VSE Awarded Navy Ship Support Contract

Friday, October 01, 2004
VSE Corporation reported that its Fleet Maintenance Division has been awarded a new multiple award, indefinite delivery, indefinite quantity contract by the U.S. Navy. Under the contract, VSE will provide engineering and technical services to support Naval Sea Systems Command maintenance, overhaul, repair, and alteration of ship systems aboard ships. VSE understands that the Navy awarded similar contracts to six other contractors. The contract is a multiple award, indefinite delivery, indefinite quantity contract, and accordingly, actual VSE revenue estimates for the contract cannot be predicted. Depending on U.S. Navy work requirements and funding availability, the cost-plus-fixed-fee contract includes a base year ceiling amount of $195 million and a total contract ceiling amount of $1.022 billion over a five-year period if all option periods are exercised. VSE Chairman of the Board, President, and CEO/COO Don Ervine said, "We are very pleased to have been selected to support the Navy under this new contract, and we look forward to continuing our support to the fleet under this important program." VSE provides diversified services to the engineering, energy and environment, homeland security and defense services markets from more than 15 locations across the United States and around the world. VSE reported consolidated revenues of $96.7 million and earnings of $1.6 million ($.70 per share basic, $.68 per share diluted) for the six-month period ending June 30, 2004.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

Russia – Turkey Gas Pipeline Approved

Ankara hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Turkish Minister of Energy and Natural Resources.

Maritime Security

Libya Returns Fuel Tanker to Rival Government

Libya's recognized government has released a tanker forced to dock at a port under its control after originally banning it from delivering fuel to its rival administration,

Blue Sky Network Updates SkyRouter Web Portal

Blue Sky Network (BSN), a global provider of satellite tracking and fleet management solutions for land mobile, maritime and aviation assets, announced upgrades

Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Winch
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: 0.1100 sec (9 req/sec)