Projects Announcements in Pre-Tendering  Phase

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Halter Marine to Build Tugs for Lockheed's Egyptian Deal

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Halter Marine (HMI), a division of Friede Goldman Halter, recently announced that it has received a Letter of Intent from Lockheed Martin Overseas Corporation to design and build two Voith Schneider Tractor Tugs, as part of the contract signed with the Egyptian Ministry of Transport earlier this month. The project is expected to take twenty-six months to complete. At this time, Lockheed has released funding for design and planning, with details on the remainder of the project to be finalized later, according to a company press release. In February, the U.S.-based Lockheed Martin Corporation won a $50 million deal to supply Egypt with 13 vessels and a specialized maritime search and rescue system to prevent naval accidents that could damage coral reefs in the Gulf of Suez, Reuters reported. Halter vessels, coupled with Lockheed Martin's Vessel Traffic Information Management System (VTIMS), will provide Egypt with all the necessary capabilities to support navigation traffic management and maritime response efforts in the Gulf of Suez. This selection is important to Halter as it finalizes its' plan to emerge from the Chapter 11 process as stated by Chief Operating Officer, Anil Raj.

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