Maersk Line Ltd MSC contract is worth potential $143 million

NOVEMBER 13, 2013 — Maersk Line Limited (MLL), Norfolk, VA, was recently awarded a $73,677,038 firm-fixed-price contract by the Military Sealift Command (MSC) for the time charter of one U.S.-flagged, twin-shaft vessel that will serve as a maritime support vessel.

This contract includes four 12-month option periods, which, if exercised, would bring the cumulative value of this contract to $143,149,058.

MLL, part of the A.P. Møller-Maersk Group, operates 55 U.S.-flag ships and employs about 4,200 U.S. mariners annually.

Work will be performed at sea worldwide, and is expected to be completed November 2014.

If all options are exercised, work will continue through October 2018. Working capital contract funds in the amount of $73,677,038 are obligated for fiscal 2014, and will not expire at the end of the current fiscal year.