Philly Shipyard, Inc. (PSI), the
sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY),
today delivered the Louisiana, the third of
four next generation 50,000 dwt product tankers that it is building
for Crowley Maritime Corporation (Crowley). The 600-foot tanker has
a carrying capacity of 14.5 million gallons of crude oil or refined
products.
This delivery is the 23rd 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).
"We are proud to deliver another
Philly-born tanker, the shipyard's fifth tanker for Crowley and
23rd vessel in
total," remarked Philly Shipyard's President and CEO Steinar
Nerbovik. "On behalf of the men and women who built her, we
are honored knowing that the Louisiana will be
another safe and quality addition to Crowley's fleet that will
serve its mariners and our nation's waterways for decades to
follow."
The remaining product tanker for
Crowley is currently under construction and has a planned delivery
in Q3 2016. Additionally, the shipyard has started
construction of four 50,000 dwt tankers to be delivered to a
subsidiary of Kinder Morgan, Inc. The shipyard also has begun
construction of two 3,600 TEU containerships for Matson Navigation
Company, Inc.
In line with the transaction
announced by PHLY on September 22, 2015, at delivery of the
Louisiana, the shipyard sold its interest in
the PSI-Crowley joint venture with respect to that vessel to a
subsidiary of Marathon Petroleum Corporation (MPC).
For more information on Philly
Shipyard transactions and projects, please visit
www.phillyshipyard.com.
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
II, which in turn is majority-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.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.