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Contract Extension

$1.3M Contract Extension for AMSC

American Superconductor Corporation received a $1.3m contract extension for its second generation (2G) high temperature superconductor (HTS) wire from the U.S. Department of Defense (DOD). The contract was awarded by the Office of Naval Research (ONR) and funded by the Defense Advanced Research Projects Agency (DARPA). This most recent extension represents the sixth contract or contract extension American Superconductor has received for 2G HTS wire development over just the last 10 months and brings the total dollar amount of all AMSC government contracts and contract extensions for this purpose to approximately $8.1m in that timeframe. Targeted DOD applications for 2G HTS wire include ship propulsion electric motors and generators, degaussing cable systems, non-lethal weapons and power distribution systems for warships. AMSC is actively involved in developing components or systems for each of these applications.


Transocean Rig Deepwater Horizon Extension

Transocean Ltd. (NYSE:RIG) announced that its ultra-deepwater semisubmersible rig Deepwater Horizon has been awarded a three-year contract extension by a subsidiary of BP p.l.c. (NYSE:BP) for operations in the U.S. Gulf of Mexico commencing in September 2010. Estimated contracted revenues related to the three-year contract extension are approximately $544m. Estimated contract revenues represent the maximum amount of revenues that may be earned in the firm contract period


Lockheed Martin $24M Anti Sub Systems Contract

Advanced acoustic processing and tracking capabilities provided by Lockheed Martin (NYSE: LMT) will enhance underwater surveillance and help increase situational awareness for the U.S. Navy fleet. Lockheed Martin has been awarded a follow-on contract from the Navy's Space and Naval Warfare Systems Command to provide technology updates and new concepts to detect and track submarines. This contract extension is valued at $24m.


North Sea, UK Sector, Contracts for KCS Deutag

KCA Deutag has won significant subsea drilling operation & maintenance contracts from core clients Total E&P UK, EnQuest & CNR International (CNRI). The company was awarded a contract with Total E&P UK to provide drilling operations and maintenance services on the Alwyn North and Dunbar platforms.  Both contracts have already commenced and have a firm two year commitment with options for an extension of up to two years.


Newbuild Jack-up Rig Charter Exended

Maersk Drilling receives two-year term extension for newbuild jack-up rig 'XL Enhanced 2'.   Det Norske Oljeselskap ASA (Det norske) has on behalf of the partners in the Ivar Aasen project, exercised its contractual right to extend the contract for the newbuild ultra harsh environment jack-up, XL Enhanced 2, by two years. Consequently, the duration of the firm contract is now five years. The estimated value of the two-year contract extension is approximately USD 280 million


Huntington Ingalls Awarded Additional Funds For CVN 79 Construction

CVN Modular unit: Image courtesy of HII

Huntington Ingalls Industries informs that its Newport News Shipbuilding division has received a US$1.295 billion extension to a previously awarded construction preparation contract for the aircraft carrier 'John F. Kennedy' (CVN 79). The contract extension enables Newport News to complete an additional 343 structural units and purchase the majority of the remaining material for the ship, including items such as valves, controllers, pumps and raw materials


Seabulk,Tesoro Extend Tanker Deal

Seabulk International, Inc. announced the extension of time charters with Tesoro Maritime Company on two of its U.S.- flag double-hull tankers through July 2010. Operated by the Company's marine transportation subsidiary, Seabulk Tankers, the 46,000-ton Seabulk Arctic began her original Tesoro charter in the summer of 2000, followed by her sister ship, the Seabulk Pride, in the summer of 2001. The two state-of-the- art vessels provide petroleum transport service for three refineries owned


Transocean Gets Extension for Drillship

Transocean Inc. announced that BP America Production Company (BP) has awarded the company's Fifth-Generation Deepwater drillship, Discoverer Enterprise, a three-year contract extension which is expected to commence in December 2007, in direct continuation of the rig's current contract commitment, also with BP. The rig is expected to be utilized in the U.S. Gulf of Mexico, with revenues possible over the three-year contract period of approximately $569 million


SCRA-Led Shipbuilding Program Awarded $1.7m

SCRA announced a contract award totaling $1.7 million for the Shipbuilding Center of Excellence.  The Center, known as the Center for Naval Shipbuilding Technology (CNST), is a Navy ManTech Center of Excellence, chartered by the Office of Naval Research (ONR) to develop advanced manufacturing technologies and deploy them in U.S. shipyards.  CNST is managed and operated by SCRA affiliate ATI (Advance Technology International).


Transocean Provides Fleet Update Summary

Transocean Ltd. today issued a monthly fleet update summary which includes newly signed contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 days or longer for all rig classifications since the previously issued comprehensive fleet status report or fleet update summary.   Significant highlights include the following:   Deepwater Expedition - Awarded a two-year contract with an undisclosed customer commencing


PD&MS Energy Secures Contract Extension

Fairfield Dunlin (courtesy of  PD&MS)

PD&MS Energy has been awarded an offshore contract extension for engineering work on Fairfield Energy’s North Sea assets. Following an initial three-year contract, the options will see the Aberdeen-headquartered firm provide engineering


General Dynamics to Continue ACV Testing

General Dynamics logo

  General Dynamics Land Systems, a business unit of General Dynamics is continuing work on an Amphibious Combat Vehicle (ACV) solution for the U.S. Marine Corps. The recently awarded five-month contract extension, valued at $7 million


PMA & ILWU Talks Recessed until Aug. 4

  The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) today issued the following statement:   After several days of productive contract talks, both parties concluded negotiations on Friday afternoon.  


Leighton HY14 net margin Up to 2.7%

The Leighton Group reported an increase in total revenue

  Leighton Holdings announced its results for the six months to 30 June 2014.   * Total revenue of $11.9 billion, up on HY13 * EBITDAiii of $843 million. Comparable EBITDAiv of $945 million, up on HY13 * NPAT of $291 million. Underlying NPAT of $319 million, up on HY13


Bibby Renews Contract with Talisman Sinopec Energy U.K.

DSV Bibby Topaz

Aberdeen-based subsea installation contractor Bibby Offshore has secured a contract extension worth in excess of £100 million,with Talisman Sinopec Energy UK. A further three years with a one year extension option has been signed, making this the longest fixed term contract to be secured


Offshore Rig's Canada Deployment Costs Seadrill

West Aquarius rig: Photo courtesy of Seadrill

Seadrill Limited subsidiary, Seadrill Partners, as part of a settlement agreement, has agreed to non-payment for 37 days hire of the semi-submersible rig 'West Acquarius'. The 37 days off hire were required for the ultra-deepwater harsh environment semi-submersible West Aquarius to complete


Transocean Fleet Status Report Update

Company drillship: Photo courtesy of Transocean

International provider of offshore contract drilling services for oil and gas wells, Transocean Ltd. has issued the report which provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The total value of new contracts since the September 18


Port of Baltimore Fully Open: Latest Update on Dispute

Photo courtesy of Port of Baltimore

Workers have agreed to a 90-day extension on local contracts following talks between Local 333 of the International Longshoremen’s Association and the Steamship Trade Association of Baltimore Inc., reports Bloomberg, citing a statement by Richard Scher


Transocean's Latest Rig Fleet Update

Polar Pioneer: Photo courtesy Transocean

Transocean inform that the total value of new contracts since the September 18, 2013 Fleet Update Summary is approximately US$2.0-billion. The company has been awarded a five-year drilling contract for a newbuild dynamically positioned ultra-deepwater drillship by Chevron U.S.A. Inc


Marlink Inks Deal with Neste Oil

Marlink to provide services to all eight Neste Oil vessels.

Neste Oil extended its VSAT services with Marlink while upgrading its network and on board satellite hardware. As part of the contract extension, Marlink is installing new VSAT antennas on all eight Neste Oil vessels whilst migrating the fleet to the established iDirect platform.


Aker Solutions Holds Its Own in Q4 2013

Image courtesy of Aker

Financial Highlights in the fourth quarter of year 2013 were as follows: Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1


Transocean Latest Offshore Drilling Rig Fleet Summary

Image courtesy of Transocean

Transocean Ltd. has issued its monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since February 18, 2014.  The total value of new contracts since the February 18


UK Transport Dept. Extends Contract with BMT

BMT RCL_Image 2 (low rez).jpg

BMT Reliability Consultants (BMT)  has announced a one year contract extension with the UK Department for Transport (DfT).  BMT will continue working with the DfT to provide maritime statistics support, as part of the statutory legislative requirements set out in the Maritime Statistics


Subsea 7 S.A. awarded $160 mln contract in Gulf of Mexico

Subsea

  Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a three-year US$160 million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the US Gulf of Mexico.


Transocean Provides Fleet Update Summary

Photo: Transoceean

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts and changes in estimated planned out-of-service time of 15 or more days since April 17, 2014. The total value of new contracts since the April 17






 
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