• 2020 February 8 13:41

    HII to acquire Hydroid and establish strategic alliance with Kongsberg Maritime

    Huntington Ingalls Industries (NYSE: HII) said that it has entered into an agreement to acquire Hydroid Inc. a leading provider of advanced marine robotics to the defense and maritime markets and a U.S. based indirect subsidiary, wholly owned by Kongsberg Maritime. In conjunction with the transaction, HII and Kongsberg Maritime are also establishing a strategic alliance to jointly market naval and maritime products and services to the U.S. government market and potentially to global markets.

    Hydroid, based in Pocasset, Massachusetts, will become part of HII’s Technical Solutions division. The acquisition of Hydroid expands HII capabilities in the strategically important and rapidly growing autonomous and unmanned maritime systems market. The transaction is subject to regulatory review and customary closing conditions and is expected to close in the first quarter of 2020. The value of the transaction is $350 million, which will be effectively reduced by tax benefits that are preliminarily valued over $50 million, to be received by HII.

    “We are very excited about bringing Hydroid into the HII family and establishing a strategic alliance with Kongsberg Maritime,” said Mike Petters, HII’s president and CEO. “Hydroid’s advanced capabilities and reputation for excellence in autonomous and unmanned maritime systems provide the perfect complement to our existing unmanned operations, including Proteus in Panama City and our partnership with Boeing to produce the Orca XLUUV. This transaction, along with the strategic alliance with Kongsberg Maritime, demonstrates our long term commitment to the U.S. Navy, the U.S. Coast Guard and our national security customers and allies globally.”

    The strategic alliance between HII and Kongsberg Maritime leverages the companies’ combined capabilities and resources to enhance their respective services and product offerings to the U.S. Navy, U.S. Coast Guard and other national security customers. The companies will also explore opportunities to market each other’s products to customers on a global scale and to collaborate to create innovative solutions and additional opportunities for growth.

    Kongsberg Maritime is a wholly owned subsidiary of KONGSBERG (ticker: KOG), an international, knowledge-based corporation headquartered in Norway. The group delivers advanced technology systems and solutions to clients within the defense and aerospace market and commercial maritime market.

    Hydroid is a field-proven technology leader in advanced marine robotics. Since 2001, its REMUS line of unmanned underwater vehicles (UUV) has provided innovative, rapidly deployable solutions for use in defense, marine research and commercial applications. Hydroid specializes in UUV design, engineering, production and support.

    About Huntinton Ingalls Industries
    Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Mission Driven Innovative Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs more than 42,000 people operating both domestically and internationally.




2020 October 20

17:03 Van Oord becomes the shareholder in Saare Wind Energy
16:38 Wan Hai Lines to launch China – India Service VI (CI6) Service
16:28 Tiksi port expansion is expected as new fields can be discovered in the region
16:03 Jotun offers Superyachts unique lifecycle support with launch of JotunCare
15:44 Rosmorport collects applications for debut bonds in amount of RUB 4 billion
15:30 DCSA publishes standard data definitions to enable just-in-time port calls
15:12 ESPO congratulates Port of Valencia for renewing PERS certification
14:23 Samsung Heavy Industries again chooses Wärtsilä cargo handling system design for new VLEC vessels
13:41 Modernization of port Tiksi to build up throughput to 300,000 tonnes
13:25 Port of Antwerp participates in developing and testing a private 5G network
13:20 Bunker prices are slightly up in the Far East ports of Russia (graph)
13:02 Port Houston container volumes up 1% to 251,524 TEUs in September 2020
12:33 RF Ministry of Economic Development to allocate RUB 2.8 billion for creation of port SEZ in Astrakhan Region
12:19 DNG Energy receives a licence for LNG bunkering in Coega
11:00 KSS Line signs with Hyundai Global Services for smart ship solution powered by Inmarsat and Intellian
10:58 ASW ship Vice-Admiral Kulakov and support vessels of RF Navy’s Northern Fleet enter Greece
10:37 Admiral Makarov frigate of RF Navy’s Black Sea Fleet passes Black Sea straits
10:12 LUKOIL and Rostec sign cooperation agreement
10:02 MABUX: Bunker market this morning, Oct.20
09:49 Shipbuilding Corporation “Ak Bars” to tell about passenger ship Chaika at 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
09:26 Oil prices decrease amid second COVID-19 wave concerns
09:14 Baltic Dry Index as of October 19

2020 October 19

18:11 CMA CGM to launch the East Med - Black Sea Express
18:01 Taganrog coastal station of NAVTEX service obtains certificate of conformity
17:48 BPA to host 5G workshop
17:27 FESCO to supply India's research stations in Antarctica for the third year in a row
17:06 Valenciaport registers the record with 477,194 containers handled in September 2020
16:46 4th “LNG Fleet, LNG Bunkering and Alternatives” conference to be held online on 28 October 2020
16:05 Milaha obtains “ISO 27001” certification for Information Security Management System
15:49 Rosmorport's sailing ship “Mir” to sail around the world in 2022-2023
15:12 Mitsubishi Shipbuilding receives approval in principle for LNG fuel gas supply system from Bureau Veritas
15:04 A.P. Moller - Maersk integrates the European customs services specialist KGH Customs Services
14:35 Harvey Gulf orders Wärtsilä Energy Storage for another four LNG-powered Supply Vessels
14:30 Average spot market price for Russian M100 product rose to RUB 11,894 pmt
14:11 GTT announces the acquisition of Areva H2Gen
13:58 Project on construction of fish terminal “Udarnik” registered as second resident of Arctic Capital PDA
13:17 Ukraine's January-September 2020 coal imports down 15%
13:11 ZIM and Alibaba.com sign strategic cooperation agreement
12:52 Port of Riga sets itself new goal to become region's leader in grain handling
12:33 TransContainer increased container transportation volumes by 15.1% YoY
12:04 Port of Oakland names Acting Communications Director
11:47 Blagoverf shipyard lays down buoy tender of project 3052 for Rechvodput
11:06 EPS collaborates with GoodFuels for marine biofuel bunker trial
10:42 Ocean Yield ASA acquires two suezmax newbuildings with long-term charters
10:40 First sections for ice-resistant platform LSP “A” shipped to outfitting yard
09:58 North Carolina Ports awarded $16 million grant for infrastructure improvements
09:39 MABUX: Bunker market this morning, October 19
09:25 Week beginning is marked by oil prices decrease
09:12 Baltic Dry Index as of October 16

2020 October 18

16:05 Inmarsat and Cobham SATCOM enable Maldives fisheries sustainability with Fleet One
15:58 JAXPORT now offers expanded service to the West Coast of South America through ONE
14:11 Nordic American Tankers says full financing of Suezmax duo is in place
13:14 Bright outlook at Gibdock as bookings remain solid
12:27 Supply contracts signed for main equipment for Squadron 2020 project
11:09 Port of Gdansk inks LoI with Ukrainian Sea Ports Authority

2020 October 17

12:54 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to Far East
11:51 CMA CGM extends PSS from Asia to North Europe
10:42 THE Alliance announces updated service adjustments for November 2020
09:34 The largest LNG-powered container ship ever built features Wärtsilä solutions
08:37 CMA CGM and MSC share information through the blockchain-based data platform TradeLens