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Aker American Shipping Signs Agreement With Hyundai Mipo

Aker American Shipping has, through its subsidiary Aker Philadelphia Shipyard, Inc., signed an agreement with Hyundai Mipo Dockyard Co. Ltd. extending the current relationship to include additional tankers as well as containerships. This further solidifies the strong partnership between Aker American Shipping, a leading Jones Act ship owner, and Hyundai Mipo Dockyard, a leading global shipbuilder. Under an agreement signed in 2004, Hyundai Mipo Dockyard (HMD) has been providing design and procurement services for a series of ten 46,000 dwt tankers currently being constructed at Aker American's shipyard in Philadelphia. The new agreement covers an additional six tankers, which mirrors an agreement in principle for additional charters with Overseas Shipholding Group, Inc. (OSG) that Aker American Shipping announced in February 2007, as well as exclusive rights for containerships.


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.


Kvaerner, RGI to Establish Joint Ownership for Shipyards

Aker Kvaerner and Aker RGI have entered into an agreement to establish a joint ownership for their wholly owned shipyards in Germany, respectively Kvaerner Warnow Werft and Aker MTW. Among other conditions, the agreement is dependent on approval from Aker Kvaerner's and Aker RGI's lenders. The aim is to implement the new ownership by the end of 2002. Aker Kvaerner will own 40 percent of the two yards. In February Aker Kvaerner and Aker RGI began working closely together in


OSG to Build More Tankers

(Pictured is Overseas Houston) Overseas Shipholding Group, Inc. (OSG), signed an agreement in principle pursuant to which Aker Philadelphia Shipyard, a subsidiary of Aker American Shipping ASA, will build up to six additional Veteran Class MT-46 Jones Act Product Tankers (three fixed plus three options). Once transferred to another Aker subsidiary, American Shipping Corporation, OSG will bareboat charter the vessels for initial terms of 10 to 15 years


Aker RGI Proposes Alternative to Redemption Offer

Aker Maritime previously obliged to postpone the agreed redemption of shares because of objections raised by the French company Coflexip. Aker RGI now offers to buy all the shares in Aker Maritime at the same price as in the redemption offer. In practice this means that the redemption can be carried out in spite of Coflexip's objections. In the original redemption offer the value of the Aker Maritime share was set at NOK 95


AAS to Split?

Aker's Aker American Shipping (AAS) reportedly has decided to split its business into a shipyard and a separate ship-owning company, according to a report on Forbes.com, a move reportedly designed to advance its business prospects in the U.S. Under the plans, American Shipping Corporation will be a vessel-owning subsidiary of AAS, while the shipyard activities will be organized into the newly-established company Aker Philadelphia Shipyard (APS), Forbes.com reported.


Aker Kvaerner Deepwater contract for GOM

Chevron, with partner Kerr-McGee, has awarded Aker Kvaerner, Inc. the semisubmersible hull and mooring system contract for their Blind Faith project in the Gulf of Mexico. The contract has a total value of approximately $120 million. Aker Kvaerner's scope of work includes engineering, procurement, construction and transportation. The award is a recognition of the deepwater competence in Aker Kvaerner. The Blind Faith platform to be located in the Mississippi Canyon 650 block


Contract Signed for SemiSub Platform

Statoil and Aker Kværner has signed the contract worth approximately NOK 8 billion for the semisubmersible platform to be located at the Gjøa field offshore Norway. This is in accordance with the memorandum of understanding presented in Aker Kvaerner's disclosure to the Oslo Stock Exhange at 29 September 2006. The scope of work to be performed by Aker Kvaerner will be detail design of topside and hull, procurement, construction and hook-up of topside, and mating of topside and hull


Aker Solutions, IHI Partnership on LNG Terminal

The Aker Solutions and IHI partnership has received a signed Notice of Substantial Completion for Sempra LNG's Cameron LNG liquefied natural gas (LNG) receipt terminal near Lake Charles, La.   The Cameron LNG terminal project combined Aker Solutions' expertise in regasification engineering, construction management, commissioning and start-up with IHI's design and manufacturing knowledge of LNG storage and processing systems.  


Aker Solutions Secures New UK Contract

Aker Solutions has secured a contract for maintenance, modifications and operations work with an undisclosed customer in the UK sector of the North Sea. The two-year contract will guarantee over 180 jobs annually for Aker Solutions in Aberdeen, UK. There are also two optional one-year contract extensions that may be exercised in the future. Aker Solutions estimates the contract value to be approximately £13 million per year


Aker Philadelphia to Pay Dividend

Aker Philadelphia Shipyard

  On 6 May 2015, the Board of Directors of Aker Philadelphia Shipyard ASA resolved to pay a dividend to the shareholders of AKPS as of expiry of 12 May 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment of previous


Baltika's DP and Autopilot Pass Ice Trials

Baltika icebreaking (Photo: Aker Arctic)

The dynamic positioning control system and autopilot onboard the icebreaking rescue and emergency vessel Baltika have been approved as meeting performance expectations, following a set of Arctic ice trials in the Kara Sea.   Developed by Finnish company Aker Arctic Technology


AVEVA, Aker Solutions Ink Deal for AVEVA Everything3D

Aker Solutions selected AVEVA Everything 3D to be its strategic 3D tool on plant design, modification and maintenance projects.

  AVEVA establishes long-term partnership with Aker Solutions for the use of AVEVA Everything3D as a core part of the company’s strategic design platform Cambridge, UK: AVEVA today announced that it has entered a multiyear agreement with Aker Solutions for AVEVA Everything3D (AVEVA


ABB to Make Robots in the US

Courtesy ABB

  ABB announced today it will start production of robots in the United States, making it the first global industrial robotics company to fully commit to and invest in a North American robotics manufacturing footprint. The company made the announcement at the opening of a new robotics plant


Aker Philadelphia Shipyard Finalizes $60M Loan

  Aker Philadelphia Shipyard ASA informed that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has executed definitive documentation with PIDC Regional Center, LP XXXI for a secured term loan of up to USD 60 million.


Changes in Aker Solutions' Top Deck

Chief Executive Officer Luis Araujo

  Tore Sjursen will assume the position as executive vice president for operational improvement and risk management at Aker Solutions on April 1. Knut Sandvik will at the same time replace Sjursen as head of the company's maintenance, modifications and operations business.


All American Marine Delivers Ferry to Seattle

   The maiden voyage of the MV Sally Fox (photo courtesy of All American Marine)

All American Marine, Inc. (AAM) today announced the delivery of a new passenger ferry that will serve the city of Seattle.    The vessel, MV Sally Fox, was dedicated at a ceremony on Vashon Island on Saturday. The Sally Fox is the first of two new ferries ordered by King County’s


US Shipping Lines May Return to Iranian Ports

Shahid Rajaee Port: Port and Maritime Organization, Iran

 Iran is expecting American shipping lines to visit its ports once the economic sanctions against it are lifted in light of the emerging comprehensive final agreement over the Iranian nuclear energy program, reports Press TV.   Iranian deputy minister of road and urban development


Riverboat to be Christened in New Orleans

First Lady of New Orleans, Cheryl Landrieu, to Christen American Cruise Lines’ American Eagle riverboat   American Cruise Lines announced the christening of its second Mississippi River paddlewheeler, the American Eagle, on April 25, 2015 in New Orleans


Garamendi Calls for US Shipbuilding Revitalization

Were going to build in America and Make It In America one ship, two ships, one hundred ships at a time, Garamendi said at Bay Planning Coalition Meeting.

Congressman Garamendi Makes Case for Revitalization of American Shipbuilding Industry and American Jobs at Bay Planning Coalition Meeting in Oakland   Today, Congressman John Garamendi (D-Fairfield, Calif.), the Ranking Member of the House Committee on Transportation and


Aker, Fjords Join Forces

Courtesy of Aker Solutions

  Aker Solutions and Fjords Processing have formed an alliance to develop technology and capabilities for advanced, cost-effective wellstream separation and treatment solutions for the subsea and topside oil and gas industry. The WellSep alliance will apply Aker Solutions' subsea


AWO Urges for Congressional Support

At the Annual Barge-In, members of the American Waterways Operators discuss economic, environmental and commercial issues with members of Congress. (Photo: American Waterways Operators)

Nation's Tugboat, Towboat and Barge Industry to Call on Congress: Urge Support for Vessel Discharge Reforms, American Jobs and Waterways Reliability   The American Waterways Operators (AWO), the national trade association representing the tugboat, towboat and barge industry


Icebreakers Ordered for Neft’s Novy Port Project

Image: Aker Arctic

Aker Arctic’s icebreaker design selected for Gazprom Neft’s Novy Port project   Aker Arctic and Vyborg Shipyard have confirmed a contract for the design of two new icebreakers based on Aker ARC 130 A design. The icebreakers will be used in the oil terminal operated by LLC


Vyborg Shipyard to Build Icebreaker

Image: Vyborg Shipyard

 Vyborg Shipyard signed a License and Concept Design Agreement with the Finnish engineering company Aker Arctic Technology for two icebreaking support vessels.   Two multifunctional diesels-electric- powered icebreakers 22 MW will be built at Vyborg Shipyard by order of LLC Gazprom


Aker Solutions 1Q 2015 Revenue Up

Courtesy of Aker Solutions

Aker Solutions announced their Financial Results for the first quarter of the current calendar year. Financial Highlights  * Sales NOK 8.5 billion in 1Q 2015 vs NOK 7.5 billion in 1Q 2014  * Earnings before interest, taxes, depreciation and amortization (EBITDA) NOK 591 million vs






 
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