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Exercises Option

New Navy Contract

Northrop Grumman Shipbuilding, Pascagoula, Miss., is being awarded an $18,604,845 modification to previously awarded contract (N00024-07-C-2302) to exercise options for the accomplishment of follow yard class services for the DDG 51 class AEGIS Destroyer Program and will provide expert design, planning and material support services for both DDG 51 ship construction and modernization. Work will be performed in Pascagoula, Miss., and is expected to be completed by August 2010. Contract funds will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.


Singapore's JES Holdings' PSV Newbuild Option Taken Up

UT 755 LN Design PSV: Photo credit: E.R. Schiffahrt GmbH

JES International Holdings Limited reports Norwegian customer has exercised option for four more UT 755 LN Platform Support Vessels (PSV's). The ships will be delivered in early 2015.
 “The group is thrilled that our expansion plans into the offshore space have taken off, and is making good progress. As the requirements for offshore shipbuilding are much more stringent, the group will be making strides in our technical capabilities as well as yard management,” said Jin Xin


Ardmore Contracted for Chemical Tanker Newbuilds

Ardmore Shipping Corporation announced that it has been contracted for the construction of four 25,000 Dwt IMO 2 eco-design product and chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (Fukuoka) for a total price of approximately $118 million. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015


Austal Awarded Navy LCS Assessment Contract

LCS 4 Christening: Photo credit Austal USA

Austal USA gains additional Littoral Combat Ship (LCS) work contract. The United States Department of Defense has announced that Austal USA has been awarded a US$19.987-million modification to a previously awarded Littoral Combat Ship (LCS) contract. The modification exercises options for class service efforts and special studies, analyses and reviews for the LCS program. Austal USA will assess engineering and production challenges, and evaluate the cost and schedule risks


Latest DofD Navy Contracts

USNS Supply: Photo credit MSC

BAE Systems, Bath Iron Works, and Electric Boat Corp figure in the latest US Department of Defense, Navy, contracts issued, as follows: BAE Systems Southeast Shipyards Alabama LLC, Mobile, Ala., is being awarded a $32,946,457 firm-fixed-price contract for the regular maintenance and overhaul of USNS Supply (T-AOE 6). This contract includes two additional options which, if exercised, would bring the cumulative value of the contract to $42,499,988.  Work will be performed in Mobile, Ala


Safe Bulkers Reports 2Q Loss, Buys Newbuild

Photo: Safe Bulkers

 Safe Bulkers has reported a loss of $1.6 million in its second quarter ended June 30, 2017 as compared to $9.0 million, during the same period in 2016.  The shipping company posted revenue of $35 million in the period   Net loss for the six months of 2017 was $4.9 million as compared to $26.8 million, during the same period in 2016.   The remaining order book consisted of one newbuild vessel; its  wholly-owned subsidiary Pinewood Shipping Corporation has


Aker Solutions Wins Cat D Drilling Equipment Contract

Aker Solutions has received a Letter of Award from Daewoo Shipbuilding & Marine Engineering (DSME), to supply a further two drilling equipment packages to the 'Category D' drilling rigs the yard is building for the rig operator Songa Offshore. The contract value is undisclosed. The development of the Cat D semi-submersible drilling rigs has been initiated by Statoil, the international energy company. The Cat D drilling rig is a new generation drilling and well intervention vessel


General Maritime Announces Exercising of Three Time Charter Options On Aframax OBO Vessels

General Maritime Corporation today announced that a leading international trading company has exercised its option to time charter three additional Aframax OBO vessels for two years. The contracts for the these three vessels will provide net voyage revenue to General Maritime in the first year of approximately $21 million and could provide an additional $21 million in the second year through the exercising of the charterer's option


Todd Shipyards Announces Notification Decommissioning

Todd Pacific Shipyards Corporation has been informed by the US Navy that the USS Sacramento (AOE 1), is scheduled to be decommissioned on or about October 1, 2004. The Sacramento is one of the four AOE class ships originally covered by the Company's six-year, cost-type contract with the Navy, under which the Navy has options to have Todd Pacific perform maintenance work on the ships. The contract, which is the Company's fourth consecutive


Marinette Marine Wins Navy Deal

Marinette Marine Corp., Marinette, Wis., is being awarded $125,968,000 to exercise an option under a previously awarded firm-fixed-price contract (N00025-03-C-0002) for the manufacture of the improved Navy lighterage system to be delivered at Naval Amphibious Construction Battalion One, Coronado, Calif. and Naval Amphibious Construction Battalion Two, Little Creek, Norfolk, Va., Expeditionary Warfare Training Group Pacific and Blount


Scorpio Tankers Updates on Fleet Status

Photo: Scorpio Tankers Inc

Scorpio Tankers sold and leased back, on a bareboat basis, three 2013 built MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto to Bank of Communications Financial Leasing in April 2017.   The sales price was $29 million per vessel and the company bareboat chartered-in the vessels


SITC Shipowning Orders Four Newbuilds

Photo:  SITC International Holdings Co., Ltd

 SITC Shipowning, a wholly-owned subsidiary of SITC International Holdings Co, has exercised the options for the construction of two container vessels, said a company release.   SITC Shipowning also entered into the New Shipbuilding Contracts with the Builder for the construction of


Malibu Boats Offers Two million Shares at $25.25/Share

Photo: Malibu Boats

 US manufacturer of recreational boats Malibu Boats has announced the pricing of the follow-on offering of 2,000,000 shares of the Company's Class A Common Stock at a price to the public of $25.25 per share.   The offering is expected to close on or about August 14, 2017


Lundin Extends Contract for Ocean Rig

Image: Ocean Rig

 Ocean Rig UDW, contractor of offshore deepwater drilling services, has announced that Lundin Norway AS, has declared their third option to extend the existing contract of the Leiv Eiriksson.    In addition, Ocean Rig has granted Lundin 2 additional options to drill further wells


Yangzijiang Bags Newbuild Orders Worth $133 Mln

Image: Yangzijiang Shipbuilding

 China’s Yangzijiang Shipbuilding has won six shipbuilding contracts worth a total of $133m during the second quarter of this year, Business Times reported.   Three of these orders for 1,800 TEU (twenty-foot equivalent unit) containerships were exercised from options tied to


US, Egypt Begin Eagle Salute 2017

Official U.S. Navy file photo of guided-missile destroyer USS Truxton (DDG 103). Photo: United States Navy

 The U.S. Navy with the Egyptian Naval Forces commenced exercise Eagle Salute 2017 in the Red Sea.   Eagle Salute 2017 incorporates Eagle Response 2017, an explosive ordnance exercise, to provide opportunities for participating nations to collaborate on an even wider range of maritime


Ballarat Exercises with PLA-N

Royal Australian Navys HMAS Ballarat and Chinese Peoples Liberation Army-Navy (PLA-N) Jiangkai II class frigate Huangshan, conduct exercises on completion of HMAS Ballarats port visit to Zhanjiang, China. Photo:  Royal Australian Navy

 HMAS Ballarat has taken part in a range of maritime exercises with People’s Liberation Army – Navy vessel Huangshan following a successful visit to the People’s Republic of China.   Conducted after Ballarat departed Zhanjiang port


Sterett-Dewey Surface Action Group in Hawaii

Photo: United States Navy

 Ships and units from the Sterett-Dewey Surface Action Group (Sterett-Dewey SAG) arrived at Joint Base Pearl Harbor-Hickam, Hawaii, April 11, the first stop of the group's Western Pacific deployment.   The command staff of Destroyer Squadron (DESRON) 31 and the Arleigh Burke-class


Aker Solutions Secures Work for Njord A Upgrade

Photo: Thomas Sola / Statoil

Aker Solutions will provide design engineering for the upgrading of the semi-submersible Njord A platform in Norway. The company will as a subcontractor of Kvaerner take part in upgrading the platform after operator Statoil exercised an option in an agreement awarded in April 2016


Carl Vinson Strike Group Arrives in the Republic of Korea

USS Carl Vinson (CVN 70). Photo: US Navy

 Aircraft carrier USS Carl Vinson (CVN 70), embarked Carrier Air Wing (CVW) 2 and Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108) arrived in Busan, Republic of Korea (ROK) for a scheduled port visit, March 15.  


US Navy, JMSDF Complete MultiSail 17

Photo:  United States Navy

 Commander, Destroyer Squadron (DESRON) 15 and the Japan Maritime Self-Defense Force (JMSDF) completed the annual bilateral training exercise MultiSail 17, March 10.   The six-day exercise consisted of surface action group maneuvers, anti-submarine training


US, Japan to Participate in MultiSail 2017

U.S. Navy photo

 The U.S. Navy and Japan Maritime Self-Defense Force (JMSDF) are participating in the annual bilateral training exercise MultiSail 2017, March 6-10.   Participants include six U.S. Navy ships, two JMSDF ships, and a number of subsurface and other special units.  


DryShips Opts for Second VLGC Newbuild

DryShips Inc., owner of ocean going cargo vessels, said it has exercised its second option under a previously announced option agreement to acquire up to four very large gas carriers (VLGCs) currently under construction at Hyundai Heavy Industries Co., Ltd. (HHI) for a purchase price of $83


San Diego Yards Win Navy Repair Deals

 BAE Systems San Diego Ship Repair, San Diego, California (N00024-16-D-4419); Continental Maritime of San Diego, San Diego, California (N00024-16-D-4420); and General Dynamics, National Steel and Shipbuilding Co., San Diego, California (N00024-16-D-4421), are being awarded a combined $383,058


Transocean's contract backlog $11.3 Bln on February 9

Ultra-Deepwater Rig Photo Transocean Ltd

Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of and contract information for the company's fleet of offshore drilling rigs. As of February 9, 2017, the company's contract backlog was $11.3 billion.






 
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