NASSCO Begins Construction of New Line of Commercial Ships
General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics began construction of its first product carrier ship for U.S. Shipping Partners. NASSCO is building the ship from designs provided through its collaboration with DSEC of Korea, a subsidiary of Daewoo Shipbuilding and Marine Engineering. The San Diego shipyard is scheduled to lay the ship's keel in December and deliver the ship in early 2009. In August 2006, NASSCO received a $1b contract from U.S. Shipping Partners to build nine ships. The double-hulled ships will be 600.4 ft. in length, displace 49,000 dwt and will have a cargo capacity of about 331,000 barrels. They are designed to carry petroleum and chemical products in Jones Act trade.
NASSCO Begins Construction of New Commercial Ships
General Dynamics NASSCO began construction of its first product carrier ship for U.S. Shipping Partners (NYSE: USS). NASSCO is building the ship from designs provided through its collaboration with DSEC of Korea, a subsidiary of Daewoo Shipbuilding and Marine Engineering. The San Diego shipyard is scheduled to lay the ship’s keel in December and deliver the ship in early 2009. “Start of construction of a lead ship is the most significant activity for a shipyard,” said Frederick J. Harris, president of General Dynamics NASSCO. “As the leading builder of ocean-going Jones Act ships in the nation today, we are ready to build this ship. In August 2006, NASSCO received a $1 billion contract from U.S. Shipping Partners to build nine ships.
