Big Navy contracts for Titan Maritime, SMIT

Titan Maritime, L.L.C., Pompano Beach, FL, and SMIT Singapore PTE, Ltd., Singapore, were each recently awarded $43 million ceiling-priced indefinite-delivery/indefinite-quantity, cost-plus-award-fee contracts by the U.S. Navy for salvage, salvage-related towing, harbor clearance, ocean engineering, and point-to-point towing services to support the Director of Ocean Engineering, Supervisor of Salvage and Diving. The primary purpose of the contracts is to provide services to assist in the performance of salvage of ships, craft, cargo, and other items as tasked.

Both of the contracts include options, which, if exercised, would bring the cumulative value of this contract to $215 million.

Under its contract, Titan Maritime will perform its work in the vicinity of the U.S. West Coast, Hawaii, and the Eastern Pacific.  The work is expected to be completed by February 2013.

Meanwhile, SMIT Singapore PTE, Ltd., Singapore, will perform similar work in the vicinity of the Western Pacific Ocean, with completion expected by February 2013.

 

February 3, 2012