CP Ships’ Lykes Lines Awarded $145M Contract

Tuesday, January 18, 2005
The US Department of Transportation has granted Lykes Lines, a subsidiary of CP Ships, the right to operate five US-flag containerships in its new Maritime Security Program for ten years beginning 1st October 2005. The ships will receive government subsidy to offset the cost of operating under US flag. Over the ten-year contract term, the subsidy will total $145 million. The five ships will operate on the TransAtlantic. MSP was created to ensure the Department of Defense has ready access to a fleet of modern and efficient commercial US-flag ships that could be made available in times of war or national emergency. This new contract represents an increase in Lykes Lines' participation in MSP. It currently operate five US flag ships in a single loop on the TransAtlantic, but only three are MSP ships and receive subsidy under the existing contract which expires on 30th September 2004.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

DMW Marine Takes the Lead in Military Cranes

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

Two ASC Kalmar Cranes for DP World Brisbane

Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0829 sec (12 req/sec)