Construction Milestone Achieved on Fourth Tanker in Aker Philadelphia Shipyard Series

[Michael H. Standart]

From Your Shipbuilding News:

Aker Philadelphia Shipyard Launches Seventh Product Tanker

quote:

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, launched Hull 011, the seventh in a series of 12 product tankers to be completed by 2011. When completed, the 600 foot long vessel will be sold to American Shipping Company (Oslo: AMSC) and bareboat chartered to OSG America for use transporting petroleum products.

More at http://www.yourshipbuildingnews.com/aker+philadelphia+shipyard+launches+seventh+product+tanker_30230.html

 

[Michael H. Standart]

From Philly.com:

Aker delivers 7th in 12-ship contract

quote:

The Aker Philadelphia Shipyard has delivered its seventh ship - a 600-foot-long product tanker to American Shipping Co., the company announced yesterday.

More at http://www.philly.com/philly/business/homepage/20090612_Aker_delivers_7th_in_12-ship_contract.html

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard involved in American Shipping, OSG settlement negotiations

quote:

Aker Philadelphia Shipyard's only current customer, American Shipping Company, today informed the market that it still has not been able to arrange financing for its two shuttle tankers.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=59136&Itemid=79

 

[Michael H. Standart]

From Your Shipbuilding News:

Aker Philadelphia Announces Second Quarter 2009 - Eleventh Vessel Delivered in Turbulent Market

quote:

Aker Philadelphia Shipyard ASA (AKPS) continued to make progress on its tanker series for American Shipping Company ASA (AMSC) and delivered AKPS’ eleventh vessel on 11 June 2009. For the quarter ended 30 June 2009, the shipyard recorded operating revenues of USD 55.0 million and EBITDA (earnings before interest, taxes and depreciation and amortization) of USD 4.5 million.

More at http://www.yourshipbuildingnews.com/aker+philadelphia+announces+second+quarter+2009+-+eleventh+vessel+delivered+in+turbulent+market_37590.html

 

[Michael H. Standart]

From The Motor Ship:

Philly yard on the brink

quote:

US government officials have indicated that unless the Aker Philadelphia Shipyard manages to secure $150 million in loans to build two tankers, it will have to shut down its Navy Yard operations. The shipyard has already ordered the parts for the two tankers but has no buyers.

More at http://www.motorship.com/currentnews/article.asp?ARTICLEID=8005

 

[Michael H. Standart]

From Street Insider.com:

Aker Philadelphia Shipyard Launches Eighth Product Tanker

quote:

PHILADELPHIA--(BUSINESS WIRE)-- On Sunday, September 27th, Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, launched Ship 012. The eighth in a series of 12 product tankers to be completed by 2011, the 46,000 dwt vessel was floated off of its blocks and was transferred by tug from the Building Dock to the Outfitting Dock, where it will remain for the next few weeks as it undergoes continuous testing and commissioning in preparation for its upcoming sea trials.

More at http://www.streetinsider.com/Press+Releases/Aker+Philadelphia+Shipyard+Launches+Eighth+Product+Tanker/4975060.html

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard Delivers Eighth Product Tanker

quote:

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, delivered its eighth Veteran Class MT-46 product tanker. The 46,000 dwt vessel, named the Overseas Cascade, was delivered to a subsidiary of Overseas Shipholding Group (OSG)...

More at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=78271&Itemid=79

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard Launches Ninth Product Tanker

quote:

Today, Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, launched Ship 013, the ninth product tanker in a series of 12 to be completed by 2011.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=91203&Itemid=79

 

[Michael H. Standart]

From Marine Link:

Aker Philadelphia Keel Laying, 11th Product Tanker

quote:

Aker Philadelphia Shipyard (Oslo: AKPS) held a ceremonial keel laying on March 15 for Ship 015, the 11th product tanker being built at the yard.

More at http://marinelink.com/News/Article/Aker-Philadelphia-Keel-Laying-11th-Product-Tanker/333733.aspx

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Can't Rule Out U.S. Yard, Driller Sale, Merger

quote:

Aker ASA, the company controlled by billionaire Kjell Inge Roekke, can’t rule out selling or finding merger partners for Aker Philadelphia Shipyard ASA and Aker Drilling ASA, its chief executive officer said.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=95346&Itemid=79

 

[Michael H. Standart]

From Marine Link:

Aker Philadelphia Delivers Ninth Product Tanker

Brief story at http://marinelink.com/news/philadelphia-delivers334272.aspx

 

[Michael H. Standart]

From The Hellenic Shipping News:

Marine-highway developments provide boost for Aker Philadelphia Shipyard

quote:

Aker Philadelphia Shipyard has gotten an indirect boost with the selection by the U.S. Department of Transportation of a coastal freight service that wants Aker to build five container ships to be part of a marine-highway system The selection of American Feeder Lines Holdings L.P. of New York and its partners, the South Carolina State Ports Authority and the Port of Galveston, Texas, does not directly help Aker solve its current crisis - no new ship orders or financing - and stay in business.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=116216&Itemid=79

 

[Michael H. Standart]

From AkerPhilidelphia:

AKER PHILADELPHIA SHIPYARD DELIVERS TENTH PRODUCT TANKER (01.09.10)

quote:

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, delivered to American Shipping Company (Oslo: AMSC) its tenth Veteran Class MT-46 product tanker. The 46,000 dwt vessel, named the Overseas Anacortes, will leave the shipyard in the coming days under the operation of OSG America to transport petroleum products for Tesoro. This vessel is the fourth vessel planned to be utilized by Tesoro.

Full press release at http://www.akerphiladelphia.com/news.cfm?path=215,229&id=3-1103

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard backlog shrinks

quote:

Aker Philadelphia Shipyard has now delivered ten of the twelve Jones Act products tankers for which it has firm orders.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=127697&Itemid=54

Comment: And they're seeking new orders. The problem? There aren't any!

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard signs tentative agreement to help fund construction of two vessels

quote:

As reported by Aker Philadelphia Shipyard ASA (Oslo: AKPS) in its third quarter 2010 report issued on October 26, 2010, the future of its wholly-owned subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), is uncertain.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=1332:aker-philadelphia-shipyard-signs-tentative-agreement-to-help-fun d-construction-of-two-vessels&catid=7:shipbuilding-news&Itemid=71

 

[Michael H. Standart]

From The Professional Mariner:

Pennsylvania agrees to aid Aker Philadelphia in building 2 tankers

quote:

The following is the text of a press release issued by Aker Philadelphia Shipyard:

(PHILADELPHIA) -- Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), announced today that the Commonwealth of Pennsylvania has agreed to partner with the shipyard and to fund the purchase of certain fixed assets from APSI for a purchase price of USD 42 million.

More at http://www.professionalmariner.com/ME2/dirmod.asp?sid=&nm=&type=news&mod=News&mid=9A02E3B96F2A415ABC72CB5F516B4C10&tier=3&nid=296CBFB9A52A4121A242054E EAEDE38D

 

[Michael H. Standart]

From Marine Link:

Aker Philadelphia Shipyard announces new CEO

quote:

Kristian Røkke has been appointed President and CEO of Aker Philadelphia Shipyard ASA (AKPS). He replaces Jim Miller who has been appointed Executive Vice President of Aker Contractors’ US Onshore Engineering & Construction business and member of Aker Contractors’ new Executive Management Team.

More at http://www.marinelink.com/news/philadelphia-announces337746.aspx

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard Delivers Twelfth Product Tanker

quote:

Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, delivered to American Shipping Company the shipyard’s twelfth Veteran Class MT-46 product tanker.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=21108:aker-philadelphia-shipyard-delivers-twelfth-product-tanker&cati d=7:shipbuilding-news&Itemid=71

 

[Michael H. Standart]

From The Hellenic Shipping News:

New Aker Philadelphia Shipyard chief has high hopes

quote:

He has the good looks of Britain's Prince William - and the smile to go with it.Though not royalty, Kristian Rokke, 28, hails from one of the wealthiest families in Norway.

He is the new chief executive officer of Aker Philadelphia Shipyard, where he has worked for four years in various management roles.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=25532:new-aker-philadelphia-shipyard-chief-has-high-hopes&catid=7:shi pbuilding-news&Itemid=71

 

[Michael H. Standart]

From The Hellenic Shipping News:

Aker Philadelphia Shipyard secures funding from Caterpillar Financial

quote:

Aker Philadelphia Shipyard, Inc., the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), has entered into a loan agreement with Caterpillar Financial Services Corporation (Cat Financial) for a construction loan facility and contingent floorplan loan facility totaling USD 80 million.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=27850:aker-philadelphia-shipyard-secures-funding-from-caterpillar-fin ancial&catid=7:shipbuilding-news&Itemid=71