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AKER PHILADELPHIA SHIPYARD

Aker Philadelphia Shipyard announces new CEO

Kristian Røkke has been appointed President and CEO of Aker Philadelphia Shipyard ASA (AKPS). He replaces Jim Miller who has been appointed Executive Vice President of Aker Contractors’ US Onshore Engineering & Construction business and member of Aker Contractors’ new Executive Management Team. Mr. Miller is also nominated for the position as Chairman of the Board at Aker Philadelphia Shipyard.   Kristian Røkke will take over as President and CEO of the Yard effective April 5, 2011. Mr. Røkke is currently the Senior Vice President of Operations at Aker Philadelphia Shipyard and has been in key operating positions at the facility for the last 4 years.    “Kristian Røkke has been instrumental in the successful construction and delivery of the 12 product tanker series,” said current CEO Jim Miller. “We know each other well and we will work together to ensure a smooth transition. Kristian has shown remarkable progress and results in all positions he has held at the yard. I congratulate him and have high expectations for his ability to ensure the future success of Aker Philadelphia Shipyard,” Miller said.   From his new position as CEO, Mr. Røkke will lead the transitioning of the Yard to win orders for new Jones Act vessels, particularly in the containership, dry cargo, and barge markets which are expected to be key future markets


Aker and OSG Announce Agreement for up to Six More Tankers

Aker American Shipping ASA and Overseas Shipholding Group, Inc. announced that they have signed an agreement in principle pursuant to which Aker American Shipping subsidiary, Aker Philadelphia Shipyard, will construct up to six additional Veteran Class MT-46 Jones Act Product Tankers (three fixed plus three options) and transfer them to another subsidiary, American Shipping Corporation, which will bareboat charter them to subsidiaries of OSG for initial terms of 10-15 years.


Aker Philadelphia’s 9th Product Tanker

Photo courtesy Aker Philadelphia Shipyard

On March 10, Aker Philadelphia Shipyard (Oslo: AKPS) launched Ship 013, the ninth product tanker in a series of 12 to be completed by 2011. The 46,000 dwt vessel was floated off of its blocks and was transferred by tug from the Building Dock to the Outfitting Dock, where it will remain for the next few weeks as it undergoes continuous testing and commissioning in preparation for its upcoming sea trials. When completed, the 600-ft long vessel, to be named the Overseas Martinez


Aker Philadelphia Shipyard forms Philly Tankers

Kristian Rokke, Chairman of AKPS

Aker Philadelphia Shipyard and financial sponsors, including American Shipping Company and funds affiliated with Apollo Global Management, create pure play Jones Act shipping company, Philly Tankers. Aker Philadelphia Shipyard ASA (OSE: AKPS) is pleased to announce the planned establishment of Philly Tankers AS, a Norwegian limited liability company, and its wholly-owned subsidiary, Philly Tankers LLC, a Delaware limited liability company (together “Philly Tankers”)


Aker Philadelphia Delivers Third Product Tanker

The third product tanker built by Aker Philadelphia Shipyard was delivered today, marking the first time in the yard’s history that three vessels were delivered in the same year. Following very successful sea trials and final testing and commissioning, the ship joins two sister vessels in American Shipping Corporation‘s growing fleet of double-hull product tankers operating for charter in the US Jones Act Market. As were its two predecessors


Crowley Maritime Re-enters Jones Act Tankship Market

Veteran-class Tankship: Photo credit Crowley

Crowley Maritime purchases two new 'Jones Act' tankers from Aker Philadelphia Shipyard. Crowley Maritime Corporation’s petroleum and chemical transportation group announce that it has purchased two new Jones Act tankers, the Pennsylvania and the Florida , from Aker Philadelphia Shipyard ASA. The tankers, scheduled for delivery in September 2012 and March 2013, mark Crowley’s re-entry into the Jones Act tanker market since its last tanker was retired in 2011.


Matson's New Ship Christened

The new Matson Navigation Co. containership MV Maunalei was christened at the Aker Philadelphia Shipyard. The christening, the traditional kind involving breaking a bottle of champagne, was undertaken by Millie Akaka, wife of Sen. Daniel Akaka. Also on hand were Hawaii Rep. Neil Abercrombie and Guam Rep. Madeleine Bordallo. The MV Maunalei is the fourth new containership built by the shipyard for Matson in the past four years


Aker Philadelphia Shipyard ASA : Purchase of own shares

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  Aker Philadelphia Shipyard ASA (the "Company") (Oslo: AKPS) has on 21 July 2014 purchased 2,155 shares in the Company on Oslo Axess at an average price of NOK 160.64 per share with a total consideration of NOK 346,190. Following the transaction, AKPS holds a total of 2,155 own shares, constituting approximately 0.02% of the Company's shares and votes. Reference is made to the stock exchange notice of 17 July 2014 where AKPS announced a buyback program for up to 10% of the


Tanker Shuffle at Aker Philadelphia

The two shuttle tankers are intended for bareboat charter to Overseas Shipholding Group, who will time charter the vessels to Petrobras for operation in the . Without financing in place for the shuttle tankers, Aker Philadelphia Shipyard cannot draw on its committed construction financing facility to build these vessels and, therefore, the building sequence will be changed. AMSC notes that the shipbuilding contracts and bareboat charters for the shuttle tankers provide flexibility with


Tesoro Affiliate Secures Additional Tankers in Aker Philly Build Program

Charter agreements have been signed for two more of the 10 Jones Act commercial product tankers being built at Aker Philadelphia Shipyard. The agreements were made between Gold Star Maritime Company, an affiliate of Tesoro Corporation (Tesoro), and Overseas Shipholding Group Inc. (OSG), which has partnered in the new fleet with Aker American Shipping (AKASA), parent company of the shipyard. As part of the Aker group of companies, Aker American Shipping, in conjunction with its subsidiaries


Aker Philadelphia Shipyard Accepts Shares Tendered

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  Reference is made to the open market partial tender offer for up to 650,000 shares of Aker Philadelphia Shipyard ASA announced on 7 August 2014.   Pursuant to the offer, only a limited number of shares were tendered to the company


Aker Philadelphia Shipyard ASA: Purchase of own shares

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  Aker Philadelphia Shipyard AKPS), a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market, has on July 25, 2014 purchased 1,465 shares in the Company on Oslo Axess at an average price of NOK 158.68 per share, implying a total consideration of NOK 232


Aker Philadelphia Shipyard to Pay Dividend

Aker Philadelphia Shipyard

  ]On July 16, 2014, the Board of Directors of Aker Philadelphia Shipyard ASA (Oslo: AKPS) resolved to pay a dividend to the shareholders of AKPS as of expiry of July 22, 2014, of NOK 1.5 per share, in aggregate NOK 18,862,149. The resolution was made pursuant to an authorization granted


Aker Philadelphia Shipyard : Buyback Program of Own Shares

 Aker Philadelphia Shipyard

The Board of Directors of Aker Philadelphia Shipyard ASA has resolved to initiate a buyback program for up to 10% of the Company's share capital. The decision reflects the Company's focus on maximizing shareholder returns over time, its strong financial position


Philly Tankers Step Closer to Its First Vessels

Philly Tankers Step Closer to Its First Vessels

  Following the announcement of 10 June 2014 by Aker Philadelphia Shipyard ASA  (AKPS) Philly Tankers had successfully secured equity commitments necessary to finance the purchase of two product tankers from AKPS with deliveries in 2016 and 2017.


Aker Philadelphia Shipyard Ratchets Up Q1 2014 Profit

Aker Philadelphia Shipard view: Image courtesy AKPS

Aker Philadelphia Shipyard (AKPS) has reported its highest ever quarterly result, with an EBITDA of USD 24.2 million and net income of USD 17.8 million, an increase relative to Q1 2013 of 27% and 48%, respectively.  The increase was driven by the gain recorded from the sale of AKPS’s


Aker Shipyard Provides Clarification on Crane Incident

file photo: Aker Shipyard, Philadelphia

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (AKPS) has released an update regarding an incident that occurred yesterday at its facility. According to Aker, numerous factually incorrect news reports have emerged


Aker Starts Building First Product Tanker for Crowley

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production activities today on the first product tanker that it is building for its joint venture with Crowley. Crowley and APSI have signed contracts for the first four


Aker Philadelphia Lay Keel of Second SeaRiver Tankship

Keel-laying ceremony: Photo credit Aker Philadelphia

Aker Philadelphia Shipyard, Inc. (APSI) has held a ceremonial keel laying for the second of two Aframax tankers that it is building for SeaRiver Maritime, Inc., a Exxon Mobil Corporation’s U.S. marine affiliate. When completed in 2014


Matson Orders Engines for New Containerships

Artists depiction of 3,600 TEU containerships

Matson Navigation Company, Inc., a U.S. carrier in the Pacific Ocean, announced an order today for two MAN B&W, 7S90ME-GI dual fuel engines with liquefied natural gas (LNG) capability to be installed aboard two new “Aloha Class” 3


Matson Newbuildings Opt for MAN Dual-fuel Engines

Dual fuel S90MEGI engine: Image credit MAN

Matson Navigation Company has placed an order for two 3,600 TEU container ships, powered by two MAN B&W 7S90ME-GI dual-fuel engines. The deal includes an option for three further vessels.
 
The engines are the largest dual-fuel engines ever ordered in terms of power output with each engine


Doyle Talks LNG, Exports, Panama Canal with Japanese Officials

From left: Kazuhiro Yokoi (Chubu Electric Power Company), David Tubman (FMC), Yoshiro Taguchi (Japanese Embassy), Hidehiro Muramatsu (Japan Oil, Gas, and Metals National Corp.), William Doyle (FMC Commissioner), Takashi Horie (Mitsubishi), and Nobukazu Nagai (Japan International Transport Institute, USA).

Earlier this week, Commissioner William P. Doyle met with Japanese public and private sector officials to discuss U.S. natural gas, exports, and the Panama Canal. Japan is the world's largest importer of liquefied natural gas (LNG). The country has relied on imported natural gas for decades as


Matson, Aker Ink Shipbuilding Deal

Artists Depiction of 3,600 TEU containerships

Matson Signs Contract With Aker Philadelphia Shipyard For Two New "Aloha Class" Containerships, First Ship To Be Named The Daniel K. Inouye. Matson, Inc., a U.S. carrier in the Pacific, announced today that its subsidiary, Matson Navigation Company, Inc


Aker Philadelphia Welcome Back Governor Corbett

Governor Tom Corbett: Photo courtesy of State Office

Aker Philadelphia Shipyard, Inc. (APSI) has welcomed Governor Corbett back for an update on the state of the shipyard and a tour to view progress on the current tankers APSI is building for SeaRiver Maritime. The last time Governor Corbett visited APSI was in September 2011 for the contract


Jensen Get Tankship Construction Management Contracts

Ray Martus with his wife Trish Martus: Photo courtesy of Jensen Maritime

Jensen Maritime Consultants , Crowley Maritime's Seattle-based naval architecture and marine engineering company, has been awarded a new construction management contract for four new 330,000-barrel, Jones Act product tankers, being built by Aker Philadelphia Shipyard Inc.






 
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