ORBCOMM Inc., a global satellite data communications company focused on two-way M2M communications, announced recently that it has reached a settlement with its satellite insurers on all claims relating to the Coast Guard Demonstration satellite and five quick launch satellites.
Reportedly, the company has received a $44.2 million insurance settlement related to its Quick Launch satellite program, which failed after launch in June 2008.
ORBCOMM (News - Alert) initially had filed for a $50 million insurance claim in November for the six Quick Launch satellites, the group of spacecraft, manufactured by OHB.
ORBCOMM now retains ownership of the two quick launch satellites still operating.
The Coast Guard Demonstration satellite and five quick launch satellites were launched by the company using a Cosmos 3M (News - Alert) launch vehicle. These satellites, at that point, were believed by the company to have higher capacity to enhance ORBCOMM’s network performance and were placed in an optimum orbit to augment other satellites, to provide faster message delivery for the company’s new and existing customers.
Since launching, communications capability for three of the quick-launch satellites and the CDS was said to have been lost.
ORBCOMM has been enabling narrow band two-way digital messaging, data communications and geo-positioning services on a global basis.
The company owns and operates a network consisting of Low Earth Orbit satellites and terrestrial gateways deployed around the world. Key focus is on four core markets: commercial transportation, heavy equipment, industrial fixed assets and marine/homeland security. ORBCOMM-based products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. Jai C.S. is a contributing editor for TMCnet. To read more of Jai's articles, please visit his columnist page.
Edited by Marisa Torrieri