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Aker Philadelphia

Aker Philly Shipyard Build Methodologies Confirmed in Court Decision

In a decision filed by the U.S. District Court of the Eastern District of Pennsylvania has upheld the United States Coast Guard interpretation of the Jones Act as it relates to the modern building methods employed by Aker Philadelphia Shipyard. The decision rejected a lawsuit filed by the Metal Trades Department of the AFL-CIO.  Aker Philadelphia Shipyard President and CEO, Jim Miller remarked “We wish to reiterate that Aker Philadelphia Shipyard is extremely proud to be building ships in full compliance with the legal requirements for vessels to be operated in the Jones Act trade. We are satisfied with the court’s decision and by working closely with our skilled union work force will continue to deliver on our promise to build quality ships for the U.S. market."


U.S. Shipyard Delivers Tankship to Crowley

Aker Philadelphia Shipyard: Photo courtesy of APSI

Aker Philadelphia Shipyard delivers its first Veteran-class MT-46 product tanker to Crowley Maritime Corp. This is the thirteenth product tanker that the shipyard has completed and the seventeenth vessel overall. The product tankers are 600 feet long and have a cargo capacity of 46,000 dwt. The ship is named the Pennsylvania and is the first vessel that AKPS has delivered to Crowley. As stated in AKPS’s release on 21 August, 2012


Aker Philadelphia Begins Production on New Ship

Aker Philadelphia Shipyard has begun production on the second of ten vessels in the product tanker build program announced last spring, according to a WPVI-TV report. Steel cutting for the ship, the sixth built by the yard since its opening five years ago, begins just weeks after keel laying for the first tanker in the series. The second vessel is scheduled to be completed in 2007. The steel plates were cut on one of the yard's two plasma cutting machines


Aker Philadelphia Begins Tanker Construction

Aker Philadelphia Shipyard has commenced production on the third vessel in the ten-ship product tanker build program initiated in April 2005. Steel cutting for the ship, the seventh built by the yard since its opening nearly six years ago, was performed on one of the yard's two state-of-the-art plasma cutting machines. The third tanker vessel is scheduled to be completed in the fourth quarter of 2007. The first steel plates cut for the ship will be used in construction of the engine room of


Second Product Tanker Delivered by Aker Philadelphia

Aker Philadelphia Shipyard delivered the second vessel in an up to 16 ship order of product tankers as the 600-ft. long MT46 Veteran Class Overseas Long Beach was transferred to American Shipping Corporation, a subsidiary of Aker American Shipping. The vessel joins its sister vessel, the Overseas Houston, in American Shipping Corporation's fleet of modern, double hull product tankers for charter in the Jones Act market


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 232,466. Following the transaction, AKPS holds a total of 9,785 own shares, constituting approximately 0.08% of the Company's shares and votes.


BP to Charter Two OSG-Controlled Product Carriers

Overseas Shipholding Group, Inc. (NYSE:OSG) announced that charter agreements with BP have been signed for two of the Jones Act product carrier newbuildings that OSG will bareboat upon delivery from Aker Philadelphia Shipyard, formerly Kvaerner Philadelphia Shipyard. Morten Arntzen, President and CEO of OSG said, "The strong commercial interest in these U.S.-built product carriers further validates our U.S. Flag expansion strategy, uniquely positioning us in the Jones Act


Shipyard to Close Facilities in Philadelphia

Metro Machine Corp., a Norfolk, Va., company that came here a dozen years ago with dreams of building a radically new type of tanker ship, is shutting down its Philadelphia operations. The tankers it hoped to build offered innovations to protect the environment, but no one was willing to risk buying the first ship of an unproven design. To sustain its operation here while seeking ship orders, Metro did work including overhauls and scrapping ships


Overseas Shipholding To Charter Two Tankers To Petrobras America

Overseas Shipholding Group, Inc. (OSG) revealed that it has entered into a definitive agreement to charter two 46,000 dwt Jones Act tankers to Petrobras America, Inc. a unit of Petroleo Brasileiro S.A. (PBR, PBRA). The company said that it would provide shuttle tanker services from a Floating Production Storage and Offloading facility, or FPSO. Wherever pipeline infrastructure is too costly, FPSOs and shuttle tankers are a cost-effective means of transporting offshore oil.


SeaRiver Maritime: LOI to Build Two Tankers

Aker Philadelphia Shipyard ASA (Oslo: AKPS) announced that its sole operating subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has signed a Letter of Intent with SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate, for the construction of two aframax tankers. The 820 foot long, 115,000 deadweight ton tankers are intended to be used to transport Alaskan North Slope crude oil from Prince William Sound to the U.S. West Coast


Aker Philadelphia to Pay Dividend

Photo courtesy Aker  Philadelphia

The Board of Directors of Aker Philadelphia Shipyard ASA yesterday resolved to pay a dividend to the shareholders of AKPS as of expiry of 3 March 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 paid in


AKPS, Crowley JV Secures $ 325 mi Commitment

Courtesy Aker Shipyard

  The joint venture between Aker Philadelphia Shipyard ASA (AKPS) and Crowley has received a firm and fully underwritten commitment from a group of banks and other financial institutions for a USD 325 million senior secured term loan facility.


Aker Delivers Tanker to SeaRiver Maritime

Aker Philadelphia Shipyard Delivers Second Aframax Tanker, Eagle Bay

  Aker Philadelphia Shipyard, Inc. (APSI) has delivered its second Aframax tanker to SeaRiver Maritime, Inc., Exxon Mobil Corporation’s U.S. marine affiliate. The 820 foot long, 115,000 deadweight ton tanker was delivered within the timeframe most recently reported by AKPS and will


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.


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


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


The World's Most Expensive Jones Act Tanker

courtesy of VesselsValue.com

The series highlighting the world's most expensive active vessels from online ship intelligence and information service VesselsValue.com focuses this week on the most expensive tanker vessel, which is not a VLCC but a Jones Act aframax. The first-in-class double hull tanker Liberty Bay is an


Keel Laid for Crowley Jones Act Tanker

Photo: Crowley

First of four Crowley tankers celebrated in keel laying ceremony at Aker Shipyard The first of four Crowley Maritime Corp. product tankers was celebrated today in a keel laying ceremony held at Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S


Aker Evaluating Future of US Shipyard, ASC

Aker Philadelphia Shipard view: Image courtesy AKPS

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto investment vehicle said in a statement released late on Monday. Converto, the top owner of both Aker Philadelphia Shipyard and


Nerbovik Named CEO of Aker Philadelphia

Kristian Rokke

Aker Philadelphia Shipyard ASA announced that its board of directors has appointed Steinar Nerbovik as president and CEO of Aker Philadelphia Shipyard ASA effective today. Nerbovik has served as the company's managing director for the past seven months and was previously the company's senior vice


Aker: 4 Tankers Now Underway at Phila. Shipyard

Aker Philadelphia Shipyard

  Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), celebrated two significant ship milestones this week.  Today, the shipyard held a ceremonial Keel Laying for the second of four product tankers that it is building


SeaRiver Names New US-flag Tanker

Eagle Bay, the second of two new U.S.-flag crude oil tankers for Exxon Mobil Corporation’s marine affiliate SeaRiver Maritime, Inc., was named at a ceremony at Aker Philadelphia Shipyard.   The first-in-class vessel constructed at the shipyard incorporates the latest safety


NY Shipping Conference Speakers Announced

Annual joint Chambers of Commerce event look at The Life of a Ship    Conference organizers have announced the speaker lineup for the 21st annual Hellenic-American and Norwegian-American Chambers of Commerce conference, often called the New York Shipping Conference


Aker Philadelphia Shipyard's CBA Ratified

Aker Philadelphia Shipyard

  Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA, announced today that a new four year collective bargaining agreement has been ratified by the Philadelphia Metal Trades Council (PMTC)


Philly Tankers Lines Up Charters

Aker Philadelphia Shipyard

Philly Tankers AS announced today that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding long-term time charter contracts with a domestic end-user for the two 50,000 dwt product tankers it has on order with Aker Philadelphia Shipyard (AKPS)






 
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