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Heard@HQ / Heard at Headquarters 2009 / October-December (Q4)

Keel laid for 10th OSG tanker (10/13)

Union-contracted Aker Philadelphia Shipyard has posted the following news release and photo (above), available on the yard’s web site at www.phillyshipyard.com. For the record, the release was issued prior to the Phillies’ series-clinching win over the Colorado Rockies.

The double-hulled tankers in the program are operated by Seafarers-contracted Overseas Shipholding Group.

Two Great Teams - Philadelphia Phillies and Aker Philadelphia Shipyard Workers - Recognized at Keel Laying Ceremony for 10th APSI Tanker (12.10.09)

Vessel is among four currently under construction at the yard

PHILADELPHIA, PA (October 12, 2009) –Two great teams – the 1,200-strong shipyard work force and the World Champion Philadelphia Phillies - were honored today at the keel-laying for the tenth tanker in the current build program at Aker Philadelphia Shipyard (Oslo: AKPS).

APSI officials decided to recognize the Phillies along with its talented workforce because both teams symbolize a dedication to precision and exemplary teamwork. Following ancient ship-building tradition, commemorative, good-luck coins representing the Phillies and the APSI workers were placed upon a keel block which supports the vessel during construction in the building dock before the first section of the ship was lowered into place.

The ceremony was conducted against a backdrop of Phillies banners and exuberant team spirit, and included representatives of APSI and OSG America. Members of the yard’s Prefabrication Department were featured in recognition of their outstanding performance and continuous improvement over the past year. Working as a close-knit team, they are credited with dramatically reducing the number of late and defective steel plates delivered to the yard, shortening of the schedule buffers both inter-departmentally and downstream in the production process, and a 44% reduction in recordable injuries year-to-date.

When completed, the 46,000 dwt tanker will be over 600 feet long and will be sold to American Shipping Company, who in turn will bareboat charter the vessel to OSG America for use in transporting petroleum products. The yard currently has three other product tankers under construction in the series of twelve, with delivery of the next vessel expected in the next several weeks.

Aker Philadelphia 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. Aker Philadelphia Shipyard is a member of the Norwegian-based Aker family of global companies, leaders in global growth markets including energy technologies, energy resources, maritime technologies, seafood and marine biotechnology.

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