Incat is starting work on a another fast vehicle ferry for Danish company Mols Linien.
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The Tasmanian ship builder secured the contract for the delivery and long term charter of the vessel, making it the fourth Incat vessel in the fleet.
Incat chairman Robert Clifford said it was proof of the quality and reliability of the vessels his team were building in Tasmania.
''This is the third Incat ship that Mols Linien have added to their fleet in a period of just four years,'' Mr Clifford said.
''The 250 production staff are currently building four passenger vessels for Manly Fast Ferries, with another six boat order for Sydney Ferries to commence in 2016.
"This new large ship order will secure work for an expanded workforce for at least a further two years,'' he said.
The ship is due to be completed by the start of 2017.