Ms3 News

Raytheon Company awarded a sub-contract from Science Applications International Corporation (SAIC) for its latest medium frequency hull-mounted sonar system. The sub-contract is part of the Defense Advanced Research Projects Agency (DARPA) Anti-Submarine Warfare Continuous Trail Unmanned Vessel (ACTUV) program. According to the U.S. Navy , 43 nations operate more than 600 submarines; the steady increase in undersea vessels makes tracking a challenge. Raytheon's Modular Scalable Sonar System (MS3) will integrate into SAIC's prototype trimaran vessel as the primary search and detection sonar. The systemis designed to provide search, detection, passive-threat filtering, localization and tracking capabilities without requiring human operation.

DOCKWISE Ltd today publishes results for the three monthly period ended March 31, 2011. • First payment (USD 35 million) on “T-0”, world’s largest semi-sub heavy lift vessel. • Ongoing optimization of fleet: disposal of MV Explorer. o USD 103 million for execution in 2013 and beyond (USD 76 million at end Q1 2010 for execution in 2012 and beyond). The financial statements have been prepared in accordance with IFRS. * Excludes derecognition MS3 claim Q4 2010 USD 8.7 million. Q1 2010: USD 0.6 million income on debt buy back).

Dockwise Ltd. announced its second quarter and interim 2009 results. "Dockwise has had a good second quarter, and in quieter market conditions the business is displaying its strengths. This steady operational performance has allowed us significantly to deleverage the business by nearly USD 100 million in the first half of 2009, and we continue in our efforts to strengthen the balance sheet. Stringent cost discipline and a stop on hiring of new personnel is and will be continued. Dockwise's global spread has given us access to business wherever it has emerged, while utilization rates of over 90 per cent have sustained a healthy EBITDA margin and strong cash generation.

DOCKWISE Ltd., announced its Q4 and full year 2007 results. Revenue increased 15% to USD 290 million (USD 252 million 2006). Milestone projects executed successfully: for example installation of GX deck offshore Nigeria, transport of 3 jack-up rigs on the same voyage, transport of a 6th generation semi-submersible rig and transport of the Tahiti SPAR, the largest SPAR ever. Adjusted EBITDA* increased 39% to USD 141 million (USD 102 million in 2006) . Adjusted EBITDA margin increased to 45% (40% in 2006). Total CAPEX of USD 908 million including the acquisition of Sealift, OKI and ODL.

Lockheed Martin has re-named its Marine Traffic Management business to better reflect its capabilities in the areas of marine navigation, coastal and harbor surveillance and homeland security. The business, based in Syracuse, N.Y., now will be known as Maritime Safety, Security and Surveillance (MS3). "Our former name didn't reflect a large part of our business - using state-of-the-art technology to help protect and secure harbors," said Paolo Amadio, senior manager, business development, MS3. Lockheed Martin provides maritime safety systems to the United States Coast Guard under its Ports and Waterways Safety Systems (PAWSS) contract. Systems have been installed in Valdez, Alaska, and New Orleans, La.