Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



General Dynamics to Build Up to 2 More Civilian Tankers

Defense contractor General Dynamics (NYSE: GD  ) continues to transition itself to civilian life.

On Tuesday, for the second time in as many months, military shipbuilder General Dynamics announced that its NASSCO subsidiary has won a contract to build fuel tankers for the Seabulk Tankers subsidiary of SEACOR Holdings (NYSE: CKH  ) .

In the September order, Seabulk hired the company to build a pair of 610-foot long, 50,000 deadweight ton LNG-conversion-ready product carriers, each with the capacity to carry 330,000 barrels of liquefied natural gas. Today's order adds another such vessel to Seabulk's shopping list, plus an option for the shipper to order one more.

Construction of the one firm-ordered vessel will begin in 2015, roughly one year after construction of the two ships from Seabulk's previous order has commenced. Delivery would be in Q4 2016 -- in between the delivery dates for the two previously ordered tankers.

General Dynamics notes that to-date it has received firm orders for seven vessels of this type (plus the one option noted above). In addition to the three or four ships going to Seabulk, the company also won an order in May for four vessels to be built for privately held American Petroleum Tankers.

Financial terms of today's announced construction contract, as with all previous similar civilian contracts discussed above, were not disclosed.

Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2723463, ~/Articles/ArticleHandler.aspx, 9/25/2016 5:00:57 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:01 PM
GD $153.81 Down -1.05 -0.68%
General Dynamics CAPS Rating: ****
CKH $55.97 Down -1.17 -2.05%
Seacor Holdings CAPS Rating: ***