American Petroleum Tankers (APT) affiliate intends to order the new ships from NASSCO Shipyared, San Diego. An affiliate of American Petroleum Tankers Parent LLC (“APT”), a company majority owned by funds managed by Blackstone on behalf of its investors, announce its commitment to build two new state-of-the-art tanker vessels at the National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego. The commitment to build is contingent upon approval of a $340 million Title XI loan guarantee from the U.S. Department of Transportation's Maritime Administration (“MarAd”) that would be used to refinance APT’s existing five tankers. Should construction of the vessels proceed, they will be the first new product tankers to be ordered in the U.S. in two years.
