AKPS, Crowley JV Secures $ 325 mi Commitment

Maritime Activity Reports, Inc.

March 12, 2015

Courtesy Aker Shipyard

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.

According to AKPS this facility will be used for post-delivery financing of the four product tankers to be included in the AKPS-Crowley joint venture (Hulls 021-024). This commitment is subject to the execution and delivery of definitive documentation and satisfaction of customary conditions precedent.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News