Chairman Bruce Carter – who oversaw the company’s profit of more than $20 million over the past financial year on the back of a $3.8 million loss the previous year – has been reappointed until the end of 2018.

US shipbuilding expert Mark Lamarre has been appointed chief executive of ASC Shipbuilding after being in the job on an interim capacity since January.

German, French and Japanese shipbuilders have submitted bids for the right to build Australia’s next fleet of submarines and the winner is expected to be announced next year.

AAP