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.