Navy Orders Lockheed to Stop Ship Work for Review

Monday, January 15, 2007
According to Reuters, the U.S. Navy ordered Lockheed Martin Corp. to halt work on one of its two littoral combat ships due to significant cost overruns, the service said on Friday. The Navy said Lockheed's work would be stopped immediately for 90 days, while costs are reviewed. The Navy would not disclose how much costs had risen, but defense officials called the overrun significant. The $1.3b littoral combat ship program is a major piece of the Navy's vision for its future fleet.

Lockheed, the top U.S. defense contractor, is building the first and third of the Navy's littoral combat ships, designed for closer-to-shore missions, while General Dynamics Corp. is building the second and fourth. Lockheed won the $198m contract in June for the second ship. According to the Navy, work will be stopped on the second ship because of cost overruns on both its vessels. U.S. Navy shipbuilding has been plagued by billions of dollars in cost overruns and lengthy schedule delays. The U.S. Government Accountability Office has estimated cost growth of 27 percent for first-in-class ships. Source: Reuters

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Thyssenkrupp Bids for Australian Sub Contract

German industrial group Thyssenkrupp has submitted an offer to the Australian government for a contract to build stealth submarines potentially worth tens of billions of euros,

Australia Submarine Program Enters Next Phase

Evaluation of Australia’s Future Submarine program proposals will now commence with all three potential international partners submitting their proposals in full,

North Korea Submarine-Launch Missile a Flop Show

North Korea apparently failed to launch a ballistic missile from a submarine in a sign that Pyongyang has yet to master the technology, Yonhap news agency quoted a government official as saying.

Coast Guard

Indonesia Ferry Hits Trouble, 97 Rescued

Almost 100 people were rescued when a ferry sailing towards Singapore from the Indonesian island of Batam hit a floating object and reportedly started to sink, authorities in the city-state said.

Panama-Registered Ship Sinks off Vigan City

A Panamanian cargo vessel MV Fortune Life sank off the coast 130 nautical off Vigan City in Ilocos Sur, Philippine Coast Guard (PCG), uthorities said.   The

Polish Cargo Ship SZAFIR Attacked off Nigeria

Pirates operating off the coast of Nigeria have taken hostage five Polish sailors, including the captain and officers, from the Polish general cargo ship Szafir.

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.0658 sec (15 req/sec)