Construction Milestone Achieved on Fourth Tanker in Aker Philadelphia Shipyard Series

Dec 2, 2000
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From TickerTech.com:
quote:

Traditional Coin Ceremony Part of Keel Laying in Yard's Dry Dock
PHILADELPHIA, April 25 /PRNewswire-USNewswire/ -- Work on the fourth tanker in Aker Philadelphia Shipyard's current build program reached a significant milestone yesterday with keel laying in the yard's Building Dock. The first section of the double-hulled product tanker scheduled for completion in 2008 was set in the dock adjacent to the third tanker in the series, also currently under construction.

As part of the ceremony, coins were placed under the keel block recreating a long-standing tradition whereby shipbuilders hide special coins in the keel section of a ship as a permanent symbol of good fortune and safe travels.
Story at http://www.tickertech.com/cgi/?a=news&ticker=a&w=&story=200704200704250821PR_NEWS_USPR_____DCW018

Comment: For anyone who's curious, this shipyard used to be the Philidelphia Naval Shipyard.
 
Dec 2, 2000
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From The Philidelphia Inquirer:

Shipyard's full speed ahead
quote:

From his high perch on the Goliath crane, Roberto Bernal surveyed the bustling shipyard below and said: "When I came to work here in 2000, all of that was empty."
This week, 200 feet above the clang of hammers and hiss of welders at the Aker Philadelphia Shipyard, Bernal watched work on four big tanker ships. And the yard's order book has enough work to keep it going full speed ahead for five years.

"It took us three years to build our first ship," said Scott B. Clapham, the yard's vice president for engineering and development. "Now, we're building three a year."
Story at http://www.philly.com/inquirer/business/20070630_Shipyards_full_speed_ahead.html
 
Dec 2, 2000
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Easley South Carolina
Dec 2, 2000
58,587
376
283
Easley South Carolina
From Citybizlist Philly:

Fourth Aker Philadelphia Shipyard Tanker Launched
quote:

Vessel is to be first tanker sold under new terms following organizational split from ship-owning company

PHILADELPHIA--(BUSINESS WIRE)--Hull 008, the fourth double-hulled tanker in Aker Philadelphia Shipyard’s current build program, was floated off its blocks in the yard’s 1,300 foot long Building Dock and transferred to the adjacent Outfitting Dock on the morning of Saturday, January 26. Testing and commissioning of the vessel’s systems will take place during the coming months, with the ship scheduled for delivery in the second quarter of this year.
Full story at http://philly.citybizlist.com/lstg/lstgDetail.aspx?id=29937
 
Dec 2, 2000
58,587
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283
Easley South Carolina
Dec 2, 2000
58,587
376
283
Easley South Carolina
From BYM:

Norway. Aker Philadelphia Shipyard delivers fourth Veteran Class MT46 tanker
quote:

Aker Philadelphia Shipyard (Oslo:AKPS) delivered its fourth Veteran Class MT46 tanker vessel to Aker American Shipping (Oslo:AKASA). It is the first vessel sold for profit to Aker American Shipping following the corporate reorganization that split the ship-owning and shipbuilding operations last December.

The 600 foot long tanker is the first to be delivered in 2008, and the fourth in a series of twelve scheduled for completion by early 2011.
More at http://www.bymnews.com/news/newsDetails.php?id=25015
 
Dec 2, 2000
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From CityBizList Philidelphia:

Aker Philadelphia Shipyard Secures $560M Funding from Caterpillar Finance
quote:

PHILADELPHIA--(BUSINESS WIRE)--Aker Philadelphia Shipyard (Oslo:AKPS) entered into a loan agreement with Caterpillar Financial Services Corporation (Cat Finance) to increase its line of credit to $150 million. Under the agreement, Cat Finance will fund up to $80 million per ship for the construction cost of seven consecutive product tankers, valuing the agreement at $560 million.
For the rest of the press release, go to http://philly.citybizlist.com/lstg/lstgDetail.aspx?id=34310
 
Dec 2, 2000
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From The Philidelphia Daily News:

Aker Starts Building It's 12th Ship Today
quote:

Aker Philadelphia Shipyard Inc. began work this morning on the 12th vessel being built at the South Philadelphia yard since it began production in 2000 on the site of the old Philadelphia Naval Shipyard.
This ship will be the eighth in a series of 12 tankers built under a $1 billion agreement signed in 2005.
For the rest, see http://www.philly.com/philly/business/homepage/20080527_Aker_starts_building_its_12th_ship_today.html
 
Dec 2, 2000
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From Yahoo:

Fifth Product Tanker Launched at Aker Philadelphia Shipyard
quote:

Tanker Will Be the First in the U.S. with Advanced EPA Tier II Compliant Engines

PHILADELPHIA--(BUSINESS WIRE)--Aker Philadelphia Shipyard (Oslo:AKPS - News), a leading U.S. commercial shipyard, launched Hull 009, the fifth in a series of 12 product tankers to be completed by the yard in 2011 and sold to American Shipping Company (Oslo:AMSC - News), formerly Aker American Shipping.
For the rest, see http://biz.yahoo.com/bw/080714/20080714006079.html?.v=1
 
Dec 2, 2000
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Easley South Carolina
Dec 2, 2000
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Easley South Carolina
From Yahoo Finance:

Aker Philadelphia Shipyard Build Methodologies Confirmed in U.S. District Court Decision
quote:

PHILADELPHIA--(BUSINESS WIRE)--In a decision filed today the U.S. District Court of the Eastern District of Pennsylvania has upheld the United States Coast Guard interpretation of the Jones Act as it relates to the modern building methods employed by Aker Philadelphia Shipyard (Oslo:AKPS - News). The decision rejected a lawsuit filed by the Metal Trades Department of the AFL-CIO.
Details at http://biz.yahoo.com/bw/080825/20080825006036.html?.v=1
 
Dec 2, 2000
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From Your Shipbuilding News:

Aker Philadelphia Shipyard Begins Construction on its Ninth Product Tanker
quote:

Aker Philadelphia Shipyard (Oslo: AKPS) began construction today on Hull 013, the ninth product tanker in a series of twelve to be built for American Shipping Company (Oslo: AMSC). When completed, the 46,000 dwt vessel will be 600 feet in length and be capable of transporting the equivalent of 14 million gallons of liquid product.
For the rest, see http://www.yourshipbuildingnews.com/news_item.php?newsID=11637
 
Dec 2, 2000
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From Marine Norway.com:

Tanker building sequence to be modified
quote:

Aker Philadelphia Shipyard has been notified by American Shipping Company that AMSC will change the building sequence of its 12 tanker build program, as AMSC has not yet been able to arrange financing for the two shuttle tankers in that program.
More at http://marinenorway.etp.no/sider/tekst.asp?side=3683

Comment: Credit woes strike again!
 
Dec 2, 2000
58,587
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Easley South Carolina
Dec 2, 2000
58,587
376
283
Easley South Carolina
From Reuters:

Aker Philadelphia Shipyard Begins Construction on Its Tenth Tanker
quote:

PHILADELPHIA--(Business Wire)--
Aker Philadelphia Shipyard (Oslo:AKPS), a leading U.S. commercial shipyard, cut
steel on Hull 014, the tenth product tanker in the series of twelve to be built
for American Shipping Company (Oslo:AMSC). Production of this vessel begins a
few days after the successful delivery of Hull 010, the Overseas Boston.
More at http://www.reuters.com/article/pressRelease/idUS205186+23-Feb-2009+BW20090223