Aker American
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
AMO Support Senator's Quest for Cruise Ship Information
The American Maritime Officers Association (AMO) supports Senator Rockefeller's approach to the Cruise Lines International Association. The American Maritime Officers Association, the nation's largest professional merchant marine organization, says the widely publicised letter by U.S
Aker Arctic Brings Oblique Ice Breaker to Market
With construction underway on the first ever Oblique Icebreaker, research specialist Aker Arctic Technology has unveiled a new version of the vessel type that will bring ice management and pollution control in thick first year ice to a new level.
Aker Wins Big EPCI Contract Offshore Canada
Aker Solutions awarded contract for offshore engineering services to support Husky Energy at White Rose field. The scope of work includes studies, modifications (EPCI) and campaign maintenance services. The duration is five years with an option to extend the contract for as many as 10 one-year
Aker Solutions Appoints New VP
The U.K. operation of international oil services group Aker Solutions has announced the appointment of a new vice president to lead greenfield projects as the company looks to expand its capabilities in the sector. Bob Shaw’s appointment is the latest in a series of new senior management
Jones Act Seems Beneficial to Puerto Ricans Finds GAO
American Maritime Partnership (AMP) member, Crowley Maritime Corp. distributes the following announcement: The long-awaited General Accountability Office (GAO) study on the Jones Act in Puerto Rico shows that the U.S. domestic container shipping fleet has provided regular
Aker Solutions Awarded Moho Contract
Aker Solutions received a Letter of Award from Total for the delivery of a subsea production system for the Moho Nord project in the Republic of the Congo. The contract value is approximately $850 million (U.S.). The Moho Nord project
Great Lakes Shipyard Completes American Courage Winter Work
The American Courage of American Steamship Company departed Cleveland Saturday, March 23 after two months of lay-up at Great Lakes Shipyard. The Shipyard was contracted by American Steamship to perform winter work services on their vessel
Aker Solutions Awarded Frame Agreement
Aker Solutions has entered a frame agreement with Petrobras to provide subsea equipment for the oil company's deepwater pre-salt field developments in Brazil. The contract value is approximately $800 million (USD). The scope of work is for 60 well-sets with vertical subsea
New Arctic Oil Spill Recovery Icebreaker
Aker Arctic Technology to introduce the ‘Heavy Duty’ oblique icebreaker project for Arctic operations (Aker ARC 100 HD) at upcoming expo. With the awarding of drilling permits in the Arctic subject to increasing scrutiny, Aker Arctic Technology will be explaining the new concept
Aker Arctic to Design Icebreaker for Finnish Government
The Finnish Transport Agency signed a contract with Aker Arctic Technology Oy for design of a new icebreaker for the government. Aker Arctic in cooperation with ILS Oy will design the vessel and prepare the technical documents needed to hold tender for its construction in compliance with the
MAN & Statoil Sign Turbo-machinery Agreements
MAN Diesel & Turbo, Switzerland, signs to provide Norway's Statoil with new subsea compressor equipment & maintenance services. The Zurich-based MAN Diesel & Turbo Schweiz AG and Statoil have followed a joint subsea compressor qualification programme since 2005
Aker Solutions Slow Out of the Blocks
"The slow start to 2013 is truly disappointing," says Øyvind Eriksen, Executive Chairman of Aker Solutions ASA. Aker Solutions decided to disclose preliminary information on its financial performance in the first three months of 2013 as the results so far considerably lag current
Aker Enters TRS Agreement
Aker ASA entered a TRS (Total Return Swap) agreement with exposure to 1,500,000 shares in Aker Solutions ASA. The expiration date of the TRS agreement is November 1, 2013 and the settlement price in the agreement is NOK 83.717325 share.
This Day in U.S. Naval History: May 1
This Day in Naval History - May 1 1898 - Battle of Manila Bay, Adm Dewey defeats Spanish at Manila, Philippines Before dawn on May 1, 1898, Commodore George Dewey's flagship Olympia led seven U.S. Navy cruisers and gunboats into Manila Bay
Aker's MPO Unit Wins Industry Award at OTC
Aker Solutions' subsidiary, Managed Pressure Operations, won a prize for its riser safety system at the Offshore Technology Conference in Houston. The Aker Solutions unit won the Woelfel Best Mechanical Engineering Achievement Award for its Riser Safety System (RSS).