already delivered. Unfortunately their erstwhile partner decided there are plenty of other fish in the sea and is planning to play the field to fulfil their needs. Meanwhile Austal looks like having to downgrade its ambitions and settle for attracting some commercial ferry work to the Philippines shipyard. The market sympathised by lopping a good 10% off the share price.

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