Shipping News Blog - dailypress.com

IP wins symposium award

By Michael Welles Shapiro — Tue, 14 May 2013 14:31:00 GMT

International Paper received "Shipper of the Year" honors at the Virginia Maritime Association's annual International Trade Symposium last week.

Pro ports privatization group accused of campaign finance violation

By Michael Welles Shapiro — Wed, 03 Apr 2013 16:17:00 GMT

A group behind port privatization robocalls and radio spots is under fire for election season TV ads in Ohio.

Shake-up at Florida port

By Michael Welles Shapiro — Thu, 28 Mar 2013 15:45:00 GMT

The Canaveral Port Authority has fired its CEO, J. Stanley Payne.

False report: port trade pub retracts article that says privatization decision shelved

By Michael Welles Shapiro — Thu, 21 Mar 2013 19:53:00 GMT

A UK-based port trade publication posted and then pulled an article that said the Virginia Port Authority board had decided to shelve privatization plans, several days before a scheduled vote on that issue.

East and Gulf Coast dockworkers, port companies reach tentative agreement

By Michael Welles Shapiro — Wed, 13 Mar 2013 20:17:00 GMT

Dockworkers union and port companies reach tentative agreement

Floating parking lots, the way of the future or an idea before their time?

By Michael Welles Shapiro — Mon, 04 Mar 2013 02:32:00 GMT

An unconventional approach to urban congestion: floating "parkades"

Rigell to travel with president during shipyard visit

By Michael Welles Shapiro — Tue, 26 Feb 2013 12:30:00 GMT

Scott Rigell to travel with president during shipyard visit. A White House official highlighted GOP congressman's willingness to compromise on taxes.

Arguments in shipyard-union case set for March

Tue, 12 Feb 2013 20:40:00 GMT

Huntington Ingalls Industries' challenge of a new nuclear safety workers union will go before appeals court in March

USS Roosevelt gets jet fuel injection at tail end of refueling and complex overhaul

By Michael Welles Shapiro — Mon, 11 Feb 2013 18:40:00 GMT

USS Roosevelt gets jet fuel injection at tail end of refueling and complex overhaul

Mystery swirls around ports privatization robocalls

By Michael Welles Shapiro — Wed, 06 Feb 2013 15:23:00 GMT

Two pro-port privatization robocalls are floating around, and it's unclear who's behind them.

Ashton Carter and the double sequestration

Tue, 05 Feb 2013 14:58:00 GMT

Deputy Defense Secretary Ashton Carter said in addition to $40 billion in cuts at the Pentagon that would come after a March 1 deadline, there's a lesser-known additional $6 billion reduction that would come at the end of March.

Mike Petters: Another take (this one from Reuters)

Mon, 06 Jun 2011 16:54:03 GMT

The Daily Press profiled Huntington Ingalls chief Mike Petters back in January, at a time it seemed all but certain he'd be making the leap from president of Northrop Grumman Shipbuilding to president and CEO of a new, stand-alone company. See the archived story here: Newport News Shipyard President to start new adventure Late last week, Reuters took its turn with Mike. The story, more of an assessment on Huntington Ingalls' future, does not make any news, but it's a worthwhile read. You can find it here: Huntington Ingalls battens hatches for rougher seas

Navy commissions Huntington Ingalls-built destroyer, awards $25.3M for future ship

Mon, 06 Jun 2011 16:24:40 GMT

The U.S. Navy on Saturday commissioned the Arleigh Burke-class destroyer William P. Lawrence (DDG-110), in a ceremony in Alabama. Built at Huntington Ingalls Industries Inc.'s Pascagoula, Miss., shipyard, the Lawrence is the 60th destroyer of its class, the 28th built by the Ingalls shipyard. A crew of about 650 workers spent about 3½ years building the ship, Norman Thames, who certifies the ships for Ingalls, told the Press-Register. The ship is named after naval aviator Vice Adm. William P. Lawrence, who spent almost six years as a prisoner of war at the “Hanoi Hilton” POW camp during the Vietnam War. Huntington on Friday received $25.3 million to buy long lead-time material for another ship in the class, the yet-unnamed DDG-113 destroyer. The funds come by way of a contract modification to buy parts for the future ship. Work will be performed in Cincinnati, Ohio, and Pascagoula, and is expected to be complete by the end of the month. Huntington's Ingalls yard is one of two to build the 510-foot destroyers for the Navy. Others are built at General Dynamics' Bath Iron Works in Maine. Bath is building the next two ships in the class, the Spruance and the Michael Murphy. The Navy has ordered three more destroyers -- two from Huntington (DDG-113 and DDG-114), and one from Bath (DDG-115).

Ingalls starts construction on John P. Murtha amphib

Fri, 27 May 2011 15:41:47 GMT

Ingalls Shipbuilding this week started construction on the amphibious assault ship John P. Murtha (LPD-26) in its Pascagoula, Miss., shipyard. Ingalls, a division of Newport News-based Huntington Ingalls Industries Inc., recently received a $1.5 billion contract to build the ship, the 10th of the San Antonio class. The yard has delivered the first five ships of the class, LPDs 17-21, which are built in Pascagoula and at the company's other Gulf Coast yard in Avondale, La. San Diego, the sixth ship in the class, is scheduled for sea trials later this year. The start of fabrication milestone is held after the yard cuts more than 100 tons of steel for teh ship. Its keel-laying ceremony will be held in early 2012. "This is a significant milestone for Ingalls Shipbuilding and for the U.S. Navy," said Doug Lounsberry, vice president, LPD program. "It is the first ship we've started with the Ingalls name ... and we look forward to delivering the most efficiently built LPD to date. These versatile ships provide unique capabilities to our sailors and Marines and allow them to perform several different missions in defense of our freedom." LPD-17s are 684 feet long and 105 feet wide. They can carry up to 800 troops and are able to deploy air cushion craft (LCACs) and the MV-22 Osprey hybrid aircraft. The class has been a troublesome one for Huntington's Gulf Coast yards. The first-in-class San Antonio has deployed only once in its six years in the fleet, burdened by engine defects and welding problems. That ship, homeported in Norfolk, returned this week from successful sea trials. Other ships in the class have reported similar problems, and Huntington CEO Mike Petters has said the LPD problems have contributed significantly to the company's poor performance in the Gulf. Huntington's Avondale yard is building two more of the ships before the company plans to shutter the 4,600-employee facility in 2013.

Crew moves aboard Newport News-built submarine California

Mon, 09 May 2011 22:51:57 GMT

Welcome to your new boat, boys. The crew of the future USS California submarine has moved aboard, the boat's builder, Huntington Ingalls Industries Inc., announced Monday. The California, the seventh sub in the Virginia Class, is in the final stages of construction at the Newport News shipyard. "Once the crew moves on board, the submarine comes to life and begins its final journey toward becoming an operational platform. It's an exciting time for the entire California team as we move one step closer to delivery," said Becky Stewart, vice president of Newport News Shipbuilding's submarine program. The sub is slated to begin its initial sea trials soon and is scheduled to be commissioned on Oct. 29. Newport News Shipbuilding officials have said the company plans to deliver the ship in the third quarter. Construction began on Feb. 15, 2006. Its keel was laid on May 1, 2009. California was christened on Nov. 6, 2010.

Mulherin, Edenzon named presidents of Huntington shipbuilding divisions

Tue, 26 Apr 2011 22:20:28 GMT

Matt Mulherin and Irwin Edenzon got fancy new titles Tuesday, both a long time in the making. The longtime shipbuilders were each named president of their respective shipbuilding divisions on Tuesday, the board of Huntington Ingalls Industries Inc. announced. "The HII Board's decision to name Irwin and Matt as presidents of their respective shipyards more accurately reflects the scope of their responsibility and accountability in leading the operations of the two largest components of our company," said Mike Petters, Huntington Ingalls Industries president and CEO, in a release. Mulherin, the former vice president and general manager of HII's Newport News operations, will continue his responsibilities for all Newport News Shipbuilding engineering, operations and programs, including nuclear-powered aircraft carriers and submarines. He also served as vice president and general manager of site operations at Newport News as part of Northrop Grumman Shipbuilding, successfully leading the sector's aircraft carrier design and construction programs, carrier refueling and overhaul programs, and the submarine program. Mulherin earned a bachelor's degree in civil engineering from Virginia Tech in 1981 and began his career at Newport News the same year as a nuclear test engineer. Edenzon, the former vice president and general manager of HII's Gulf Coast operations, will continue his oversight over all programs and operations at Ingalls Shipbuilding, including U.S. Navy destroyer, amphibious assault and surface combatant programs, and the U.S. Coast Guard cutter program. He is also responsible for two HII subsidiaries, Continental Maritime San Diego and AMSEC. Edenzon also served as sector vice president and general manager for Northrop Grumman Shipbuilding-Gulf Coast, as well as director of future carrier programs and senior vice president of technology development and fleet support for Northrop Grumman Newport News. He earned a bachelor's degree in criminal justice from Rutgers University and a master's degree in business administration from Florida Atlantic University.

Huntington Ingalls to christen new tugobat in Newport News

Tue, 26 Apr 2011 17:21:11 GMT

Huntington Ingalls Industries Inc. plans to christen its first ship Wednesday in Newport News -- a new fleet tugboat named in honor of the late Capt. Marvin Ambrose, a Mathews County native. Ambrose was a longtime docking pilot and tugboat master on the Huntington, a tugboat placed in service in 1933 that serviced 30,000 vessels. The tugboat will join the Newport News Shipbuilding fleet. It was built by Rodriguez Boat Building in Bayou La Batre, Alabama. The ceremony will be held Wednesday morning behind the shipyard's VASCIC building on West Ave. in downtown Newport News. The ship's sponsor, Shirley Langston, is the Newport News shipyard's longest-servicing female master shipbuilder. She'll be charged with breaking a bottle of American sparkling wine across the tugboat's hull. Members of Ambrose's family and executives from Huntington will be on hand for the event, which is not open to the public.

Huntington Ingalls names four more execs

Fri, 22 Apr 2011 20:15:28 GMT

Huntington Ingalls Industries Inc., the company that owns the Newport News shipyard, named four more members to its executive team this week. -- William “Will” Ebbs, the former chief of staff for the House Armed Services Subcommittee on Seapower and Projection Forces, was named corporate vice president, legislative affairs and federal policy. Ebbs is responsible for directing outreach to Congress and the White House. He reports to Mitch Waldman, corporate vice president of government and customer relations. -- Marty Chanik was named corporate vice president of enterprise-wide customer relations. -- Eric Womble was named corporate vice president of program integration and assessment. -- Jay Foley was named corporate vice president of customer relations for Ingalls Shipbuilding programs. Chanik, Womble and Foley were all former executives for Northrop Grumman Shipbuilding.

Huntington Ingalls listed on S&P MidCap 400; shipyard honors "Master Shipbuilders"

Thu, 21 Apr 2011 18:33:24 GMT

Take note, stock index wonks: Huntington Ingalls Industries Inc. (stock ticker HII) has replaced Dynegy (DYN) in the S&P MidCap 400 index, according to Standard & Poor's. What does this mean? Not much. In short, it means HII is a "mid-cap" stock, a company with market capitalization between roughly $2 billion and $10 billion, though those numbers are relatively fluid and can change over time. Market capitalization is calculated by multiplying the number of the company's outstanding shares by its stock price. Have I lost you yet? Simply, it places HII in the same company (pun intended) as Smithfield Foods Inc., AGL Resources, Barnes & Noble, JetBlue, New York Times Co., Polaris and others. ------------ Also, in case you didn't see page 10 of Thursday's Daily Press, Huntington Ingalls took out a full-page advertisement honoring its 534 "Master Shipbuilders" -- or employees with more than 40 years of continuous service. James F. Acree Maurice M. Adams Larry D. Agnor David M. Ahearn Jr. Barbara D. Allen Carroll M. Allen James E. Allen Faulcon Alston John W. Altman James E. Amos Clinton B. Anderson Darnell O. Anthony Sandra B. Armstrong Albert B. Arnold Edward J. Artis Alexander Askew Marie M. Austin William C. Ayers Cleo B. Badgett William A. Badgett Henry E. Badgett Jr. Jerry C. Bailey Clyde E. Baker Earl G. Baldwin Edgar A. Ball II Sallie R. Banks Eddie R. Barefoot Michael L. Barnes Thomas W. Barnes David C. Barringer William C. Bartlett Alex B. Baxter Jr. Eric W. Belcher Edward C. Belvin Robert T. Berkley Ernest L. Billups Edward D. Black Paul O. Black Gary E. Blake Johnny L. Blake Anthony R. Bland Anson L. Blevins Robert E. Blount Mckenzie Bolden Bernard D. Bolen Odes V. Bolin Jr. George Booker Cordie Boone Samuel L. Boone Andrew Boone Jr. Elworth H. Bowden Karl D. Boyce Christopher C. Boyd Jr. Cheryl T. Boyette John U. Boyette Claud C. Bracy III George A. Bradby Joseph W. Bradley Walter L. Bradley Thomas H. Brady Jr. Michael F. Brice Larry L. Bridgman Benjamin C. Brinkley Jr. Ronald G. Brinson Samuel H. Brockman Jr. Wayne J. Brooks Donald F. Brookshire James M. Brothers Larry C. Brownley Moses H. Brunson Richard E. Bryant Leamon E. Bullock Alton C. Burke Luther E. Burrus Samuel C. Burton James C. Byrum Anna B. Call Frederick E. Call Johnny L.Camden Gary W. Campbell Patrick S. Carmean Calvin L. Carter Jesse R. Cartwright Davis W. Cartwright IV John N. Cary Jr. Thomas L. Casper William D. Causey Clarence C. Chamblee Grant U. Chandler James E. Chapman Ronald L. Chapman Waverly A. Charity Gary W. Chenault Joseph F. Cherry Kenneth R. Clarke James A. Clemons James M. Cofer William R. Colligan David L. Compton Kenneth R. Congleton Donald R. Connelly Raymond D. Conyers Thomas G. Cook Willie Cook Jr. Bernard E. Cooke Robert H. Cornett Jr. Jerry L. Costello Lloyd W. Craig Jr. Kenneth W. Crocker Jr. Marvin A. Crocker Jr. Burwell J. Cullipher Michael R. Davis George D. Dawson Howard W. Deberry Henry A. Deese Jr. Conrad C. Dellinger Jr. Bettie A. Den Dekker Alvester D. Dent William H. Dent Charley J. Dickens Betty J. Dickson David T. Diggs Thomas D. Diggs Jr. Edwin T. Dise Herman L. Dixon Lewis H. Dixon George S. Dodson Barbara A. Dolby Michael W. Douglas John T. Drake James L. Durham James E. Durie Dwayne M. Duval Arthur R. Dyke Jr. William G. Eaton Jr. Earl L. Edwards Franklin D. Edwards James L. Edwards Mildred S. Elam Tyrone Epps Charles W. Epps Jr. Palmer W. Eubank Jr. Joe M. Eure William H. Eure Jr. James M. Evans William L. Evans Jr. Langston D. Everett James E. Everette James H. Faulk Randolph Favors Clarence E. Felton Philip W. Fetter William A. Fields Allen T. Fincher Ralph R. Fish Robert L. Fish Steven D. Flanagan Hjalmar J. Fond Leroy S. Foreman Walter I. Fortenberry George R. Frangowlakis George D. Freeman Jr. Robert M. Fulcher Sidney H. Fuller Paul J. Garris Jr. Herbert A. Getts Lenious C. Gibbs William D. Gibson Charles T. Gilley Ralph B. Gilley Otho M. Givens Russell A. Golden Samuel G. Goode III Edward M. Gore Harold W. Gowers McDale Grant Percell Grant Herbert C. Gravely III Lindora Gray Thomas J. Green Wayne D. Green Edwin L. Greene Carolyn J. Grimes Dave E. Gwaltney Charlie E. Hall Edsel A. Hall Morris G. Hall Robert L. Hall Samuel C. Hall Howard S. Hall Jr. Paul G. Halsey Rodney D. Hamm Wallace L. Hardy Jr. Kenny L. Hargrove Walter Hargrove Jr. Norman R. Harr Clarence B. Harrell Thomas E. Harrelson Lorenzo Harrington Herman L. Harris Joseph A. Harris Tommie Harris William H. Harris Michael L. Harris Jr. Darrell Harrison Tuson Harvey Roger K. Haskett Thomas B. Hasty Michael G. Hawk Robert S. Hawk Roger D. Hayes Isaiah Haynes Jimmie R. Haynes George E. Hazelwood III Julius M. Heckstall Yonnie M. Hedrick Judy A. Hester Mack E. Hill Oliver D. Hill David R. Hinnant Joan L. Hitt Woodrow E. Hitt Roy E. Hoffman Jr. David B. Hogge William P. Holley Milton R. Holloway Lillian W. Holmes Dennis B. Honeycutt Donald L. Hopson William M. Howell Charles W. Hubbard James L. Hudgins Robert L. Hudgins Jeffery L. Hughes Joseph G. Hughes George C. Hundley Clifton S. Hunter Rolland C. Hunter Ronald D. Hunter Curtis R. Irby Dwight L. Isenhour Jr. Richard S. Ivens Milton M. James Richard L. Jamison Paul L. Jaquay Otis L. Jarrett Robert L. Jarrett John B. Jeffries Jr. James F. Jenkins Steven C. Jensen Josephus Jernigan Thomas R. Johnson Sam Johnson Jr. Alfred Jones Coloris M. Jones Dale K. Jones Ellison E. Jones Eugene F. Jones Hayward Jones King E. Jones Paul D. Jones Timothy L. Jones Ralph A. Jordan Richard A. Jordan Frances R. Joyce William C. Joyce Lloyd D. Joyner Anthony C. Kaczka James M. Keemer Jr. Louise E. Kelley Colin R. Kelly Alphonso Kelly Jr. Clifton L. Kemp Guy E. Kilburn William D. King Jr. John M. Knight Ern A. Koehler Jr. Gary S. Krigsvold Walter P. Kwiatkowski Jr. Felix M. Lane Posey F. Lane Jesse Lane Jr. Lenward Lane Jr. Garland E. Langhorne Shirley S. Langston Alvin L. Lankford Randolph C. Lavender Henry R. Lawrence Garland J. Lawson Napoleon Lee Gary M. Leonard David A. Lester Ruth S. Lewis Willie L. Liverman James P. Long Michael T. Luper John L. Luton Robert A. Maker Carolyn B. Mann Joseph L. Manning George E. Marble Howard L. Martin Charles W. Mason Edward B. Matheson Jr. David L. May Richard B. Maynard David F. McCoy Gary McClenney Roy D. McCullen Donald L. McDaniel Danny J. McDowell Welford B. McElwee Rebecca C. McKinney Wyndham E. McPherson Charles C. Meador John N. Meadows Jr. Lloyd W. Merritt James A. Messick Earnest N. Minggia Carthone E. Mitchell Leonard P. Mitchell Jr. James L. Mizell Ernest F. Montgomery Russell L. Moody William T. Moody Calvin Moore Clarence P. Moore Charles R. Morris Dennis L. Morris Wilma B. Morris Thomas J. Mullins John E. Munn Ernest L. Murphy Jr. David A. Muse John L. Myrick Floyd L. Nace Pernell Newby William H. Newby Charles E. Nichols Catherine W. Nicholson James T. Nicholson William H. Nicolls III James R. Norris William W. Nuttall Wesley H. Oast Jr. James W. Oliver Hearld M. Oney Thomas R. Osborne Elbert Outerbridge Linwood G. Outlaw Kenneth R. Overman Jerry L. Owenby Eddie J. Owens Dennis G. Page Joann S. Panuska Conrad E. Parker Melvin C. Parker James E. Parrish Charles E. Paul Luther H. Peacock James R. Peaks John A. Pellum Bert L. Pender Jasper J. Peoples William L. Perdue Kenneth E. Perrin Francis L. Perry Joseph S. Perviance Steve Peters James L. Peterson Earl Peterson Jr. Joyce R. Phelps John R. Plaster Kenneth W. Pleasant Daniel D. Pleva Dwight A. Powell Kenneth O. Powell Warren A. Powell Willie S. Poyner Jr. Crayton E. Price Lynwood E. Pryor Jr. Opie D. Quesenberry William L. Rains Jr. Wayne B. Rammell Charles A. Reynolds William T. Rhodes Jr. Lee E. Richards Jerry B. Richardson Larry N. Richardson Sandra V. Richardson Haywood S. Richmond Edward L. Ricks Montie Ridley Christian D. Rilee Randolph M. Roane Jr. Eugene H. Roarty Brenda L. Roberson Kermit L. Roberson John J. Roberts Calvin W. Robinson Richard P. Robinson Jr. Lyman B. Robison Ronald D. Rogers Michael E. Rollins Keith M. Rote Jr. Brenda R. Roth Kenneth R. Rountree William L. Routten Irving G. Routten Jr. Thomas L. Ruffin Charles W. Russell Charles N. Ryan Burton W. Satterfield Jr. Joseph H. Schaffer Carol A. Scott Herbert L. Scott Robert L. Sealey William R. Sharp Jr. Charles C. Shaw Jr. David J. Shelton Richard E. Shreiner James M. Shumate McKinley Simmons Vincent H. Sinclair Michael J. Sivacek Earl H. Slade Jr. Curtis Sledge Linda L. Sleighter Andrew D. Smith Charles T. Smith Daniel L. Smith George C. Smith Jay R. Smith John E. Smith Linwood O. Smith Prince A. Smith Charlie E. Smith Jr. John W. Smith Jr. Edwin B. Smithwick Hampton V. Snidow Jr. Paul W. Soter Robert R. South III John W. Sparrow Jetty L. Spicer Alfred T. Spiller James M. Spratley Jesse R. Stallings Thomas W. Stamey Lucious D. Stanfield John N. Starmer Bennie C. Steele Ivery L. Steele Frank W. Stenson Arthur M. Stephenson Jr. Donald I. Steppe Randolph N. Stewart Theodore L. Stewart Carroll R. Stith Norman Stith Jr. Joel D. Stitzel Sr. Barbara M. Strickland William N. Strum Jr. Eugene R. Sturms Roy A. Stutts Jr. Samuel Styron Jr. Ralph E. Suggs Charles L. Sullivan George T. Swinson John N. Teague Jr. Dellmon P. Thomas Jr. John F. Thompson Walter E. Thompson Artie W. Thompson Jr. Milton B. Thornton Edward E. Tillage Jerry R. Tilley Larry W. Trent Yves R. Triolet David M. Turner Roland C. Turner Harold D. Tynes Thurl O. Tynes Robert W. Utley Thomas R. Vann Roger N. Vaughn John E. Viars Jr. Norfleet Vinson Jimmy K. Wagner Floyd M. Walker John E. Wall Roger D. Wall Eileen D. Wallace George T. Ward Lyle D. Ward Michael V. Ward Joseph R. Ward Sr. George W. Washington Ellis L. Wasserman Raymond C. Watson Jr. Judith F. Weatherly James B. Weeks James W. Weeks Paul Weidmann Chaffin L. Wesley Floyd A. West Jr. Herman K. West Jr. James M. Westphal Casper Whitaker Jr. Bobby R. White Gene White Gerald W. White Harry O. White Robert R. White Sandra C. White Lanier M. Whitley Charles T. Whitmore John T. Wiggins Jr. Anthony W.Williams Gennie Williams Kenneth F. Williams Paul D. Williams Lamar E. Williams Jr. Robert L. Willis Paul F. Willis Jr. Stephen W. Wills Alvin Wilson James E. Witt Martha E. Wolfley James B. Woodson Curtis B. Woolard Jr. James L. Worthington Theodore Wynder Sr. John W. Young Jr. Millard A. Zydron Jr.

Huntington's Continental Maritime division gets Navy overhaul contract

Mon, 18 Apr 2011 18:28:21 GMT

Huntington Ingalls Industries Inc.'s Continental Maritime Division received a U.S. Navy contract worth an estimated $120 million for pump and motor overhaul services aboard Navy ships in San Diego. Newport News-based Huntington, a product of Northrop Grumman Corp.'s spinoff of its shipbuilding unit, announced the new contract on Monday. "It has been over 13 years since Continental Maritime was a prime contractor, and this award is important in that respect," said Dan Flood, Continental's vice president and general manager. "This award provides us opportunities moving forward that we did not have in the past. Additionally, this contract gives CMSD the opportunity to showcase our superior mechanical and electrical repair capabilities." Continental received the contract along with two other companies. The pact will cover a period of five years, with each of the companies bidding against each other for associated work.

Huntington Ingalls schedules 1Q earnings release for May 11

Fri, 15 Apr 2011 15:55:21 GMT

Mark your calendars. Shareholders of Huntington Ingalls Inc. will get their first true snapshot of the company's finances on May 11, the date the Newport News-based shipbuilder releases its first quarterly earnings report. Huntington said yesterday that it will release its first quarter earnings before the stock market opens on Wednesday, May 11, and will host a conference call with Wall Street analysts at 9 a.m. the same day. If you're a shareholder, an interested party, or, of course, an employee, it's probably going to be worth your while to tune in to the webcast, which will be broadcast live on Huntington's website: http://www.huntingtoningalls.com. The calls typically last about an hour and will include comments by HII's President and CEO Mike Petters and CFO Barbara A. Niland. Petters and Niland will discuss the new company's financials and answer questions posed by analysts. It's usually a good chance to get a pretty good snapshot in time of where the company stands -- its strengths, opportunities and challenges. If you can't tune in at 9 a.m., the webcast will be archived on the company's website for awhile.

Who owns Huntington Ingalls?

Thu, 14 Apr 2011 18:39:09 GMT

Stock in Huntington Ingalls Industries Inc. (HII) first began publicly trading on the New York Stock Exchange just a couple of weeks ago. Initially, Wall Street had a pretty good idea who owned its shares: Northrop Grumman Corp. (NOC) shareholders, who were given one share of HII for every six shares of NOC they owned. After nearly two weeks of trading, the ownership picture has shaken up a bit. Boston-based State Street Corp., a giant financial holding firm, has reported an 11.2 percent stake in Huntington, the Newport News-based shipbuilding firm. State Street said it owned 5.47 million shares in Huntington worth $208.3 million, according to a filing with the federal Securities and Exchange Commission. The value is based on the stock's April 12 closing price of $38.05 a share. Shares of HII were at $39.53 in morning trading on Friday. State Street has about $21.5 trillion in assets under custody and administration, and $2 trillion under management as of Dec. 31, 2010.

Becky Stewart on the Mississippi submarine

Thu, 14 Apr 2011 16:20:30 GMT

We had a story today about the record-breaking pace of construction on the future USS Mississippi submarine. Huntington Ingalls and Electric Boat have made vast strides in their partnership building Virginia Class subs for the U.S. Navy, and each sub that rolls off the production lines in both shipyards continues to outperform the previous in terms of construction time and cost. Becky Stewart, Huntington's vice president of submarines, found some time late Wednesday to give us a comment about that progress, but we were unable to get it in the newspaper because it slipped in just after deadline. Here it is: “The shipbuilders at Newport News Shipbuilding are proud of their contributions on Mississippi – delivering modules to Electric Boat at the highest level of completion from all previous boats. This means we are completing more construction work and testing at the module level, earlier in the build process. This enables the continued acceleration of the boats that EB will deliver and those that we will deliver. This is a great example of the value that the Newport News shipbuilders are bringing to the Virginia class team.” -- Becky Stewart VP Submarines & Fleet Support Newport News Shipbuilding

Huntington Ingalls cuts jobs in San Diego

Wed, 13 Apr 2011 21:44:38 GMT

And so the cuts begin. Huntington Ingalls Industries Inc.'s Continental Maritime unit in San Diego is laying off 74 of its 400 workers within the next two weeks, a company spokesman confirmed. Bill Glenn, a Gulf Coast-based spokesman for Huntington, said Wednesday the cuts "are a result of budget delays creating an economic downturn of ship repair business in San Diego." Continental Maritime, a ship repair outfit on the San Diego Bay, will cut the jobs of 24 pipe fitters, 15 ship fitters, 7 mechanics, 6 boilermakers, 6 production support workers, 5 riggers, 4 painters, 4 sheet metal workers and 3 drivers, according to a public notice. Ship repair facilities have been among the most outspoken about potential job losses due to Congress' inability to pass a 2011 federal budget. Because the government is operating on 2010 spending levels, several ship repair projects have been stalled.

Petters on CNBC discussing Huntington Ingalls

Thu, 31 Mar 2011 21:27:14 GMT

Mike Petters spent about 4 minutes on the financial network CNBC this morning, discussing his shipbuilding business with two less-than-familiar hosts. It wasn't the best four minutes in television, to put it another way, and it wasn't Mike's fault. Nonetheless, it allowed the spotlight to shine on Newport News and its new Fortune 500 company, Huntington Ingalls Industries Inc. At one point in the interview, Petters made it clear that he doesn't view shipbuilding as a growth industry -- at least over the next five years. "We're not looking to try to grow the business at this point ... but the recovery is in earnings and cash on the bottom line over the next five years," he said. Northrop put $300 million in cash on Huntington's balance sheet last night to help with liquidity. "We're pretty liquid," Petters said. "We have a great structure to go and be successful coming out of the box." We're having problems embedding the video here, but you can find it here: CNBC.