Philly Shipyard delivers first next generation product tanker to Kinder Morgan
Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), has delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc., the company said in its press release.
This delivery is the 25th 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). The 600-foot tanker has a carrying capacity of 14.5 million gallons of crude oil or refined products.
The shipyard has commenced construction of three other 50,000 dwt tankers for APT and two 3,600 TEU containerships for Matson Navigation Company, Inc.
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.
