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Contract Option

GD Gets Contract Option

The U. S. Navy has awarded General Dynamics Electric Boat, a business unit of General Dynamics, a $6 million contract option for the advanced procurement of on-board repair parts for the first four submarines of the Virginia Class. The work will be shared about equally between Electric Boat (55 percent) and Northrop Grumman Newport News (45 percent), Electric Boat's teammate in the Virginia-class construction, and will be completed by the end of 2007. The option is part of a $4.2-billion contract the Navy awarded Electric Boat in 1998 for the construction of the first four ships of the class.

COSCO Guandong Shipyard to Construct PSVs

Guandong China shipyard: Photo COSCO

COSCO Corporation (Singapore) Limited informs that its subsidiary COSCO (Guangdong) Shipyard has had contract options taken up for the construction of 4 Platform Supply Vessels (PSVs). The new vessels are scheduled for delivery from 2Q 2016 to 1Q 2017, and the shipowner has also secured options for two additional platform supply vessels of this type. The contracts for the PSVs have a total value of approximately US$ 120-million

CAE to Provide Automation System for Navy

CAE’s Marine Systems division has been selected to provide an automated ship control system for the U.S. Navy’s Littoral Combat Ship (LCS) program. The $3.6M contract was awarded by General Dynamics Advanced Information System. General Dynamics Bath Iron Works is the program’s prime contractor. A contract option could bring an addition al $2.2M.

Navy Orders Material for More Austal JHSVs

The U.S. Navy has exercised contract options funding Austal’s acquisition of long lead-time material associated with the construction of two additional 338 ft Joint High Speed Vessels (JHSV). The award is valued at $99.5m. Austal was awarded the initial contract to design and build the first 338 ft JHSV in November 2008. The contract included options for a further nine additional vessels to be awarded between FY09 and FY13 for a total value of up to $1.6b.

Grumman Awarded $102M for Sub Modernization

Photo courtesy Northrop Grumman

Northrop Grumman Corporation (NYSE:NOC) has been awarded a cost plus fixed fee contract option valued at $102.7m from the U.S. Navy for work on Los Angeles-class, Seawolf-class, Virginia-class and Ohio-class submarines, special mission submersible interfaces, submarine support facilities and related programs. The company's Shipbuilding sector in Newport News, Va. is the prime contractor and will provide engineering, design, configuration management, integrated logistic support

HII Gets USN Submarine Engineering & Industrial Work Contract

Huntington Ingalls Industries' Newport News Shipbuilding (NNS) division awarded the $142.7 million contract from the U.S. Navy. The contract option is for work on operational and decommissioning U.S. Navy submarines, conversion submarines, special mission submersibles, submarine support facilities and related programs. NNS is the prime contractor for the work, which will include engineering, design, configuration management, integrated logistic support, database management

FGH Receives $52 Million Worth Of Orders

Friede Goldman Halter (FGH) has signed nine contracts with a combined value of more than $52 million, excluding options. The contracts are outlined as follows: Halter has agreed with Foss Maritime for the construction of a 98-ft. (29.8 m) harbor tug, with options to build two additional vessels; a contract was also signed with an undisclosed foreign operator for construction of two high-speed passenger ferries, with options for two additional vessels; Sea Coast Towing has contracted Halter

Navy Announces Flight 0 LCS Contract Awards

Lockheed Martin Corporation – Maritime Systems & Sensors, Moorestown, N.J. ($46,501,821) and General Dynamics - Bath Iron Works, Bath, Maine ($78,798,188) are each being awarded contract options for final system design with options for detail design and construction of up to two Flight 0 Littoral Combat Ships (LCS). "Today’s Littoral Combat Ship decision represents an important milestone for the warfighter and the acquisition team," said John Young

Todd Pacific Shipyards to Overhaul Carriers

Todd Pacific Shipyards Corporation has been awarded a five-year contract with the United States Navy to provide long-term overhaul and maintenance to the NIMITZ CLASS aircraft carriers (CVN) homeported in Puget Sound. The contract consists of multiple contract options for planned incremental availabilities (PIA's), docking planned incremental availabilities (DPIA's) and continuous maintenance and upkeep for the USS LINCOLN (CVN-72), USS STENNIS (CVN-74)

USCG Awards Bollinger 3 Patrol Boat Contract

Artist’s rendition of the Sentinel Class 154 ft. Patrol Boat for the U.S. Coast Guard, being built by Bollinger Shipyards, Inc. (Photo courtesy Bollinger / Damen)

Bollinger Shipyards, Inc. announced that it was awarded a contract valued at over $142,000,000 to build an additional three Sentinel Class, 154-ft patrol boats, for the U. S. Coast Guard.  The initial contract for the design and construction of the lead ship in the class was awarded to Bollinger in September 2008. Under the current contract options, the Coast Guard can buy up to thirty-four patrol boats with Bollinger for a total value of over $1.6b.

General Dynamics Wins USN Submarine Deal


  The U.S. Navy has awarded a $321.7 million contract option to General Dynamics Electric Boat to provide planning yard work, engineering and technical support for nuclear submarines. Electric Boat is a wholly owned subsidiary of General Dynamics.

Sevan, Cosco Agree Rig Delivery Delay

Image by Sevan Drilling ASA

 Norway-headquartered drilling contractor Sevan Drilling and Chinese shipbuilder Cosco Corporation have agreed to delay the end of the first deferral period for cylindrical ultra deep water drilling rig Sevan Developer from 15 October 2015 to 1 November 2015.  

Cosco Compensates Sevan

Image: Sevan Drilling ASA

 COSCO Corp (Singapore) will refund $26.3 million, or 5 percent of the contract price, plus associated interest to Sevan Drilling by December 1, 2015.   Sevan Drilling and Cosco have agreed to exercise the first six-month option to extend the deferral agreement to April 15, 2016

BMT – DoT Partnership Extended

BMT JFA Consultants has completed number of projects  courtesy BMT JFA

  BMT JFA Consultants, together with sister company BMT Oceanica, subsidiaries of BMT Group (BMT), have announced that the Western Australian Department of Transport (DoT) has taken up the Contract option to extend its current contract for a further two years.  

COSCO to Build Livestock Carrier

Cosco to Build Livestock Carrier

  The Board of Directors of COSCO Corporation (Singapore) Limited have informed that COSCO (Guangdong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract valued at approximately USD30 million from a European

Scorpio Bulkers Modifies and Sells Shipbuilding Contracts

Scorpio Bulkers Inc. announces agreements to modify and sell existing shipbuilding contracts for six capesize vessels    Scorpio Bulkers Inc. has reached agreements with shipyards in South Korea and Romania to modify six newbuilding contracts for Capesize bulk carriers into newbuilding

Shipbuilding: Yangzijiang bags 13 New Orders

Yangzijiang Shipbuilding

China's Yangzijiang Shipbuilding has entered into 13 shipbuilding orders in the fourth quarter of 2014, of which nine were effective orders with a total contract value of US$388 million, brining total orders for 2014 to a record US$1.8 billion 

Otto Marine Secures Charter for Two PSVs

Photo: Otto Marine Limited

 Singapore’s Otto Marine has secured two long term charter contracts for two PSVs to an oil major in Australia, with the value of the contract worth $64m including options.  The 36-month charter contracts (including options) involve two 4,000-dwt platform supply vessels

Transocean Shares Poised for Big Move

Photo: Transocean

Transocean Ltd shares are expected to move about 8 percent in either direction following its earnings results on Wednesday, options data showed, but positioning among traders suggests some worry.   This would be the biggest post-earnings move for the shares in at least eight quarters.

Viking Bags Charter Deal for AHTS Brage Viking

Brage Viking Courtesy Viking Supply Ships

  Viking Supply Ships has entered into a contract with an Oil major for the charter of “Brage Viking” commencing 1stof April 2015. The duration is for 2 years and 8 months firm, plus options to extend the contract with a total of 18 months

New deal for Viking’s AHTS 'Vidar Viking'

Courtesy Viking Supply Ships

  Viking Supply Ships has entered into new contract for the Ice-breaking Anchor Handling Tug Supply (AHTS) vessel Vidar Viking. The final option of the existing contract for the vessel Vidar Viking, which secures work until 1 December 2015, has been exercised

Havila Extends Niche Deal with Maersk

Platform supply vessel (PSV) by Havila Shipping ASA.

Havila Shipping ASA has seen Maersk Oil & Gas (MOG) extend an option for a vessel, allowing the company to avoid the weak North Sea spot market for 12 more months.   Maersk Oil and Gas Company declared the first of three one year options for the Platform Supply Vessel (PSV) Havila

Sentinel Orders ERRV at Cosco Guandong

Image: consultoría

 China's COSCO (Guangdong) Shipyard has secured a contract from Aberdeen-based Sentinel Marine to build a TAERRV (Tanker Assist / Emergency Response / Rescue / Field Support Vessel).   Cosco says the vessel’s expected delivery date is in the first quarter of 2017

L-3 Receives Award for U.S. Navy EOSSs

L-3 KEO announced  it has been awarded a multi-million dollar contract option from the Naval Sea Systems Command (NAVSEA) for nine MK 20 Electro-Optical Sensor Systems (EOSSs). L-3 KEO will build and test the systems, as well as perform engineering services activities

HII Awarded US Navy Sub Maintenance Work

The submarine USS Columbus (SSN 762), seen here in the Republic of Korea in 2014, will undergo maintenance and modernization at HII’s Newport News Shipbuilding division. Work is expected to be completed in May 2019. (U.S. Navy photo)

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has been awarded a $57.8 million contract to perform planning in support of maintenance and modernization efforts on the submarine USS Columbus (SSN 762)

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