AAS to Split?

Aker's Aker American Shipping (AAS) reportedly has decided to split its business into a shipyard and a separate ship-owning company, according to a report on Forbes.com, a move reportedly designed to advance its business prospects in the U.S. Under the plans, American Shipping Corporation will be a vessel-owning subsidiary of AAS, while the shipyard activities will be organized into the newly-established company Aker Philadelphia Shipyard (APS), Forbes.com reported. Aker American Shipping currently has a fleet of ten product tankers and two shuttle tankers, under construction or chartered to customers. In 2007, three product tankers have been delivered and chartered, while the nine remaining vessels will be delivered in the period 2008-11.