Lease MARISAT Satellites For Use In Three Oceans

COMSAT General announced recently that INMARSAT, the International Maritime Satellite Organization, will lease commercial communications capacity for $10.5 million in all three existing MARISAT satellites.

At its recent meeting held in London, the INMARSAT Council approved the leasing of the commercial capacity in MARISAT communications satellites for maritime purposes in the Atlantic and Indian Oceans. The satellite capacity in the Atlantic Ocean will be leased for nine months for $3.5 million and in the Indian Ocean for one year at $2.0 million, both beginning February 1, 1982. In November 1980, INMARSAT had agreed to lease the commercial capacity of the Pacific Ocean MARISAT satellite for a two-year period for $5.0 million, also beginning on February 1, 1982.

The lease agreements pave the way for the smooth transition from MARISAT, developed and operated by COMSAT General, to the 36-member nation INMARSAT organization and the continuation of high quality telephone and telex service to the maritime industry.

COMSAT General will receive 86.29 percent of the $10.5 million in revenues from INMARSAT, the percentage of COMSAT General's share in the Marisat Joint Venture. The remaining 13.71 percent share will be divided among RCA, ITT, and Western Union International in proportion to their ownership interests in MARISAT.

In other action during the Council session, L.F.T. Perrone of Brazil, the current vice chairman of the Council, was elected chairman. Edward J. Martin, the head of maritime services for COMSAT World Systems Division, was elected vice chairman.

They will serve for the next year.

Mr. Martin also will serve as chairman of INMARSAT'S newly created finance committee.

INMARSAT was established in July 1979. COMSAT, as the U.S.

representative in INMARSAT, has an investment share of about 23 percent. The next four highest investment shareholders in INMARSAT are the USSR, the United Kingdom, Norway, and Japan.

Maritime Reporter Magazine, page 25,  Sep 1981 Todd Shipyards Corporation One State Street Plaza

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.