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Globalstar covers next gen constellation
Following a somewhat lengthy process, Globalstar has finally netted the launch-plus-one package for its 24 satellite next generation LEO constellation. The placement was reasonably complicated as it involves four separate launches, with the first six…
Following a somewhat lengthy process, Globalstar has finally netted the launch-plus-one package for its 24 satellite next generation LEO constellation. The placement was reasonably complicated as it involves four separate launches, with the first six satellites expected to be launched in September or October if this year. Despite these complexities, Globalstar is understood to have secured a very competitive rate, believed to be a market low for a LEO constellation.
The insurance was placed by ISB, who also brokered the launch insurance for the eight spare satellites that Globalstar launched in 2007. Willis was the broker for the original constellation that was launched between 1998 and 2000.
