Aker American Shipping ASA and SIU-contracted Overseas Shipholding Group, Inc. (OSG) recently disclosed that they have signed an agreement under which Aker Philadelphia Shipyard, a subsidiary of Aker American Shipping, will construct two additional Veteran Class MT-46 Jones Act product tankers.
Under terms outlined under an arrangement announced Oct. 3, the shipyard will—after manufacturing the new platforms—transfer them to another subsidiary, American Shipping Corporation (ASC). ASC then will bareboat charter the vessels to subsidiaries of OSG for initial terms of 10 years. The agreement is subject to relevant government approvals.
“We are proud to be expanding our fleet from 10 to 12 tankers, and excited for the opportunity to continue exhibiting our expertise in constructing quality merchant vessels,” said Aker American Shipping President and CEO Dave Meehan. “These modern ships are vital to the U.S. Jones Act and we are eager to deliver them to an expanding market in need of quality, double-hulled vessels.”
The shipyard also recently issued a progress report on the initial 10-ship program. Assembly of the series of Veteran Class tankers is continuing on schedule, according to Aker officials. In addition to the two ships previously delivered (the Overseas Houston and the Overseas Long Beach), and the two vessels under construction in the building dock, the third tanker in the series (Hull 007) is nearing completion with testing and commissioning procedures taking place in the yard’s outfitting dock. Construction of the sixth vessel is under way with ongoing steel cutting of plates which will form part of the ship’s engine room.
In a related development, Aker American Shipping ASA-owned vessels have been designated as the first to serve as U.S.-flag shuttle tankers. Pursuant to the agreement announced Oct. 5, between OSG and Petrobras America, Inc. (Petrobras), two of the 12 products tankers under construction at Aker Philadelphia Shipyard will be converted for shuttle tanker service for use with Petrobras. OSG now has time charters in place with major oil companies or refiners for 11 of the 12 tankers.
“We are the first U.S. owner and builder entering the new and exciting shuttle tanker market, where growth prospects are seen as very strong,” said Meehan of the historic announcement. “This is an important strategic milestone for Aker American Shipping and is another example of how we are reinventing and reinvigorating the U.S. Jones Act market.”
Elsewhere, the keel laying ceremony for the fifth tanker in series took place Oct. 8 in the yard’s building dock. The ceremony itself was particularly noteworthy, according to shipyard officials, because it marked the first time that the engine room section was the initial module to be set in the dock. This complicated section featured sweeping curves and intricate outfitting whereas previous vessels saw the less-complex cargo sections of the keel set first in the dock.
As part of the ceremony, coins were placed under the keel block recreating a long-held shipbuilding tradition whereby special coins are hidden in the keel section of a ship as a permanent symbol of good fortune and safe travels.
Printer Friendly Page