Austal has firmed up a newbuilding order for an 83 metre trimaran fast ferry for Japanese principals, the company confirmed Monday.

JR Kyushu Jet Ferry will pay AUD 68m ($52.8m) for the vessel which is due to be delivered to Japan in the summer of 2020.

The firm newbuilding contract follows on from a memorandum of understanding (MOU) signed between the two companies in early December 2017.

“This contract is an outstanding start to 2018 for Austal, following a record year for commercial vessel sales in 2017,” said Austal chief executive David Singleton.

Austal said the order marks the first high-speed trimaran ferry it has placed in to Japan.

“With nine Austal trimarans already in operation around the world, another seven under construction and now five on order, it’s fair to say we are seeing a transformation in the market – and genuine customer enthusiasm for the proven technology, efficiency and capability of our design,” the shipbuilder said.

The trimaran, which will have a capacity for 502 passengers and an operational speed of 37 knots, will service JR Kyushu Jet Ferry’s key strategic route between Fukuoka, Japan and Busan, South Korea.