Philly Shipyard Delivers First Next Generation Product Tanker to Kinder Morgan
November 30 2016 - 1:46PM
Philly Shipyard, Inc. (PSI), the
sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY),
today delivered the American Endurance, the
first of four next generation 50,000 dwt product tankers that it is
building for American Petroleum Tankers (APT), a subsidiary of
Kinder Morgan, Inc.
This delivery is the 25th vessel built
by PSI (formerly known as Aker Philadelphia Shipyard, Inc.). The
next generation 50,000 dwt product tanker is based on a proven
Hyundai Mipo Dockyards (HMD) design that also incorporates numerous
fuel efficiency features, flexible cargo capability, and the latest
regulatory requirements. The vessel has also received LNG Ready
Level 1 approval from the American Bureau of Shipping (ABS). The
600-foot tanker has a carrying capacity of 14.5 million gallons of
crude oil or refined products.
"Today's delivery of our
25th vessel,
aptly named the American Endurance, is a
profound symbol of the shipbuilding legacy we have continued since
re-opening in 1997. In collaboration with American Petroleum
Tankers, we are proud of our contributions to renew the current
tanker fleet with a more modern and environmentally friendly
design. This vessel, like all others, was built from the
hands and hearts of 1,200 shipbuilders for future crew to operate
safely and with the quality expected."
The shipyard has commenced
construction of three other 50,000 dwt tankers for APT and two
3,600 TEU containerships for Matson Navigation Company, Inc.
For more information on Philly Shipyard transactions and projects,
please visit www.phillyshipyard.com.
About Philly Shipyard:
Philly 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. Philly Shipyard is listed on the Oslo Stock Exchange
and is majority-owned by Aker Capital II, 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.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Philly Shipyard ASA via Globenewswire
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