Kvaerner Philadelphia
First Ship Nearing Completion at Kvaerner Philadelphia
The MV Manukai, Kvaerner Philadelphia Shipyard's first ship, was floated out of the building dock this weekend. The 712-ft. container ship being built for Matson Navigation was towed to the outfitting dock for its final outfitting phase. The $110 million ship which is constructed entirely of American-made materials, including Bethlehem steel, will be deployed to its home base in Honolulu upon completion, and will sail between Hawaii, Seattle and Oakland. Construction is under way at the yard on its sister ship.
Kvaerner Philadelphia Shipyard Signs $240 Million Letter of Intent for Four Ships
Kvaerner, the Anglo-Norwegian engineering and construction Group, today announced that it has received a Letter of Intent from Keystone Shipping Company of Pennsylvania, for the construction of four handy- sized (40,000 dwt) clean product carrier vessels. The total value of the award amounts to approximately $240 million. The vessels are to be built at the new state-of-the-art shipyard in Philadelphia, formally opened today by Tom Ridge, the Governor of the Commonwealth Pennsylvania
Matson’s Manukai Heads Toward Panama Canal
Kvaerner Philadelphia Shipyard, Inc. (KPSI), of Philadelphia, PA., today delivered the M.V Manukai, a CV 2600 Philadelphia Class Containership. This is the first ship to be constructed at the new yard located in the former Philadelphia Naval Base. The M.V. Manukai is the first ship in a series of two containerships to be built for Matson Navigation Company, a shipping company based in San Francisco, CA. The U.S. Jones Act ship was christened by Margaret Inouye, wife of Hawaii Sen
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
The Best of Both Worlds
Oslo-based Aker Kvaerner Yards is irony in action. It serves an ancient industry dominated by older generation, yet is led by a fresh faced young executive. It prospers in a capital and equipment intensive market, yet is helping to re-define some of these relationships via the Internet. The organization is the largest shipbuilding consortium in Europe, yet good prospects for growth lie in smaller, compact yards.
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
New Board at Kvaerner Masa-Yards
A new Board of Directors has been elected for Kvaerner Masa-Yards Inc.. Chairman: Leif-Arne Langøy (President and CEO, Aker Kvaerner Yards AS) Members: Jorma Eloranta (President and CEO, Kvaerner Masa-Yards Inc.), Karl Erik Kjelstad (Executive Vice President, Aker Kvaerner Yards AS), Oddvar Slettevold (Executive Vice President, Aker Kvaerner Yards AS) and Trond Ø. Westlie (Chief Financial Officer, Kvaerner ASA). Aarne Ukkola and Jorma Malinen continue as representatives of the personnel.
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 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 $120 million. Aker Kvaerner's scope of work includes engineering, procurement, construction and transportation. The award is a recognition of the deepwater competence in Aker Kvaerner. The Blind Faith platform to be located in the Mississippi Canyon 650 block
Kvaerner Sells Russian Shipyard Stake
Kvaerner has agreed to sell its 75.6 percent stake in Russian shipyard Kvaerner Vyborg Shipyard JSC, to Russia's Zao Ako Barss for an undisclosed price. Kvaerner officials said that the sale, part of a delayed plan for Kvaerner to exit shipbuilding, would mean a small accounting within the scope of provisions made in the 1999 accounts.
Sea Star Line Appoint Tim Nolan Executive VP
Tim Nolan, as Executive Vice President, will report to Peter Keller, President and be domiciled at Sea Star headquarters in Jacksonville, Florida. Tim has a broad background in liner shipping to include management accountabilities in Chile, as well as, the Latin America and Caribbean trades
Kvaerner Order Backlog Triples
At the end of Q1 2013 the Norwegian company's backlog totalled a record-high NOK 31.6 billion, including incorporated joint ventures. Kvaerner, a specialised provider of engineering, procurement and construction (EPC) services for offshore platforms and onshore plants
Horizon Lines in Red, But EBITDA Rises in Q1 2013
First quarter 2013 net loss amounted to US$ 20.1 million, while rate, net of fuel, increased 1.9% & adjusted EBITDA was up 25.7% from a year ago. Sam Woodward, Horizon Lines' President and Chief Executive Officer said: "The positive factors resulting in adjusted EBITDA growth were
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.
Governor Welcomes Horizon Lines to Philadelphia
Horizon Lines relocated its Northeast port of call from Elizabeth, New Jersey to Philadelphia, to mark another milestone for the Port of Philadelphia. Led by Governor Tom Corbett and political and business leaders from across the region
'SS United States' Preservation Cash-strapped
The 'SS United States' is sending out what may be its final distress call. The conservancy working to secure a home and purpose for the 990-foot-long ship tells the Associated Press that it could be sold for scrap within two months unless they can raise $500
Kvaerner Wins EPC Contract for Hebron GBS Project
ExxonMobil Canada Properties has released the option for Kvaerner's joint venture company Kiewit-Kvaerner Contractors to provide the full scope of engineering, procurement and construction (EPC) services for the Hebron Project gravity based structure (GBS)
Kværner Wins GBS Offshore Newfoundland Contract
Kvaerner Contractors to provide engineering, procurement & construction (EPC) services for the Hebron Project gravity based structure (GBS). ExxonMobil Canada Properties has released the option for Kvaerner's joint venture company Kiewit-Kvaerner Contractors to provide the full scope of
Horizon Lines Prefer Philadelphia Terminal to Elizabeth NJ
Horizon Lines, Inc announce it will move its northeast terminal operations to Philadelphia, Pennsylvania, from Elizabeth, New Jersey, effective April 11, 2013. After an extensive review of options and a detailed evaluation of other ports connecting the northeast to Puerto Rico
Kværner ASA : Q4 & Preliminary 2012 Results
Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.
Kværner Profits Slip, Bulging Order Book
Kværner ASA issue fourth quarter and preliminary annual financial results 2012. Kvaerner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million
Oil Platform Hook-up, Commissioning Contract for Kvaerner
ConocoPhillips confirms options in the Eldfisk 2/7 S topside contract for Kvaerner to perform offshore hook-up & commissioning assistance. In March 2011, Kvaerner was awarded a contract by ConocoPhillips to perform engineering, procurement and construction (EPC) of the topside for the
Aker Philadelphia Shipyard Starts on Second Aframax Tankship
Construction starts on the second of two Aframax tankers for SeaRiver Maritime, Inc., Exxon Mobil Corporation’s U.S. marine affiliate. The construction of the two tankers, valued at $400 million, will create more than 1,000 jobs.
US Shipyard Lays First Aframax Tankship Keel
Aker Philadelphia Shipyard holds ceremonial keel-laying for first Aframax Tanker for SeaRiver Maritime, Inc. The ceremonial keel-laying was for the first of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate.
Aker Solutions Sells Remaining Ownership in Lewek Connector
AMC Connector AS, a joint venture between Aker Solutions and Emas Offshore Limited, has agreed to sell subsea construction and cable-lay vessel Lewek Connector (previously called AMC Connector) to Ocean Yield AS. In October 2010, Aker Solutions announced that it would sell its offshore