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Exercises Option

New Navy Contract

Northrop Grumman Shipbuilding, Pascagoula, Miss., is being awarded an $18,604,845 modification to previously awarded contract (N00024-07-C-2302) to exercise options for the accomplishment of follow yard class services for the DDG 51 class AEGIS Destroyer Program and will provide expert design, planning and material support services for both DDG 51 ship construction and modernization. Work will be performed in Pascagoula, Miss., and is expected to be completed by August 2010. Contract funds will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.


Singapore's JES Holdings' PSV Newbuild Option Taken Up

UT 755 LN Design PSV: Photo credit: E.R. Schiffahrt GmbH

JES International Holdings Limited reports Norwegian customer has exercised option for four more UT 755 LN Platform Support Vessels (PSV's). The ships will be delivered in early 2015.
 “The group is thrilled that our expansion plans into the offshore space have taken off, and is making good progress. As the requirements for offshore shipbuilding are much more stringent, the group will be making strides in our technical capabilities as well as yard management,” said Jin Xin


Aker Solutions Wins Cat D Drilling Equipment Contract

Aker Solutions has received a Letter of Award from Daewoo Shipbuilding & Marine Engineering (DSME), to supply a further two drilling equipment packages to the 'Category D' drilling rigs the yard is building for the rig operator Songa Offshore. The contract value is undisclosed. The development of the Cat D semi-submersible drilling rigs has been initiated by Statoil, the international energy company. The Cat D drilling rig is a new generation drilling and well intervention vessel


Austal Awarded Navy LCS Assessment Contract

LCS 4 Christening: Photo credit Austal USA

Austal USA gains additional Littoral Combat Ship (LCS) work contract. The United States Department of Defense has announced that Austal USA has been awarded a US$19.987-million modification to a previously awarded Littoral Combat Ship (LCS) contract. The modification exercises options for class service efforts and special studies, analyses and reviews for the LCS program. Austal USA will assess engineering and production challenges, and evaluate the cost and schedule risks


Ardmore Contracted for Chemical Tanker Newbuilds

Ardmore Shipping Corporation announced that it has been contracted for the construction of four 25,000 Dwt IMO 2 eco-design product and chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (Fukuoka) for a total price of approximately $118 million. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015


Latest DofD Navy Contracts

USNS Supply: Photo credit MSC

BAE Systems, Bath Iron Works, and Electric Boat Corp figure in the latest US Department of Defense, Navy, contracts issued, as follows: BAE Systems Southeast Shipyards Alabama LLC, Mobile, Ala., is being awarded a $32,946,457 firm-fixed-price contract for the regular maintenance and overhaul of USNS Supply (T-AOE 6). This contract includes two additional options which, if exercised, would bring the cumulative value of the contract to $42,499,988.  Work will be performed in Mobile, Ala


Marinette Marine Wins Navy Deal

Marinette Marine Corp., Marinette, Wis., is being awarded $125,968,000 to exercise an option under a previously awarded firm-fixed-price contract (N00025-03-C-0002) for the manufacture of the improved Navy lighterage system to be delivered at Naval Amphibious Construction Battalion One, Coronado, Calif. and Naval Amphibious Construction Battalion Two, Little Creek, Norfolk, Va., Expeditionary Warfare Training Group Pacific and Blount


Todd Shipyards Announces Notification Decommissioning

Todd Pacific Shipyards Corporation has been informed by the US Navy that the USS Sacramento (AOE 1), is scheduled to be decommissioned on or about October 1, 2004. The Sacramento is one of the four AOE class ships originally covered by the Company's six-year, cost-type contract with the Navy, under which the Navy has options to have Todd Pacific perform maintenance work on the ships. The contract, which is the Company's fourth consecutive


General Maritime Announces Exercising of Three Time Charter Options On Aframax OBO Vessels

General Maritime Corporation today announced that a leading international trading company has exercised its option to time charter three additional Aframax OBO vessels for two years. The contracts for the these three vessels will provide net voyage revenue to General Maritime in the first year of approximately $21 million and could provide an additional $21 million in the second year through the exercising of the charterer's option


AOD to Build KFELS Jackup Rig

Keppel FELS Limited's repeat customer, Asia Offshore Drilling Limited ("AOD"), has exercised its first of two options to build a KFELS B Class jackup rig worth $184 million. The effectiveness of this first option is subject to AOD or its wholly-owned subsidiary entering into a construction contract with Keppel FELS and fulfilling certain conditions precedent. This rig will be AOD's third with Keppel FELS and is scheduled for delivery in 3Q 2013


Statoil Exercises Skandi Vega Option

Skandi Vega (Photo: DOF ASA)

DOF ASA announced that Statoil has exercised its first one year option for the 2010-built anchor handling tug supply vessel (AHTS) Skandi Vega.   The option also includes ROV, DOF ASA said, noting that the vessel is firm until mid-May 2016.  


Construction Vessel Delivered to Eidesvik Offshore

Photo: Eidesvik Offshore

Eidesvik Offshore has taken delivery of Viking Neptun, an offshore construction vessel from Kleven Verft AS.   According to Eidesvik Offshore, TBN Viking Neptun is represents its largest ever investment in the subsea segment. A long-term loan facility of $124 million has been drawn with


Puget Sound Container Volumes Slide

Photo: Port of Seattle

The ports of Seattle and Tacoma saw combined container volumes fall 13 percent in January, continuing a trend that started in November.   The Puget Sound gateway handled 226,906 20-foot equivalent units (TEUs) last month. Containerized imports plunged 21 percent to 89,982 TEUs


NMM lines up Box Buy

Courtesy of Navios Maritime Partners

  Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration, an option to acquire a 2012 South Korean-built container vessel of 13,100 TEU from an unrelated third party


Detyens Wins $14.7m Navy Contract

Detyens Shipyards, Inc.,* Charleston, South Carolina, is being awarded a $14,737,872 firm-fixed-price contract for a 170-day dry-docking and overhaul of USNS Zeus (T-ARC 7). This contract includes nine options, which, if exercised, would bring the total contract value to $17,199,024


General Dynamics: $19M for Sub Planning Services

The U.S. Navy has awarded General Dynamics Electric Boat an $18.9 million contract modification to perform reactor-plant planning yard services for nuclear submarines and support-yard services for moored training ships. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).


Lamprell to Deliver 2 Additional Rigs for NDC

NDC Chief ExecutiveOfficer, Abdalla Saeed Al Suwaidi, and Lamprell Chief Executive Officer, Jim Moffat, shake hands after signing the contract award for two further high specification jackup drilling rigs which NDC awarded to Lamprell

Lamprell received a new contract award valued at approximately $365 million from National Drilling Company (NDC) for the construction and delivery of two further high specification jackup drilling rigs of a Super 116E (Enhanced) Class. Lamprell was previously awarded contracts by NDC for a


Maersk Drilling gets Extension for Jack-Up

file image: a Maersk offshore asset.

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute. Each of the four additional wells has an estimated duration of around 90 days implying an extension


Seabourn Orders Another Ultra-Luxury Ship

Richard D. Meadows

Seabourn has announced that it has exercised its option for a second new 40,350-GRT ship to be built by Italian shipbuilder Fincantieri S.p.A. It will be a sister ship to the newbuild announced earlier this year. The first new Seabourn ship is scheduled for delivery in late 2016


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


Ship Finance Sells Drillship to Seadrill

Ship Finance International Limited announced that Seadrill Limited has exercised a purchase option for an ultra-deepwater drilling unit.   Ship Finance acquired the West Polaris in 2008 and chartered it to a subsidiary of Seadrill on a long-term bareboat charter where Seadrill was granted


Expiry of Tendrara Option Agreement

Logo

  Following the announcement of 10 December 2014, the board of Fastnet has elected not to exercise the option to farm into the Tendrara Lakbir Licence onshore Morocco. The option expired on 31 December 2014.   Carol Law, newly appointed CEO of Fastnet said:  


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 


ENI Extends Contract with Ocean Rig

Photo: Ocean Rig

Several of Ocean Rig UDW Inc. subsidiaries have entered into an omnibus agreement with ENI Angola S.p.A pursuant to which ENI has exercised its option to extend the contract for the drillship Ocean Rig Poseidon for a further one year until the second quarter of 2017.  


LR2 Product Tanker Joins Scorpio Tankers' Fleet

Scorpio Tankers Inc. Announces Delivery of a Newbuilding LR2

  Scorpio Tankers Inc. today took delivery of STI Alexis, an LR2 product tanker from Daehan Shipbuilding Co. Ltd. This vessel will begin a voyage for 52 days at approximately $33,500 per day. The Company has also exercised an option to extend the charter on one of its time chartered-in






 
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