Marine contract

MARINE CONTRACT. One which relates to business done or transacted upon the sea and in sea ports, and over which the courts of admiralty have jurisdiction concurrent with the courts of common law; such contracts include according to civilians and jurists among other things, charter parties, affreightments, marine hypothecations, contracts for the marine service in the building, repairing, supplying and navigating ships; contracts and quasi contracts respecting averages, contributions and jettisons, and policies of insurance. 2 Gall. R. 398, where Judge Story gave a very learned opinion on the subject.

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'SOEs [State-Owned Enterprises] are meant to subsidize government; SOEs should greatly be able to contribute, but since the Marine contract, NPA has not been able to fully contribute to government', she laments.
Tetchner added: "We want to take full advantage of the GOK Marine contract and identify new areas in which we can grow our business."
The first phase of the U.S Marine contract calls for ViaSat to develop and deliver 150 mobile proof-of-concept devices for Department of Defense testing and integration.
16 December 2011 - Norwegian seismic surveyor Petroleum Geo-Services ASA (OSL:PGS) said today it expects its EBITDA to rise to between USD650m and USD700m, corresponding to a marine contract EBIT margin of 10-15% in 2012.
Australia's leading and diversified contracting, engineering and services provider John Holland Group Pty Ltd, a wholly owned subsidiary of Leighton Holdings Limited (ASX:LEI), has been awarded a A$276 million marine contract which forms part of the early works for Rio Tinto's (ASX:RIO) Cape Lambert Port B Project in Western Australia's north-west.
 Group revenue was $731m down 31% from a record quarter last year and reflecting current market conditions Group operating margin was 8% and EBITDAs margin was 32% with a resilient Sercel EBIT margin, good vessel performance in oversupplied market and sequentially stable multi-client sales with a higher amortization rate Net income was $12m Free cash flow at $148m this quarter following a significant reduction of working capital  Net debt to equity reduced to 32%  Long term marine contract awarded by Pemex.
It has also secured a pounds 3m civil marine contract as part of a new marina development at Deganwy Quay, and is putting the finishing touches to a pounds 1m design and build project for a foundation structure at the Kronospan plant at Chirk.
The margin on EBIT of the marine contract business is expected to be in the guided range of 10-15% for the full year.
Fourth-quarter productive time for its vessels and related margins and revenue in the marine contract segment have been lower than forecast in its third-quarter report, PGS said in a statement.
The agreement is the biggest marine contract for Yaskawa Environmental Energy / The Switch since entering the segment in 2013.
Under the first phase of the US Marine contract ViaSat will develop and deliver 150 mobile proof-of-concept devices for Department of Defence (DoD) testing and integration.
PGS saw its revenues decline 15.9% on the year to USD1.135bn, mainly due to lower marine contract revenues, reflecting the economic downturn and less capacity used for marine contract work.

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