Huntington Ingalls Industries' Newport News Shipbuilding Division receives a $407 million contract extension to a previously awarded John F. Kennedy (CVN 79) contract. The award of the contract extends the period of performance, adds additional efforts for engineering, planning and material procurement through Oct. 31, and authorizes additional manufacturing efforts. NNS is performing work on CVN 79 under a construction preparation contract that allows for engineering, planning, long-lead time material procurement and initial manufacturing to begin before the full construction contract is awarded. The full contract is scheduled to be awarded later this year. "This is a critical phase of construction on John F. Kennedy as key material procurement and production activities are taking place every day," said Mike Shawcross, NNS vice president, CVN 79 construction. "It is very important to get a good start on a ship of this magnitude and complexity, and this contract extension allows for those activities to continue and keep the ship on a path for success in meeting our customer's goals." John F. Kennedy (CVN 79) will continue the Ford-class legacy of highly capable U.S. Navy nuclear-powered aircraft carrier ship platforms. Ford-class enhancements incorporated into the design include flight deck changes, improved weapons handling systems and a redesigned island, all resulting in increased aircraft sortie generation rates
Newport News, Va. -- Huntington Ingalls Industries reported fourth quarter 2011 sales of $1.74 billion, consistent with the fourth quarter of 2010. The impact of a $10 million non-cash goodwill impairment finalization adjustment resulted in reported net earnings of $69 million for the quarter and $1.39 diluted earnings per share on a GAAP basis. Excluding the goodwill impairment adjustment in the fourth quarter, total operating margin was 6.6 percent, up from 6
Huntington Ingalls Industries (NYSE:HII) received a $504 million cost-plus-incentive-fee contract extension to continue engineering work associated with construction of the nuclear-powered aircraft carrier Gerald R. Ford (CVN 78). The company's Newport News Shipbuilding division is the prime contractor. Work performed under the contract includes the continuation of design-related activities and integration and system analysis for non-propulsion plant work.
Washington, D.C. – Representatives from more than 2,000 companies from around the country which provide parts and services for the construction and maintenance of aircraft carriers are meeting in Washington, D.C., this week to urge Congress to continue federal funding support for the U.S. Navy aircraft carrier programs. The parts and services suppliers are members of the Aircraft Carrier Industrial Base Coalition (ACIBC) and are meeting as part of the eighth annual Action Days Conference
Huntington Ingalls Industries reported first quarter 2013 revenues of $1.56 billion, relatively flat compared to the same period last year. Segment operating income for the first quarter was $120 million, compared to $101 million in the same period last year. Total operating income for the quarter was $95 million, compared to $80 million in the same period last year. Pension-adjusted operating income for the first quarter was $118 million, or 7
Huntington Ingalls Industries (HII) has reported first quarter 2014 revenues of US$1.59-billion, up 2.0 percent compared to the same period last year. Selected details from the financial report as follows: Revenues were $1.59 billion for the first quarter of 2014 Segment operating margin was 8.6 percent, a 91 bps improvement over Q1 2013 Total operating margin was 10.0 percent, up from 6.1 percent in the same period last year
The guided-missile destroyer USS Oscar Austin (DDG 79) located and assisted a distressed fishing vessel Feb. 14 while operating 140 nautical miles off the coast of Sicily in the Mediterranean Sea. The ship, which is part of the USS Theodore Roosevelt (CVN 71) Strike Group, was headed to Civitavechia, Italy, the next scheduled port of call, when its SH-60B Seahawk helicopter discovered the drifting fishing boat in distress.
Northrop Grumman reached its first construction milestone in the life of the new-generation aircraft carrier, CVN 21. The company cut one of the first pieces of steel, a 15-ton plate for a side shell unit of CVN 78, the first ship of the CVN 21 program. Design work on the CVN 21 is underway at Northrop Grumman's Newport News sector, with the full construction contract anticipated in 2007. Advance construction began in 2005 to allow shipbuilders to test the design-build strategy before
President Barack Obama sent Congress a proposed defense budget of $613.9 billion for fiscal 2013, Feb. 13. The request for the Department of Defense (DoD) includes $525.4 billion in discretionary budget authority to fund base defense programs and $88.5 billion to support Overseas Contingency Operations (OCO), primarily in Afghanistan. Of the discretionary budget, $155.9 billion represents the Department of the Navy's budget request. This is a decrease of $1
Huntington Ingalls Industries (HII) hosted U.S. Sens. Tim Kaine (D-Va.) and Jack Reed (D-R.I.) Tuesday for a tour of the company's Newport News Shipbuilding division. The visit provided the senators an opportunity to meet shipbuilders and see construction progress being made on all programs across the shipyard. Huntington Ingalls Industries President and CEO Mike Petters and Newport News Shipbuilding President Matt Mulherin were joined by Adm. M.E
Baltic Dry Index (BDI), which tracks the cost of shipping iron ore, coal, grain and other materials, is continuing to remain weak as Chinese imports of commodities especially iron ore and coal has gone down portraying dark futures for seaborne trade.
Almost three-quarters of all cruise passengers in the future could be Chinese, according to research by the Hong Kong Tourism Board (HKTB). The study reveals a potential 83 million cruise passengers in seven source markets within Greater China
Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said. The appeal of the shipping company that helped cement Singapore's status as a global trade hub has increased after it agreed to sell its logistics unit last month for US$1
EALs & Oil Spill Remediation: The Effects of EALs on Oil Spill and Discharge Reporting and Remediation In the wake of increased environmental scrutiny and potentially expanding liability issues, oil spill remediation continues to be of great interest to marine operations
Brent on track for biggest annual drop since 2008; stimulus measures from Japan, China lend some support. Brent crude oil rose to $60 per barrel on Monday, supported by concerns about disruption to exports from Libya, but a global supply glut kept prices nearly 50 percent off their peak for the
USS Carl Vinson (CVN 70) and embarked Carrier Air Wing (CVW) 17 Sailors were among the first to ring in the New Year during their Western Pacific/Arabian Gulf deployment Dec. 31, celebrating hours prior to friends and family in the ship's homeport of San Diego and across the U.S.
The Captain of the Port (COTP) Boston is establishing a temporary waterside security zone at the John Joseph Moakley Court House, Boston MA for the court proceedings of the Boston Marathon bombing suspect Dzhokhar Tsarnaev. The security zone will be effective and enforced starting on
Commander, Naval Air Forces (CNAF) held a change of command ceremony aboard the aircraft carrier USS John C. Stennis (CVN 74) at Naval Air Station North Island Jan. 22. During the ceremony, Vice Adm. Mike Shoemaker relieved Vice Adm. David H. Buss as CNAF.
The Port of Redwood City experienced a five percent increase in cargo movement across its docks for the first half of fiscal year 2014/2015 that ended December 31, 2015. Imported sand and aggregates accounted for 691,276 metric tons (MT)
Huntington Ingalls Industries (HII) was awarded a $224 million modification to an existing contract for advanced planning of the refueling and complex overhaul (RCOH) of the aircraft carrier USS George Washington (CVN 73). The work will be performed at the company's Newport News Shipbuilding
Neptune Orient Lines (NOL) reported a 2014 net loss of $260 million today, marking the third consecutive year in the red for the Singapore-based global shipping company. NOL, parent company of APL, did reduce its 2014 fourth quarter Core EBIT (Earnings Before Interest
Caterpillar Marine has shipped Cat® C8.7 supercharged diesel engines. The electronically-controlled C8.7 is capable of delivering an impressive 650 MHP @ 2300 RPM while meeting EPA Tier 3, IMO 2, EU Stage IIIA and RCD emissions requirements
Philippine Ports Authority (PPA) stated that utilization rate at the port of Manila is back to normal after the disruption of operations during the visit of Pope Francis to the country last month. The state-run PPA said in a statement that container yard utilization and vessel
Nine bodies were retrieved from a river in central Bangladesh on Wednesday, said Harun-ur Rashid, a regional police official, bringing to 79 the number of people known to have died when a ferry capsized on Sunday. The ferry, carrying 150 passengers and crew
The Nimitz-class aircraft carrier USS Theodore Roosevelt (CVN 71) departed its homeport in Norfolk for an around-the-world deployment, March 11. TR and its Sailors will conduct operations in the U.S. Navy's 5th, 6th and 7th Fleet areas of responsibility during the deployment.