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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.


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, 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


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


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.


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.


Installation of Dry Flexible Coupling on USS Essex (LHD 2)

USS Essex (LHD 2)

Posted by Joseph Fonseca Engineers at the Naval Ship Systems Engineering Station (NAVSSES), Naval Surface Warfare Center Carderock Division in Philadelphia recently oversaw the installation of dry flexible couplings on the lube oil service pumps and main feed pumps on USS Essex (LHD 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


Kvaerner & KBR Ally on Offshore Rig Topside Bids

Rig topsides: Photo Kvaerner

Kvaerner ASA says it is to establish a joint venture with KBR Inc. to bid competitively on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore


Kvaerner, KBR Partner for Johan Sverdrup Contracts

Kvaerner and KBR, Inc. will establish a joint venture to competitively bid on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway, the companies announced. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore


Latest DoD Contracts

USS Hue City: Photo USN

Contracts have been awarded by the U.S. Department of Defense to Great Lakes Dredge & Dock, NASSCO-Mayport, Timken Gears & Services Inc., and Colonna's Shipyard, Inc. Details as follows: 1. Great Lakes Dredge & Dock (GLDD- dredging contract


Aker Philadelphia Shipyard forms Philly Tankers

Kristian Rokke, Chairman of AKPS

Aker Philadelphia Shipyard and financial sponsors, including American Shipping Company and funds affiliated with Apollo Global Management, create pure play Jones Act shipping company, Philly Tankers. Aker Philadelphia Shipyard ASA (OSE: AKPS) is pleased to announce the planned establishment of


Kvaerner in Big Statoil Offshore Platform Deal

Platform topsides: Photo courtesy of Kvaerner

Kvaerner says it has established a frame agreement with Statoil for delivery of steel jacket substructures to Statoil-operated fields.  Based on this frame agreement, Statoil has signed a Letter of Intent (LoI) for Kvaerner to deliver two of the planned steel jackets to the Johan Svedrup


USCG Rescues 5 from Boat Following Engine Fire

USCG rescue five

  The Coast Guard rescued five people from a boat following an engine fire near the Indian River Inlet Bridge Sunday.   A person aboard the 36-foot Sport Fisher, Outcast, used a VHF-FM radio to call watchstanders at Coast Guard Sector Delaware Bay in Philadelphia at about 5:30 a.m


Norway's Kvaerner and China's COOEC form Joint Venture

China Offshore Oil Engineering Company (COOEC) and Norway's Kvaerner are setting up a joint venture in China to conduct oil engineering projects worldwide in the second international cooperation deal for the Chinese firm in six months. In December last year COOEC set up a joint venture with


Philly Tankers Step Closer to Its First Vessels

Philly Tankers Step Closer to Its First Vessels

  Following the announcement of 10 June 2014 by Aker Philadelphia Shipyard ASA  (AKPS) Philly Tankers had successfully secured equity commitments necessary to finance the purchase of two product tankers from AKPS with deliveries in 2016 and 2017.


Kværner Yard to Upgrade H-6e Offshore Drill Rig

Offshore drilling rig: Photo courtesy of Kvaerner

Norway's Kværner ASA informs that the  H-6e drilling rig 'Transocean Barents' will arrive Kvaerner's facilities at Stord this week for a two month yard stay. The main purpose of the stay is the five year classification of the rig, as well as upgrade and modification work.


Aker Philadelphia Shipyard : Buyback Program of Own Shares

 Aker Philadelphia Shipyard

The Board of Directors of Aker Philadelphia Shipyard ASA has resolved to initiate a buyback program for up to 10% of the Company's share capital. The decision reflects the Company's focus on maximizing shareholder returns over time, its strong financial position


Aker Philadelphia Shipyard to Pay Dividend

Aker Philadelphia Shipyard

  ]On July 16, 2014, the Board of Directors of Aker Philadelphia Shipyard ASA (Oslo: AKPS) resolved to pay a dividend to the shareholders of AKPS as of expiry of July 22, 2014, of NOK 1.5 per share, in aggregate NOK 18,862,149. The resolution was made pursuant to an authorization granted


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 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






 
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