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KVAERNER PHILADELPHIA SHIPYARD

Kvaerner Philadelphia Places $60 Million Worth Of Supply Orders

Kvaerner Philadelphia Shipyard, part of the Anglo-Norwegian engineering and construction group, to date, has placed supply orders for nearly $60 million with local and regional businesses in and around Philadelphia for ship construction materials and services. Additional amounts are spent regularly with local suppliers to support the shipyard's daily operations. "This is evidence that the promises made to tax-payers in 1998 are now starting to have a real impact in the community," said Ron McAlear, newly appointed President & CEO of the Kvaerner Philadelphia Shipyard. "We're in the process of establishing a strong supplier network that can service the yard in the years to come. Work on the construction of the yards' first ship - a container vessel - started at the end of March this year. The first ship is being built by Kvaerner for later sale into the market place and will also be used as an extension of the employee training program. Construction and development work of the yard now nears completion and the facility currently employs a total staff of 400.


MARAD Approves Title XI Funding Containerships

The U.S. Maritime Administration (MARAD) issued a Bulletin announcing that it has approved Title XI funding for two U.S.-flag containerships. The ships are will be built in the Kvaerner Philadelphia Shipyard for Matson Navigation Company.


Kvaerner Makes Commitment to Philadelphia Shipyard

Even if Kvaerner Group is unsuccessful in selling its Philadelphia operation, Europe's largest shipbuilder does not plan to leave the shipyard high and dry. The firm announced it will sell or close its 13 shipyards around the world due to low profits, but would try to find a buyer for the Philadelphia shipyard. If a buyer is not found, "then Kvaerner must continue," said Harald Rafdal, CEO of Kvaerner Philadelphia Inc


History Repeats Itself In the “City of Brotherly Love”

A new development within the realm of U.S. Shipbuilding — the new Kvaerner Philadelphia Shipyard (KPSI) is poised to be one of the most efficiently outfitted commercial shipyards in the world. The shipbuilding company, which occupies approximately 114 acres on what used to be the Philadelphia Naval Shipyard, utilizes a section of the former Naval yard, which was closed down in 1996 by the U.S. Government due to lack of funds


Kvaerner Drops Plan To Dump Shipyards

Kvaerner ASA has postponed a planned sale of its Masa-Yards Finnish shipbuilding unit in a new setback to its goal of exiting shipbuilding. Kvaerner said it had failed to find a right buyer for Masa-Yards, which specializes in building cruise ships and has an order reserve of $2.6 billion, and would instead concentrate on raising the unit's profitability. "Talks (about a sale of Masa) have not led to a satisfactory agreement," the company said in a statement


Kvaerner and Aker Join Forces in Shipbuilding

Kvaerner announced that it has agreed with Aker RGI Holding to establish a jointly owned shipbuilding management company. Together, the two groups own 12 shipyards in Europe, and one in the USA and Brazil. These yards have a total of some 13,500 employees with combined revenues of $2.2 billion. Kvaerner and RGI have on a number of previous occasions stated the intention to merge their respective shipbuilding operations in the future


Andrew E. Gibson: A Life Dedicated To Maritime

Andrew Edward Gibson died on July 8, 2001, at the age of 79 in Short Hills, New Jersey. His final decade, after a life of notably active achievements, had been primarily devoted to scholarship, at the Naval War College where he taught, and in work with Kings Point Professor Arthur Donovan, in the preparation of a history of United States maritime policy, published in 1999 as The Abandoned Ocean, and of a to-be-published history of containerization.


New Repair Yard to Set up Shop in Philly

Reports indicate that a company that has repaired cruise ships plans to set up a second operation in Philadelphia. The new shipyard will be called PennShip Service. Under an agreement, PennShip will lease the site next to the Aker Philadelphia Shipyard. The sites are part of the former Philadelphia Naval Shipyard, which closed in 1996. Source: AP


Aker Philadelphia Shipyard, 10th Tanker

Aker Philadelphia Shipyard (Oslo:AKPS), a leading U.S. commercial shipyard, cut steel on Hull 014, the tenth product tanker in the series of twelve to be built for American Shipping Company (Oslo:AMSC). Production of this vessel begins a few days after the successful delivery of Hull 010, the Overseas Boston. A small ceremony was held this afternoon to commence production and was attended by representatives of Aker Philadelphia Shipyard, OSG


Pemamek Wins Contract

ASPI_Yard_aerial_web.jpg

Pemamek Oy Ltd was recently awarded a contract of Aker Philadelphia Shipyard, construction and delivery of a micro panel line. Commissioning in early 2013, the new modern micro panel line replaces the existing one. This new line will increase the shipyard’s productivity and therefore improve Aker Philadelphia Shipyards positioning at the market. Additionally, Pemamek Ltd contracted a yearly maintenance contract for the equipment and software for fully support in periodical


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.


Kværner Yard to Upgrade H-6e Offshore Drill Rig

Offshore drilling rig: Photo courtesy of Kvaerner

Norway's Kværner ASA informs that the  H-6e drilling rig 'Transocean Barents' will arrive Kvaerner's facilities at Stord this week for a two month yard stay. The main purpose of the stay is the five year classification of the rig, as well as upgrade and modification work.


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


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


Kværner to Play Part in Construction of Enormous Offshore Spar Platform

The Stord shipyard: Image courtesy of Kværner

Norway's Kværner ASA say that Technip Norge AS has awarded them a sub-contract for the Fjord Base and Support Services up-ending and preparation for mating operations of the sub-structure for the Aasta Hansteen Spar platform. With a total length of 198 meters


Board Changes at Aker Arctic Technology

After the acquisition of 66.4% of the shares by Finnish Industry Investment Ltd (fully owned by the State of Finland) Aker Arctic Technology Inc.’s extraordinary shareholders’ meeting today appointed the new Board of Directors for the company.


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


Kvaerner Gets Offshore Spar Topsides Sub-Contract,

Example of Kvaerner topside work: Image courtesy of Kvaerner

Hyundai Heavy Industries (Hyundai) has awarded Kvaerner a sub-contract to provide services for inshore and offshore hook-up and commissioning assistance for the topsides for the Aasta Hansteen spar project.  The inshore-work will be carried out at Stord and the offshore scope will be done at


Maersk Line Art-Box Arrives in Philadelphia

Photo: Maersk Line

Frozen mussels from New Zealand to Port of Philadelphia begins Art-Box’s journey around the world to promote value of global container shipping Maersk Line, an ocean transportation company and a unit of the Maersk Group, announced today the arrival of the Maersk Line Reefer Art-Box


Kværner Deliver Strong Q1 2014 Results

Topside construction: Image credit Kværner

Leading contractor for deliveries of complete upstream oil & gas offshore platforms and onshore plants, Norway's Kværner ASA, reports  operating revenues for the first quarter of 2014 wer NOK 3,489-million which is an increase of 31 percent compared to NOK 2 663 million in first


Kvaerner Delivers Eldfisk 2/7 S Topside

Photo: Kværner

The Eldfisk 2/7 S topside leaves Kvaerner's yard at Stord today after being completed in April as planned, on time and to the specified quality. In March 2011 Kvaerner signed a contract with ConocoPhillips to deliver the topside for the Eldfisk 2/7 S integrated production platform


Latest DoD Contracts

USS Hue City: Photo USN

Contracts have been awarded by the U.S. Department of Defense to Great Lakes Dredge & Dock, NASSCO-Mayport, Timken Gears & Services Inc., and Colonna's Shipyard, Inc. Details as follows: 1. Great Lakes Dredge & Dock (GLDD- dredging contract


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


Kvaerner in Big Statoil Offshore Platform Deal

Platform topsides: Photo courtesy of Kvaerner

Kvaerner says it has established a frame agreement with Statoil for delivery of steel jacket substructures to Statoil-operated fields.  Based on this frame agreement, Statoil has signed a Letter of Intent (LoI) for Kvaerner to deliver two of the planned steel jackets to the Johan Svedrup


Norway's Kvaerner and China's COOEC form Joint Venture

China Offshore Oil Engineering Company (COOEC) and Norway's Kvaerner are setting up a joint venture in China to conduct oil engineering projects worldwide in the second international cooperation deal for the Chinese firm in six months. In December last year COOEC set up a joint venture with






 
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