This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ORBCOMM’s Partner, LuxSpace, Awarded Multi-Year AIS Contract With The European Maritime Safety Agency (EMSA)

Stocks in this article: ORBC

ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, announces the award of a multi-year framework contract with the European Maritime Safety Agency (EMSA) through ORBCOMM’s partner, LuxSpace Sarl (LuxSpace), an affiliate of OHB System AG. ORBCOMM and LuxSpace will provide satellite Automatic Identification System (AIS) data used for ship tracking and other maritime navigational and safety efforts to EMSA for designated regions and specific maritime projects. The framework contract is funded for up to 500,000 Euros (US $625,000) for the first year with options for an additional two years with funding levels yet to be determined.

The contract award was the result of a competitive bid among providers of space-based AIS data service. EMSA determined that the AIS service provided by ORBCOMM and LuxSpace was superior, citing the service offering ‘was the most advantageous in regards of quality price ratio.’ Headquartered in Lisbon, Portugal, EMSA is one of the largest consolidators of AIS data and is responsible for maritime safety, pollution and security on board ships for the European Union and its Member States.

“We are pleased to announce the new EMSA contract, which solidifies our market leadership in providing space-based AIS services,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “This contract award affirms that ORBCOMM’s AIS offering provides the best combination of quality and price available in the market today.”

In addition to EMSA’s prestigious contract award, ORBCOMM and its AIS partners have signed several additional contracts for satellite AIS data services around the world, further expanding its market share and adding key customers within the maritime industry. ORBCOMM is also actively participating in numerous AIS demonstrations and tests, including an extensive Naval exercise conducted by 22 Pacific Rim nations in the Pacific Ocean starting at the end of June.

To further improve ORBCOMM’s global AIS service, eighteen additional AIS-enabled satellites that make up ORBCOMM’s next generation constellation are scheduled to begin launching later this year. These additional satellites will enhance ORBCOMM’s unmatched coverage, highest refresh rates and superior performance.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs