Aker Philadelphia Shipyard Starts Construction on Third and Fourth Product Tankers for Kinder Morgan
Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary
of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production
activities today on the third and fourth 50,000 dwt product tankers in a
four vessel order for American Petroleum Tankers, a Kinder Morgan Inc.
subsidiary (APT). The two product tankers are scheduled for delivery in
2017 and are the culmination of a series of eight product tankers being
built at the shipyard for APSI’s customers.
Construction on the third and fourth 50, 000 dwt product tankers for APT
officially began in the shipyard’s fabrication shop when guest of honor
Pennsylvania Lieutenant Governor Mike Stack pushed the button on the
shipyard’s state of the art plasma cutting machine. The first steel
plates that were cut will later become part of the engine room.
At the ceremony, President and CEO of APSI, Steinar Nerbovik, remarked:
“With construction underway on these two product tankers, we celebrate
the capstone of an exciting eight tanker series that is part of
Philadelphia’s contribution to the energy landscape of this country. The
1,100 men and women working at the shipyard will be busy for years to
come completing these tankers and the other vessels we have under
contract.”
“We are very pleased to be working with the Aker Philadelphia Shipyard
on the construction of four, LNG-conversion-ready tankers, and the start
of construction of these two vessels marks a milestone for our expanding
fleet,” said Robert Kurz, Vice President of Kinder Morgan Terminals and
President of APT. “There continues to be a strong demand for domestic
marine transportation of petroleum products and crude oil, and these
tankers will provide Kinder Morgan with additional new tonnage to better
service our customers.”
The next generation 50,000 dwt product tanker is based on a proven
Hyundai Mipo Dockyards (HMD) design that incorporates numerous fuel
efficiency features, flexible cargo capability, and the latest
regulatory requirements. The tankers will also be constructed with
consideration for the use of liquefied natural gas (LNG) for propulsion
in the future. When completed, each of the 600-foot tankers will have a
carrying capacity of 14.5 million gallons to transport crude oil or
refined products.
The four 50,000 dwt product tankers for APT are currently under contract
with Philly Tankers LLC. In line with the announcement made by AKPS on
August 10, 2015, each of these contracts will be assigned by Philly
Tankers LLC to APT at vessel delivery.
Also under construction at the shipyard are three 50,000 dwt product
tankers for Crowley with planned deliveries through 2016, the first two
50,000 dwt tankers for APT with planned deliveries in 2016 and 2017, and
two containerships for Matson Navigation Company, Inc. with planned
deliveries in 2018. On July 16, 2015, the company announced that it
intends to change its name to Philly Shipyard by the end of the year,
pending shareholder approval. For more information on the shipyard,
please visit www.akerphiladelphia.com.
About Aker Philadelphia Shipyard:
Aker Philadelphia Shipyard is a leading U.S. commercial shipyard
constructing vessels for operation in the Jones Act market. It possesses
a state-of-the-art shipbuilding facility and has earned a reputation as
the preferred provider of oceangoing merchant vessels with a track
record of delivering quality ships. Aker Philadelphia Shipyard is listed
on the Oslo Stock Exchange and is majority-owned by Converto Capital
Fund, which in turn is majority-owned by Aker ASA. Aker is a Norwegian
industrial investment company that creates value through active
ownership. Aker's investment portfolio is concentrated on key Norwegian
industries that are international in scope: oil and gas, fisheries and
biotechnology, and marine assets. Aker's industrial holdings comprise
ownership interests in Aker Solutions, Kvaerner, Det norske oljeselskap,
Aker BioMarine, Ocean Yield, Havfisk and Akastor.
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