Philly Shipyard Celebrates Fourth APT Tanker Keel Laying (1/13)

 

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Philly Shipyard issued the following news release on January 12. It can also be viewed here.

 

Philly Shipyard Celebrates Keel Laying Milestone for Fourth Product Tanker for Kinder Morgan

 

Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY), held a ceremonial Keel Laying today for the fourth product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary.

 

Keeping with long held shipbuilding tradition, coins were placed on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock. Representatives from Philly Shipyard and Kinder Morgan were in attendance to place the coins as a sign of good fortune and safe travels. Philly Shipyard representatives included the 15 new hires that began orientation on Monday, January 9. This first orientation class of 2017 included ten new apprentices, one transportation worker, one machine operator, one shipbuilder, and two interns.

 

Steinar Nerbovik, Philly Shipyard's President and CEO, remarked, "Within the last seventeen years of building great ships, we've also built great teams and a best in class workforce. The shipyard is a place where you can be a part of something big, and we are always looking for additional skilled men and women to join our family. The new hires participating in today's Keel Laying have joined over 1,100 other shipbuilders to continue the proud legacy of building and delivering ships right here in the city of brotherly love."

 

When completed, the product tanker celebrated today will be 600 feet long and capable of carrying 50,000 tons of crude oil or refined petroleum products. The Tier II 50,000 dead weight ton (dwt) product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design which incorporates numerous fuel efficiency features, flexible cargo capability and the latest regulatory requirements. The vessel will be constructed with consideration for the use of LNG for propulsion in the future.

 

Philly Shipyard has delivered 25 ships in its 17 year history, including the first product tanker for APT in December 2016. The three remaining product tankers for APT are currently under construction and have planned deliveries throughout 2017. Also under construction at the shipyard are two 3,600 TEU containerships for Matson Navigation Company, Inc. with planned deliveries in Q3 2018 and Q1 2019. For more information on the shipyard and its projects, please visit www.phillyshipyard.com .

 

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 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, Det norske oljeselskap, Aker BioMarine, Ocean Yield, Havfisk and Akastor.

 

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