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Contract Option

GD Gets Contract Option

The U. S. Navy has awarded General Dynamics Electric Boat, a business unit of General Dynamics, a $6 million contract option for the advanced procurement of on-board repair parts for the first four submarines of the Virginia Class. The work will be shared about equally between Electric Boat (55 percent) and Northrop Grumman Newport News (45 percent), Electric Boat's teammate in the Virginia-class construction, and will be completed by the end of 2007. The option is part of a $4.2-billion contract the Navy awarded Electric Boat in 1998 for the construction of the first four ships of the class.


COSCO Guandong Shipyard to Construct PSVs

Guandong China shipyard: Photo COSCO

COSCO Corporation (Singapore) Limited informs that its subsidiary COSCO (Guangdong) Shipyard has had contract options taken up for the construction of 4 Platform Supply Vessels (PSVs). The new vessels are scheduled for delivery from 2Q 2016 to 1Q 2017, and the shipowner has also secured options for two additional platform supply vessels of this type. The contracts for the PSVs have a total value of approximately US$ 120-million


CAE to Provide Automation System for Navy

CAE’s Marine Systems division has been selected to provide an automated ship control system for the U.S. Navy’s Littoral Combat Ship (LCS) program. The $3.6M contract was awarded by General Dynamics Advanced Information System. General Dynamics Bath Iron Works is the program’s prime contractor. A contract option could bring an addition al $2.2M.


Navy Orders Material for More Austal JHSVs

The U.S. Navy has exercised contract options funding Austal’s acquisition of long lead-time material associated with the construction of two additional 338 ft Joint High Speed Vessels (JHSV). The award is valued at $99.5m. Austal was awarded the initial contract to design and build the first 338 ft JHSV in November 2008. The contract included options for a further nine additional vessels to be awarded between FY09 and FY13 for a total value of up to $1.6b.


HII Gets USN Submarine Engineering & Industrial Work Contract

Huntington Ingalls Industries' Newport News Shipbuilding (NNS) division awarded the $142.7 million contract from the U.S. Navy. The contract option is for work on operational and decommissioning U.S. Navy submarines, conversion submarines, special mission submersibles, submarine support facilities and related programs. NNS is the prime contractor for the work, which will include engineering, design, configuration management, integrated logistic support, database management


Grumman Awarded $102M for Sub Modernization

Photo courtesy Northrop Grumman

Northrop Grumman Corporation (NYSE:NOC) has been awarded a cost plus fixed fee contract option valued at $102.7m from the U.S. Navy for work on Los Angeles-class, Seawolf-class, Virginia-class and Ohio-class submarines, special mission submersible interfaces, submarine support facilities and related programs. The company's Shipbuilding sector in Newport News, Va. is the prime contractor and will provide engineering, design, configuration management, integrated logistic support


FGH Receives $52 Million Worth Of Orders

Friede Goldman Halter (FGH) has signed nine contracts with a combined value of more than $52 million, excluding options. The contracts are outlined as follows: Halter has agreed with Foss Maritime for the construction of a 98-ft. (29.8 m) harbor tug, with options to build two additional vessels; a contract was also signed with an undisclosed foreign operator for construction of two high-speed passenger ferries, with options for two additional vessels; Sea Coast Towing has contracted Halter


Todd Pacific Shipyards to Overhaul Carriers

Todd Pacific Shipyards Corporation has been awarded a five-year contract with the United States Navy to provide long-term overhaul and maintenance to the NIMITZ CLASS aircraft carriers (CVN) homeported in Puget Sound. The contract consists of multiple contract options for planned incremental availabilities (PIA's), docking planned incremental availabilities (DPIA's) and continuous maintenance and upkeep for the USS LINCOLN (CVN-72), USS STENNIS (CVN-74)


Navy Announces Flight 0 LCS Contract Awards

Lockheed Martin Corporation – Maritime Systems & Sensors, Moorestown, N.J. ($46,501,821) and General Dynamics - Bath Iron Works, Bath, Maine ($78,798,188) are each being awarded contract options for final system design with options for detail design and construction of up to two Flight 0 Littoral Combat Ships (LCS). "Today’s Littoral Combat Ship decision represents an important milestone for the warfighter and the acquisition team," said John Young


USCG Awards Bollinger 3 Patrol Boat Contract

Artist’s rendition of the Sentinel Class 154 ft. Patrol Boat for the U.S. Coast Guard, being built by Bollinger Shipyards, Inc. (Photo courtesy Bollinger / Damen)

Bollinger Shipyards, Inc. announced that it was awarded a contract valued at over $142,000,000 to build an additional three Sentinel Class, 154-ft patrol boats, for the U. S. Coast Guard.  The initial contract for the design and construction of the lead ship in the class was awarded to Bollinger in September 2008. Under the current contract options, the Coast Guard can buy up to thirty-four patrol boats with Bollinger for a total value of over $1.6b.


JES Inks $1 Billion USD Newbuilding Deal

Mainboard-listed JES International Holdings Limited announced that the Group has successfully secured contract plus options worth close to US$1.0 billion, continuing on their successive contract wins earlier in 2014.   Comprises construction of 6 Ultramax bulk carrier with options


Global Ocean Trade Shipbuilding Orders

File image

Another relatively quiet week with no reports of new shipbuilding orders in either the dry bulk and tankship markets, remarks Clarkson Hellas in its latest S&P Weekly Bulletiln. Gas carriers Odfjell Gas Carriers declared their options for four 22


Far East Shipyards Bag the Week's Newbuilding Orders

File photo

South Korea, Japan and China shipyards update their order books with a clean haul of ocean-going newbuilding contracts, detailed as follows in the latest Clarkson Hellas S&P Weekly Bulletin. Drybulk carriers Clarkson Hellas report a few orders in dry


WR Contracted for CDSADN Services

WR Systems, Ltd. of Norfolk, Va. has been awarded a delivery order on the SeaPort-e contract with NSWC, Dahlgren Division for support services to Combat Direction Systems Activity, Dam Neck (CDSADN) Rapid Response Engineering Capability in the areas of software, hardware


Lockheed Martin Awarded Contracts Two GPS lll Satellites

GPS Satellite: File image

Lockheed Martin inform that the U.S. Air Force has awarded it more than $245 million in contract options to complete production of its seventh and eighth next-generation Global Positioning System satellites, known as GPS III. “With eight GPS III satellites now fully under contract


Latest DoD Navy Contracts

USNS Guadalupe: Photo MSC

Vigor Industrial LLC, Moran Towing Corp., and Maersk Line, Ltd.  figure amongst the latest US Department of Defense, Navy, contract awards for various services as follows: USNS ship repair contract – Vigor Vigor Industrial LLC, Portland, Ore


Container Shipping May Hoist Financial Distress Signal: New Study

Container terminal: File photo CCL3

Beset by continued sluggish demand, a growing mountain of debt and a radically changing marketplace, listed companies in the global container shipping industry as a whole face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010


Navy Funds Austal to Build Two More LCS in US$3.5-Billion Program

LCS Independence variant photo courtesy of US Navy

Austal inform that its USA’s order backlog has grown by approximately US$684-million dollars as a result of two additional Littoral Combat Ship (LCS) contract options being exercised by the United States Navy. The contract options fund construction of the LCS 18 and LCS 20


Transocean Orders Two New Ultra-Deepwater Drillships

Transocean rigs: Image courtesy of the owners

Transocean Ltd. inform that a subsidiary company has awarded contracts to Sembcorp Marine's subsidiary, Jurong Shipyard, in Singapore for construction of two newbuild dynamically positioned ultra-deepwater drillships with contract options for up to three more.


China Shipyard to Build Two PSV's

Guandong China shipyard: Photo courtesy of COSCO

COSCO Corporation inform that two contract options for the construction of two platform supply vessels (PSV) at their COSCO (Guangdong) Shipyard have been declared effective. The option contracts, valued at approximately US$60-million, were from a Singapore based company.


Latest Global Ocean-Going Shipbuilding Round-Up

Zhoushan Shipyard:Photo credit COSCO

A relatively active past week in the dry bulk newbuilding market is noted by Clarkson Hellas in their S&P Weekly Bulletin. Dry bulk carriers Oldendorff Carriers have contracted two firm plus two option 208,000 DWT Newcastlemax at Hantong Shipyard, with delivery of all four vessels in 2016


GPS lll Satellite Build Contract Goes to Lockheed Martin

Image courtesy of Lockheed Martin

The U.S. Air Force has awarded Lockheed Martin more than US$200-million in contract options to complete production of its fifth and sixth next-generation Global Positioning System satellites, known as GPS III . Lockheed Martin explain that the GPS III improves capability to meet the evolving


Drew Marine Gets Navy Worldwide MSC Supply Contract

In the latest listing of US Department of Defense, Navy, contracts Drew Marine USA has been awarded a one-year option for the worldwide supply, delivery and services for shipboard chemical treatment; foam testing, supply and disposal; industrial gases; and refrigerants for all U.S


Hydroid Awarded US$26-million Navy Contract

Included in the latest listing of US Department of Defense, Navy, contracts is the news that Hydroid Inc, has been awarded a significant UUV order for services with long-term options. Hydroid Inc., Pocasset, Mass., is being awarded a $26,231,287 cost-plus-fixed-fee, firm-fixed-price


USCG Christens Fourth National Security Cutter

The U.S Coast Guard christened its fourth National Security Cutter Saturday, during a ceremony at Ingalls Shipyards in Pascagoula, Miss. The cutter's sponsor, Linda Kapral Papp, led the time-honored tradition of breaking a champagne bottle on the cutter's bow






 
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