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 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 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
(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 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
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.
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
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
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 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
OJSC Magnitogorsk Iron and Steel Works (MMK) has been selected as the key steel supplier in the construction of nuclear icebreakers (Project 22220) at the Baltic Shipyard, part of United Shipbuilding Corporation. A 60MW universal nuclear icebreaker known as Arctic – Project 22220’s
Nordic American Tankers (NAT) has increased its shareholding in Nordic American Offshore (NAO) in an effort to shore up investor confidence in the latter. NAT bought 1,521,300 shares increasing its stake to 6,018,280 shares — 26.5% of NAO’s total shares for $9.5m, or $6
The United Seamen's Service (USS) honored Anthony Chiarello, President and CEO of TOTE Inc.; Matthew J. Cox, President and CEO of Matson; and James C. McKenna, President and CEO of Pacific Maritime Association with the 2015 Admiral of the Ocean Sea (AOTOS) Award.
At its meeting in New York on November 20, the American Club’s board resolved to levy a general premium increase of 2.5 percent for P&I cover, but no increase in the cost of FD and D for the 2016 policy year. The club’s board also reviewed release call requirements for open policy
Aker Philadelphia Shipyard ASA announced today that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has entered into definitive agreements with a subsidiary of Marathon Petroleum Corporation (MPC) for the buy-out of APSI's interest in its joint venture with
GC “Hidromek” (Russia) and Aker Arctic (Finland) have signed the strategic partnership agreement at NEVA 2015 GC “Hydromech” (Russia) Inc and Aker Arctic (Finland) signed an agreement on strategic partnership at the NEVA 2015 International
Aker ASA has on 30 September 2015 transferred its equity holdings in Converto Capital Fund AS to Aker Capital AS, a wholly-owned subsidiary of Aker. As per 30 September 2015, Converto Capital Fund AS directly held 7,237,631 of the issued shares and votes in Aker Philadelphia Shipyard ASA
Crowley Maritime Corp. took delivery of Ohio, the first of four new, Jones Act, product tankers this week from Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA. The delivery is momentous not only for Crowley
Swiss Re Corporate Solutions has expanded its marine business by opening a North America marine office. Beginning October 1, 2015, the New York-based team will provide ocean cargo insurance, with additional products to follow, the company said.
President Barack Obama on Wednesday offered condolences to the families of the 33 sailors presumed to have lost their lives aboard cargo ship El Faro which is believed to have sunk amid Hurricane Joaquin last week. The investigation into the incident will receive the
Thordon Bearings has signed a contract to supply COMPAC seawater-lubricated propeller shaft bearing solutions to two Jones Act containerships under construction at the Aker Philadelphia Shipyard Inc. (APSI) for Matson Navigation Company, Inc.
Aker Arctic announced it has inked a basic design agreement with PIRIOU shipyard for a Frances’s new polar logistics vessel under construction in Concarneau, France. The contract will also see Aker Arctic provide technical support in hull and ice-related matters to the shipyard
American Cruise Lines, operator of the newest cruise ships in the United States, announced today that it has begun construction on a new coastal cruise ship, yet to be named. The news of this addition is the most recent in a series of announcements pertaining to American
Crowley Maritime Corp. today christened the first of four new Jones Act product tankers at the Tampa Cruise Terminal. The 50,000 dead-weight-tons (dwt), 330,000-barrel-capacity ship Ohio is the first tanker ever to receive the American Bureau of Shipping’s (ABS) LNG-Ready Level 1 approval
On 4 November 2015, the Board of Directors of Aker Philadelphia Shipyard ASA resolved to pay a dividend to the shareholders of AKPS as of expiry of 10 November 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment