The bankrupt Hawaii Superferry weighed on the earnings of Austal Ltd., the Australian-based parent company of the Louisiana shipyard that built vessels for use by the interisland ferry.

Austal reported net profit fell 82 percent because it was forced to write down the debt it held in the Superferry, which shutdown operations and subsequently filed for bankruptcy on May 30. Austal’s net profit fell to Australian $9.2 million from $52.3 million a year earlier.
The company said its earnings would have been higher if not for a $25 million write off on the Superferry . It said the company could recoup some of its investment if the Superferry’s vessels are sold for more than $112.7 million.