Sea Launch Back in Action With Successful Launch

Sea Launch is back after a two-year hiatus after a Zeni-3SL rocket launched the ATLANTIC BIRD™ 7 broadcast satellite into orbit from the ocean-based Odyssey Launch Platform. One hour and seven minutes after launch from the equatorial location, a Block DM-SL upper stage fired to send the Eutelsat satellite into an equatorial transfer orbit. Officials report the launch went as planned and that the satellite is performing as expected.

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Boeing Wants $356 Million from Former Sea Launch Partners

Boeing Still Seeking $356M from Sea Launch Partners
Space News

Boeing has not abandoned its effort to collect $356 million from its former Sea Launch commercial launch service partners in Russia and Ukraine despite an initial setback at a Swedish arbitration panel, saying the companies in question “have the wherewithal to pay,” Boeing said Feb. 9.

Long Beach, Calif.-based Sea Launch is emerging from bankruptcy with fresh cash provided by an affiliate of RSC Energia of Korolev, Russia, the company that Boeing says owes nearly two-thirds of the money it is seeking for reimbursement of loans and bank guarantees it made to Sea Launch.

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Country Report: Prospects for Ukraine’s Space Effort Looking Up

The first stage of Orbital Sciences Corporation's Taurus II vehicle is shipped out from Yuzhnoye design bureau in Ukraine. (Credt: Yuzhnoye)

After the breakup of the Soviet Union in 1991, newly independent Ukraine was left with some significant space assets from which to build  a national program. Ukrainian companies build the Zenit, Cyclone and Dnepr launch vehicles that are used for satellite delivery. The nation also recently shipped the first stage for Orbital Sciences Corporation’s new Taurus II rocket.  Ukrainian companies contribute to the construction of Russian Soyuz and Progress vehicles, which ferry crews and supplies to the International Space Station. Ukraine also has the capability of building satellites and defense systems and has ground receiving stations.

The National Space Agency of Ukraine under Dr. Yuriy Alekseyev oversees the country’s space efforts.  Although overshadowed by its larger Russian counterpart, Roscosmos,  the NSAU is building on its Soviet-era foundation in an effort to become a force in international space.  The agency has continued to move forward despite funding difficulties, a global recession, and the bankruptcy of the Sea Launch consortium that uses the Zenit rocket. The nation, whose commercial space industry totaled $254 million in 2009, remains heavily dependent upon the Russian market although it is making major efforts at increasing its international cooperation and standing.

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Sea Launch Emerges From Bankruptcy

SEA LAUNCH PRESS RELEASE

Sea Launch Company has successfully completed its Chapter 11 reorganization process, effective October 27, 2010. As part of the court-approved Plan of Reorganization, Energia Overseas Limited (EOL), a Russian corporation, will have acquired a majority ownership of the reorganized Sea Launch entity.

The Plan of Reorganization was approved by Judge Brendan Shannon, in the U.S. Bankruptcy Court in Wilmington, Delaware, on July 27, 2010. The successor entity, Sea Launch S.a.r.l., will be responsible for corporate functions at its operations headquarters and will maintain some assets at Sea Launch Home Port, in the Port of Long Beach, in Southern California.

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Bankrupt Sea Launch Gets More Financing – Heinlein Prize Trust Involved

Mystery Group Invests More in Bankrupt Sea Launch
Space News

Commercial launch-services provider Sea Launch Co., which has been in Chapter 11 bankruptcy proceedings since June, on Feb. 25 received $3 million in cash from the same group of investors that provided an initial tranche of financing to keep the company in operation, according to documents filed with the Delaware Bankruptcy Court.

Further payments totaling $9 million will be distributed in three monthly increments starting in March on condition that Long Beach, Calif.-based Sea Launch begins to secure commercial launch contracts, according to court documents…

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Excalibur Almaz, PlanetSpace Bailing Out Bankrupt Sea Launch

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A bit more information on the Sea Launch bankruptcy reorganization – which includes Excalibur Alaz (which is planning to launch a space station) and U.S.-based PlanetSpace:

Excalibur Almaz and PlanetSpace are working to provide exit financing through Space Launch Services, LLC (“SLS LLC”), as well as equity investment in a reorganized Sea Launch, for the purpose of sustaining reliable commercial access to space. SLS LLC is led by Bohdan (Bo) Bejmuk, an aerospace consultant with in-depth knowledge of space systems and launch vehicles. In parallel with its focus on the reorganization process, Sea Launch successfully completed the launch of the Intelsat 15 satellite on November 30, on a Zenit-3SLB vehicle from the Baikonur Space Center in Kazakhstan. This is Sea Launch’s fourth and final launch campaign of 2009.

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Excalibur Almaz Part of Investment Group Bailing Out Sea Launch

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Sea Launch Investor Group Includes Familiar Names
Space News

The unidentified investor group providing initial financing to Sea Launch Co., the commercial launch provider that is in Chapter 11 bankruptcy proceedings, includes an Isle of Man-based company created in 2005 to build a space tourism business using existing Russian hardware, according to industry officials.

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Boeing Likely to Walk Away from Sea Launch

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Boeing expected to end stake in rocket firm Sea Launch
Los Angeles Times

After struggling for nearly 15 years to prop up an unusual way to launch satellites into space, Boeing Co. is expected to throw in the towel and walk away from its stake in Long Beach-based Sea Launch Co.

Kjell Karlsen, Sea Launch president, said Wednesday that Boeing was likely to have little or no ownership position in the rocket launch company after it emerges from Chapter 11 Bankruptcy Court reorganization early next year.

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Bankrupt Sea Launch Receives Approval for Refinancing

sea_launch_zenitSEA LAUNCH PRESS RELEASE

Sea Launch Company, LLC, a leading provider of launch services to the commercial satellite industry, has received interim approval from the U.S. Bankruptcy Court in Delaware on its motion to secure up to $12.5 million in debtor-in-possession (DIP) financing from Space Launch Services, LLC.

This credit facility will provide working capital to continue Sea Launch operations as the company moves through its Chapter 11 reorganization process. In the next few months, Sea Launch will be preparing a Plan of Reorganization as well as securing exit financing and finalizing a revitalized supply chain management structure.

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Bankrupt Sea Launch Drafting Reorganization Plan

Sea Launch consortium to draft reorganization plan by fallsealaunch
Interfax

The Sea Launch international consortium, which announced its bankruptcy last week, will draft a corporate reorganization program within two months, consortium press secretary Paula Korn told Interfax. She said reorganization options would be presented to the Delaware bankruptcy court.

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Fears Grow of Higher Launch Costs After Sea Launch Bankruptcy

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Sea Launch Bankruptcy Stokes Fears of Rising Launch Prices
Space News

Major commercial satellite fleet operators said the June 22 Chapter 11 bankruptcy filing by Sea Launch Co. LLC is bad news for the health of the industry despite repeated claims by some launch service providers that the global market is oversupplied with rockets.

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Boeing Faces Half Billion Dollar Charge on Sea Launch Bankruptcy

sealaunchSea Launch bankruptcy could cost Boeing $478 million
Seattle Post-Intelligencer

Boeing subsidiary Sea Launch Co. LLC, which provides ocean-based launch services to the commercial satellite industry, has filed for Chapter 11 bankruptcy protection — and that could end up costing Boeing $478 million.

In the second quarter of 2009, Boeing expects a pre-tax charge of about $35 million, the Chicago-based aerospace firm said Thursday in a regulatory filing. The company said that if it is unable to get reimbursement from Sea Launch or its partners, its total charges could be $478 million.

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Sea Launch Files for Bankruptcy

sealaunch

SEA LAUNCH PRESS RELEASE

Sea Launch Company L.L.C. and Sea Launch Limited Partnership and subsidiaries (“Sea Launch” or “Company”), a leading provider of launch services to the commercial satellite industry, has filed voluntary petitions to reorganize under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in Wilmington.

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