OSI Continues to Receive New Orders For First Quarter

Wednesday, February 20, 2002
Offshore Systems International Ltd. (OSI) announced that it continures to receive new orders in its fiscal first quarter which ends February 28, 2001. Since announcing a major new order in December, Offshore has received $1.1 million in additional new orders bringing the total new business booked to date in the fiscal first quarter to $1.7 million. The new orders are from three of Offshore Systems’ key customers – the Royal Danish Navy, the U.S. Coast Guard and the U.S. Navy, and are for products to be delivered later in 2002. The orders are for Offshore’s proprietary ECPINS®-M (Electronic Chart Precise Integrated Navigation System-Military) systems, and for electronic charts and chart services. "Offshore Systems continues to experience strong order flow in the first quarter, following record levels of new orders in the last half of fiscal 2001 and a corresponding strong backlog position at fiscal 2001 year-end,” said John Jacobson, President and CEO of the company. "We’re maintaining our focus on the military navigation market and, with the heightened emphasis on security and increased government spending on homeland defense in North America, we are very optimistic about Offshore’s future prospects. We are also seeing an increasing interest in our products internationally. In fact, Offshore was recently invited to deliver a briefing on its ECPINS®-M technology at NATO Headquarters in Brussels.”

Maritime Today


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

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.0686 sec (15 req/sec)