Kristian Rokke News

U.S.-based ocean carrier Matson announced it has placed a $1 billion order with Philly Shipyard for the construction of three new 3,600 TEU Aloha Class containerships.The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.Matson, which aims to achieve a 40% reduction in Scope 1 fleet emissions by 2030 and net-zero Scope 1 by 2050, said the three newbuilds will be equipped with dual fuel engines that are designed to operate on either conventional marine fuels or liquefied natural gas (LNG).

Jim Miller, chairman of the Board of Directors of Philly Shipyard, has requested to step down from the board, to join the management team of Philly Shipyard, Inc. as Senior Advisor to the CEO.The Nomination Committee has nominated Kristian Rokke to return as Chairman of the Board.The remainder of the Board is proposed to remain unchanged, the shipbuilder said.Philly Shipyard was recently selected to build up to five new training ships for the U.S. maritime academies.

Philly Shipyard ASA (Oslo: PHLY) announced that Jim Miller has been nominated to be Chairman of the Board of Directors of Philly Shipyard. Mr. Miller previously held this role from 2011 until 2014. This nomination is expected to be approved at an extraordinary general meeting on February 1, 2016.   Kristian Rokke, CEO of the Norwegian investment company Akastor, is stepping aside as Chairman of the Philly Shipyard Board. He remarked "I am very pleased that Jim has agreed to return as Chairman given his extensive leadership background and familiarity with Philly Shipyard."   The remainder of the Company's Board of Directors will remain unchanged and consists of Amy Humphreys, Elin Karfjell, and Audun Stensvold.

Aker Philadelphia Shipyard ASA announced today that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has entered into definitive agreements with a subsidiary of Marathon Petroleum Corporation (MPC) for the buy-out of APSI's interest in its joint venture with Crowley Maritime Corporation (Crowley) related to the operation and chartering of four 50,000 dwt product tankers. The transaction is based on an enterprise value of $150 million per vessel. The buy-out of APSI's interest in the APSI-Crowley joint venture with respect to each vessel will occur at its delivery from APSI. The deliveries of all four vessels are expected to occur from Q3 2015 to Q3 2016. APSI expects to recognize a pre-tax gain of approximately $10 million per vessel from the transaction.

Aker Philadelphia Shipyard ASA announces its plan to change its name to Philly Shipyard ASA, pending an upcoming shareholder vote at an extraordinary general meeting expected to take place in October 2015. Aker Philadelphia Shipyard, Inc. (APSI) will likewise change its name to Philly Shipyard, Inc. "Changing our name to Philly Shipyard more accurately reflects the shipyard we have become in recent years," remarked Steinar Nerbovik, Aker Philadelphia Shipyard's President and CEO. "We have delivered on our promises and stand firmly on our own two feet as a company. The new name also represents the proud tradition of shipbuilding in Philly and the City with which we are so intimately linked," Steinar said.

Philly Tankers AS announced today that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding long-term time charter contracts with a domestic end-user for the two 50,000 dwt product tankers it has on order with Aker Philadelphia Shipyard (AKPS). The charters will commence after delivery of the vessels in 2016 and 2017. "This is an important milestone for Philly Tankers and we are proud of the long-term partnership that the company has established with a reputable end-user," said Kristian Rokke, Chairman of AKPS and Board member of Philly Tankers AS. Philly Tankers holds an option for two additional product tankers with deliveries in 2017, which the Company expects to declare, subject to raising the necessary equity capital.

Aker Philadelphia Shipyard ASA announced that its board of directors has appointed Steinar Nerbovik as president and CEO of Aker Philadelphia Shipyard ASA effective today. Nerbovik has served as the company's managing director for the past seven months and was previously the company's senior vice president of operations. Kristian Rokke will continue as chairman of the board of AKPS, but in a nonexecutive capacity. "Today's announcement is mostly a formality given Steinar's prominent role at the company since 2013 and follows the plan set earlier this year, but nonetheless, it is an important milestone for AKPS," Rokke said. "The shipyard is in a robust position right now with an order book through 2018," remarked Nerbovik.

Aker Philadelphia Shipyard and financial sponsors, including American Shipping Company and funds affiliated with Apollo Global Management, create pure play Jones Act shipping company, Philly Tankers. Aker Philadelphia Shipyard ASA (OSE: AKPS) is pleased to announce the planned establishment of Philly Tankers AS, a Norwegian limited liability company, and its wholly-owned subsidiary, Philly Tankers LLC, a Delaware limited liability company (together “Philly Tankers”). Philly Tankers…

Aker Philadelphia Shipyard (AKPS) has reported its highest ever quarterly result, with an EBITDA of USD 24.2 million and net income of USD 17.8 million, an increase relative to Q1 2013 of 27% and 48%, respectively. The increase was driven by the gain recorded from the sale of AKPS’s profit sharing interests in Hulls 017 and 018 to Crowley in Q1 2014. “We are pleased to report both record earnings and a record dividend,” said Kristian Rokke, Chairman of AKPS. “Both highlight the value AKPS has generated by creating and investing in Jones Act shipping assets in addition to traditional shipbuilding activity. On 30, April 2014, the Board of Directors authorized a dividend of NOK 17.5 (approx.

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production activities today on the first product tanker that it is building for its joint venture with Crowley. Crowley and APSI have signed contracts for the first four tankers, with a total contract value of approximately $500 million. A small ceremony with representatives from Crowley and APSI was held in the shipyard’s Fabrication Shop to commence cutting on the ship’s first steel plate. That plate will become part of the double hull of the tanker that protects the cargo tanks. When completed in 2015, the vessel will be 600 feet long and be capable of carrying 50,000 tons of crude oil or refined petroleum products.

Matson Signs Contract With Aker Philadelphia Shipyard For Two New "Aloha Class" Containerships, First Ship To Be Named The Daniel K. Inouye. Matson, Inc., a U.S. carrier in the Pacific, announced today that its subsidiary, Matson Navigation Company, Inc., has signed a contract with Aker Philadelphia Shipyard Inc. (APSI) to build two new 3,600 TEU containerships for an aggregate price of $418 million. The new vessels will be equipped with dual fuel engines that have liquefied natural gas (LNG) capability and are expected to be delivered in the third and fourth quarters of 2018.

Crowley Maritime Corporation christen its newest US-flag tanker, 'Florida', at Aker Philadelphia Shipyard. More than 100 guests, including Chairman, President and CEO Tom Crowley; friends and employees from Crowley; representatives from the customer, shipyard, and labor along with other industry dignitaries, gathered to celebrate the vessel’s christening, which was performed by Nina Glende Johnsen, the wife of Aker President and CEO Kristian Rokke. The Florida, which will provide 50 American seagoing and shore-side jobs…

Aker Philadelphia Shipyard holds ceremonial keel-laying for first Aframax Tanker for SeaRiver Maritime, Inc. The ceremonial keel-laying was for the first of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. The construction of the two tankers, valued at $400 million, will create more than 1,000 jobs. When completed in 2014, the Liberty Class vessels will be 820 feet long and be capable of carrying 115,000 tons of crude oil.

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (AKPS), began production activities today on the first of two Aframax tankers it will build for SeaRiver Maritime Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. When completed in 2014, the vessels will be 820 feet long and be capable of carrying 115,000 tons of crude oil. Since the shipbuilding contract was signed in September, 2011, engineering, planning, and procurement work have been underway. After a small ceremony in the shipyard’s Fabrication Shop, the cutting of the steel plates began. These plates will become part of the double hull of the tanker, which protects the cargo tanks.