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  • 2017 November 21 18:19

    Philly Shipyard delivers fourth and final product tanker to Kinder Morgan

    Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), on November 20 delivered the American Pride, the fourth of four next generation 50,000 dwt product tankers that it has built for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc.  The vessel was delivered ten days ahead of the contract delivery date, PSI said in a news release.

    This delivery is the 28th 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.

    The American Pride, like its three sister ships, was originally under contract with Philly Tankers, a Jones Act shipping company established in June 2014 by Philly Shipyard and certain other investors to provide major oil companies and other end-users with modern tonnage.  In August 2015, Philly Tankers entered into definitive agreements with APT for the assignment by Philly Tankers of its shipbuilding contracts and related assets to APT.

    “We are proud to deliver the final product tanker in the four ship series for American Petroleum Tankers that began with the promotion by Philly Shipyard of a new Jones Act shipping venture, Philly Tankers, over three years ago,” remarked Steinar Nerbovik, Philly Shipyard’s President and CEO.  “As American Pride leaves our dock, there is a piece of each and every one of us at the yard that leaves with her. We celebrate this achievement and wave farewell as she joins the other 27 Jones Act vessels built here in Philadelphia that are currently servicing America’s ports.”

    This delivery also marks the successful conclusion to an innovative plan by PSI to invest in eight Jones Act product tankers with an approximate contract value of USD 1.0 billion through the PSI-Crowley joint venture (Hulls 021-024) and Philly Tankers (Hulls 025-028).  In line with its business strategy, Philly Shipyard will continue to evaluate opportunities to participate in the post-delivery economics of the ships that it constructs, including the container vessels contemplated by the previously announced Letter of Intent with TOTE Maritime.

    The shipyard has delivered 28 vessels in its twenty year history. Currently, the shipyard is in the process of constructing two 3,600 TEU containerships for Matson Navigation Company, Inc. with planned deliveries in 2018 and 2019.  In addition, the shipyard has entered into a Letter of Intent with TOTE Maritime for the construction and sale of up to four new, cost-efficient and environmentally friendly containerships for the Hawaii trade and is continuing with construction activities on these vessels; design, planning and procurement work is progressing, with orders placed for all major long-lead items for the first pair to support their delivery in 2020.
     
    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 AS, which in turn is wholly-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, Aker BP, Aker BioMarine, Ocean Yield and Akastor. 




2022 January 21

19:15 PortNews’ week updates and insights summary
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17:44 The new Stena Baltica has debuted on Stena Line’s Baltic Sea route from Ventspils to Nynäshamn
17:16 Port of Los Angeles breaks cargo record in 2021
17:06 Finnlines strengthens Germany-Sweden route with a fourth ship
16:36 Maersk opens its logistics center for South Western Europe at port of Barcelona
16:03 Dublin Port sees a small reduction in volumes in 2021
15:24 Kongsberg Digital joins the NorthWind project to develop digital twin technology for offshore wind
14:03 ClassNK issues Approval in Principle for ammonia-fueled Panamax bulk carrier developed by Planning and Design Center for Greener Ships (GSC)
14:02 TGE Marine announces completion of largest LNG Bi-Lobe Type C Tanks
13:23 Samskip adds 150 new sustainable reefer containers to its fleet
13:01 Icebreakers remain busy assisting shipping of the Gulf of Finland eastern part
12:13 Freight volumes increase at the Port of Gothenburg in 2021
12:12 Nippon Paint Marine’s new fastar antifouling earmarked for Cosco Shipping VLCC fleet
11:42 RZD invested heavily in its rolling stock upgrade in 2021
11:31 DP World launches a premium barge service between the Upper Rhine region and Rotterdam World Gateway
11:03 Israel orders three new submarines from thyssenkrupp Marine Systems
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09:32 MABUX: Global bunker prices may slide down on Jan. 21
09:21 Baltic Dry Index as of Jan 20

2022 January 20

18:35 EuroDry announces agreement to acquire a 2014-built Supramax bulker
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17:15 The U.S. Army gets $22.81 billion in supplemental funding of studies, projects and programs
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16:35 Uber Boat by Thames Clippers builds the UK’s first hybrid high speed passenger ferries
16:15 American Cruise Lines unveils Project Blue
16:05 TGE Marine announces the completion of the tank building phase for two large LNG cargo tanks
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14:11 Stena Line and Associated British Ports sign £100M deal for new ferry terminal at the Port of Immingham
13:45 Federal authorities asked to step into situation with coal transportation by Russian Railways
13:19 MABUX: Bunker Weekly Outlook, Week 03, 2022
13:12 Norside buys the platform supply vessel 'Farland' for offshore wind
12:46 New ICS guide helps seafarers navigate the digital bridge
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11:51 Port of Long Beach sets annual record with 9.38 million TEUs
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09:33 MABUX: Global bunker prices may turn over downward correction in the end of the day
09:25 Crude oil market sees downward price correction
09:08 Baltic Dry Index as of January 19

2022 January 19

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