Construction Milestone Achieved on Fourth Tanker in Aker Philadelphia Shipyard Series

[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