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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.


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 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


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


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


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.


Kvaerner Taking Advice on Strategic Growth Alternatives

Kvaerner rig topside: File photo

Kvaerner says it is exploring new strategic opportunities to further strengthen its business and has retained Greenhill & Co. International LLP to advise on evaluating all strategic alternatives.  Kvaerner has during the first half of 2014 delivered several key oil and gas projects on schedule, won new key contracts and continued to implement cost reduction measures. The company's Board of Directors says it is pleased with how Kvaerner has built a strong position as a competitive


Bulk Carrier Runs Aground in Delaware River (Link to Video)

  Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.   The Liberian-flagged 600-foot bulk carrier, Agia Irini


Massive cargo ship runs aground in US

Photo courtesy of Burlington City Police Department

 A 33,044-ton cargo ship ran aground Wednesday in the Delaware River near the Burlington-Bristol Bridge, between Pennsylvania and New Jersey.   According to the U.S. Coast Guard, a 600-foot bulk carrier, Agia Irini, was headed southbound when it reportedly lost propulsion and ran


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


Comark to Exhibit at Intelligent Ships Symposium

Comark, a designer and manufacturer of high performance computer and display solutions, will exhibit at the 2015 Intelligent Ships Symposium May 20-22, at the University of Pennsylvania Annenberg Center in Philadelphia.   The Intelligent Ships Symposium is a biennial event which provides a


Kvaerner, Longview Power Reaches Settlement

  Kvaerner North American Construction Inc. (a subsidiary of Kvaerner) has executed agreements today, with each of Longview Power, LLC, Siemens Energy Inc. and others regarding the disputes between them in both the arbitration proceedings concerning the Longview Project and the subsequent


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


Seafarers International House Awards Banquet

Seafarers International House will hold its 15th Annual Setting the Course Awards Banquet on Thursday, April 23, 2015 at the New York Athletic Club, 180 Central Park South, New York City.   This year’s honorees are Anthony Chiarello, President & CEO, Tote, Inc


Santa Lucia Back Underway in Delaware Bay

The grounded motor vessel near Miah Maull Shoal in Delaware Bay

  The motor vessel Santa Lucia, which was aground in Delaware Bay, got back underway under its own power at approximately 3 p.m. Tuesday. The Santa Lucia is scheduled to anchor at Big Stone Anchorage for a Coast Guard safety inspection before moving on to its destination of Philadelphia


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)


Tankers Idle at Big Stone, Puzzling Some

Late last November, the tanker Olympic Flag carrying 650,000 barrels of Angolan crude dropped anchor about 7 miles off the coast in Delaware Bay, a seemingly routine shipment destined for a nearby Philadelphia refinery. What happened next was anything but routine


Oil Tankers Idle for Months off US, Puzzling Some

Late last November, the tanker Olympic Flag carrying 650,000 barrels of Angolan crude dropped anchor about 7 miles off the coast in Delaware Bay, a seemingly routine shipment destined for a nearby Philadelphia refinery.   What happened next was anything but routine


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)


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 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.






 
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