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Exercises Option

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, chairman and ceo of JES. 


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


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


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


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


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


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


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


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


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


ONR Funds UW Oceanographic R/V Refit Contract

Thomas G. Thompson : Photo UW

The US Department of Defense informs that the University of Washington (UW), Seattle, Washington, is being awarded a $12,776,050 cost reimbursement contract for mid-life re-fit overhaul of Ocean Class Oceanographic research vessel 'Thomas G. Thompson' (AGOR 23).


Oceaneering Exercise Charter Options on DP2 CSV

Bourbon Oceanteam 101: Photo Oceanteam Shipping

Oceanteam Shipping ASA says that Oceaneering International, Inc. has exercised both one year options on the CSV 'Bourbon Oceanteam 101' up to February 2017. The vessel will continue its field support services for work offshore Angola on blocks 18 and 31.


General Dynamics Wins U.S. Navy Nuclear-Submarine Contract

General Dynamics to Provide U.S. Navy with Nuclear-Submarine Support Work

  The U.S. Navy has awarded a $234 million contract to General Dynamics Electric Boat to provide planning yard work, engineering and technical support for nuclear submarines. The contract has a total potential value of $1.5 billion over five years if all options are exercised


Central Texas College Awarded Navy Education Contract

Exam room: File photo

The US Department of Defense inform that Central Texas College, Killeen, Texas, is being awarded a $9,410,083 indefinite-delivery/indefinite-quantity, firm fixed-price task orders contract for the provision of education courses to sailors, both instructor led and distance learning


Fastnet Announces Improvement of Deep Kinsale Option

Logo

  Fastnet the UK and Irish listed E&P company focussed on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, is pleased to announce that it has entered into an amended exclusive option agreement with PSE Kinsale Energy Limited ("Kinsale Energy")


Roxi Announces Exercise of Options

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  Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, announces that following the exercise of options 1,000,000 new shares ("Option Shares") have been issued.                 &nb


Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced today that it has terminated the charter parties of M/T EShips Taweelah


Vigor Awarded USS Emory S. Land Drydock Contract

 USS Emory S. Land (AS 39): Photo in public domain

The U.S. Department of Defense informs that Vigor Industrial, LLC, of Portland, Oregon, is being awarded a $16,984,940 firm-fixed-price contract for a 120-calendar day regular overhaul and dry docking of USS Emory S. Land (AS 39). Work will include No. 1 and No


Exercise of Options : Roxi Petroleum Plc.

  Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, announces that following the exercise of options 125,000 new shares ("Option Shares") have been issued. Roxi will apply for these 125,000 Option Shares to be admitted to trading on AIM and it is


River Towboat Pair Order for Gulf Island Fab

Towboat: Photo courtesy of Gulf Island

Gulf Island Fabrication, Inc. (GIFI) informs that through its subsidiary Gulf Island Marine Fabricators, L.L.C., it has signed a contract for the fabrication of two 8,000 bhp twin screw diesel-engined river towboats. Revenue backlog and man-hours associated with this project will be reported in


Fastnet to Farm in Tendrara Lakbir

Fastnet to farm in Tendrara Lakbir

  Fastnet, the UK and Irish listed E&P company focussed on near term exploration and appraisal acreage in Morocco and the Celtic Sea, announced that its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited (Pathfinder) has entered into an amended exclusive option agreement


Scorpio Tankers Update Finance & Newbuilding News

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers inform of a new $150 million stock buyback program; initial purchasers' exercise of their option to purchase additional $60 million in convertible senior notes due 2019, and newbuilding vessel deliveries. Main points follow: New $150 Million Stock Buyback Program


Maersk Line Awarded Sealift Command Contract Modification

U.S. Navy ocean surveillance ship: Photo USN

The U.S. Department of Defense informs that Maersk Line, Ltd., Norfolk, Virginia, is being awarded a $7,103,568 modification under a previously awarded firm-fixed-price contract (N00033-13-C-2505) to exercise a 92-day option for the operation and maintenance of five U.S


NAO Exercises Option to Purchase Shares

Nordic American Offshore Ltd. (NAO) announced that the underwriters of the company's initial public offering, which closed on June 17, 2014, have exercised in full their option to purchase an additional 882,352 common shares. The sale of these common shares isexpected to close on June 26, 2014


Nordic American Offshore Prices IPO

File photo

Nordic American Offshore Ltd. says it has priced its initial public offering of 5,882,352 common shares at $16.00 per share.  The Company adds that it has granted the underwriters a 30-day option to purchase up to 882,352 additional common shares to cover over-allotments.






 
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