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Transoceanic Cable Ship Bags U.S. Navy Deal

  • Business & Finance

Baltimore-based Transoceanic Cable Ship has been awarded an approximately $36-million contract by the U.S. Navy for the time charter services of a cable-laying and repair ship.

The contract, awarded by the Navy’s Military Sealift Command, Norfolk, Virginia, contains options, which if exercised, would bring the contract value to some $224 million.

According to the U.S. DoD, work will be performed worldwide and is expected to be completed by January 10, 2019.

If options are exercised, work will continue through November 2023.

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