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Aker Philadelphia Delivers Third Product Tanker

Maritime Activity Reports, Inc.

November 26, 2007

The third product tanker built by Aker Philadelphia Shipyard was delivered today, marking the first time in the yard’s history that three vessels were delivered in the same year. Following very successful sea trials and final testing and commissioning, the ship joins two sister vessels in American Shipping Corporation‘s growing fleet of double-hull product tankers operating for charter in the US Jones Act Market. As were its two predecessors, the 600-foot long MT46 Veteran Class tanker is chartered to a subsidiary of Overseas Shipholding Group, Inc. (OSG).

A Naming Ceremony was held at the yard. Mrs. Sandra Ridgway conferred the name Overseas Los Angeles upon the ship while blessing the vessel and those which will sail upon her. In the coming days, the vessel will depart the yard to begin transporting petroleum products for BP Shipping under the direction of OSG. This is the second Aker Philadelphia Shipyard-built tanker delivered into service for BP Shipping. Three additional tankers are currently under construction at the yard, with the next vessel scheduled for delivery in the second quarter of 2008. In all, nine further tankers are slated to be delivered by the yard through 2011

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