The following is the text of a press release issued by Aker Philadelphia Shipyard:
(PHILADELPHIA) — Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), has delivered the first of two aframax tankers to SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. The 820 foot long, 115,000 deadweight ton tanker will transport up to 800,000 barrels of Alaskan North Slope crude oil from Prince William Sound, Alaska to the U.S. West Coast. The vessel is equipped with double hull protection, the latest navigation and communications equipment, and an energy efficient engine.
“We are proud to have delivered this fine vessel, the Liberty Bay, to a first class customer such as SeaRiver and are confident it will serve them well for many years. The men and women of the shipyard have completed the largest vessel built in Philadelphia in nearly 70 years and further cemented APSI’s important place as part of the domestic energy solution,” said Steinar Nerbovik, APSI’s Managing Director.
As previously disclosed in AKPS’s Q1 2014 report, a defect in the vessel’s propulsion system was discovered during sea trials in March 2014. All remedial efforts to resolve this issue, in addition to owner requested change orders, were completed as planned. The rework impacted the vessel’s schedule as previously disclosed, but did not result in any liquidated damages.
APSI is currently constructing an additional 115,000 dwt crude oil tanker for SeaRiver and two 50,000 dwt product tankers for Crowley. In addition to the vessels currently under construction, APSI has contracts for two more 50,000 dwt product tankers for Crowley, two 50,000 dwt product tankers for Philly Tankers LLC, and two 3,600 TEU containerships for Matson Navigation with deliveries in 2018. For more information on the shipyard, please visit www.akerphiladelphia.com.
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 listed on the Oslo Stock Exchange and is majority-owned by Converto Capital Fund, 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 and Havfisk.