Navy

Full Speed Ahead for Navy Expeditionary Fast Transports

Last year, we made quick mention of the Navy's new designation for its JHSV class of vessels -- now called Expeditionary Fast Transports (but confoundingly abbreviated EPF). Designed as hulking catamaran "tin cans," with a thin aluminum shell wrapped around four powerful engines, and perched atop two runners, these vessels offer the Navy the ability to move simply massive numbers of troops and supplies at very high speeds, and at an affordable cost to boot.

And now the Navy is building more of them.

Austal shifts into high gear

As of the end of last year, the Navy had acquired about a half dozen EPFs for the Military Sealift Command. More are on the way, however, and soon. We know this because last week, in its daily digest of contracts awarded, the Pentagon announced that it has hired Australian shipbuilder Austal (NASDAQOTH:AUTLY) to produce two more EPFs, which will be Nos. 11 and 12 out of an anticipated purchase of 22 ships total.