Electric Boat Receives $1.35B Contract Modification

Tuesday, January 31, 2006
The U.S. Navy awarded General Dynamics Electric Boat a $1.35 billion contract modification that provides funding for the construction of the eighth Virginia-class submarine and advance procurement for the ninth and 10th ships of the class. The award modifies an August 2003 contract for the construction of six Virginia-class submarines at a rate of one per year from FY 03 through FY 08; the total value of the contract is $8.4 billion. Altogether, Electric Boat and its construction teammate, Northrop Grumman, have received contracts to build 10 ships of the class. The lead ship, USS Virginia (SSN-774), was delivered to the Navy in October 2004. The contract modification has been factored into the company's workload projections since the initial contract was announced in 2003. It is not unplanned work. For that reason, it will not affect the number of layoffs the company will make over the next two years. The contract modification provides $1.1 billion for construction of SSN- 781, $208 million in advance procurement for SSN-782 and $40 million for SSN- 783. Fifteen percent of the work will be performed at Electric Boat's Groton shipyard; 15 percent at its Quonset Point, R.I., facility; 30 percent at Northrop Grumman in Newport News, Va.; and 40 percent at various sites throughout the U.S. Work under the overall contract is scheduled for completion in 2014 when SSN-783 is delivered.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ASA Mission Statement Revised to Expand Reach

The American Salvage Association has revised its mission statement to increase its area of influence beyond North America, complemented by a new logo that reflects the expanded direction.

New Chemical Handling Service from Ferguson Group

Tank, Fluid Solutions and Bunded Storage for Dangerous Goods and Chemicals Introduced at Gap Ridge, Karratha.    Ferguson Group Australia, global specialist in offshore DNV 2.

BP Freezes Pay in 2015 to Cut Costs

BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.   Over the past year,

Contracts

InterMoor Completes Juniper Mooring Installation Contract

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation

Huisman Cranes for New Maersk Subsea Support Vessels

In December 2014, Huisman secured a contract from COSCO (Dalian) Shipyard for the delivery of four customized 400mt Rope Luffing Knuckle Boom Cranes and two 100mt

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1590 sec (6 req/sec)