Philly Tankers Lines Up Charters

The US Jones Act tanker operator Philly Tankers LLC, a wholly owned subsidiary of Philly Tankers AS, has entered into binding long-term time charter contracts with an unnamed US operator for the two 50,000 dwt product tankers the company has on order with Aker Philadelphia Shipyard (AKPS).

The charters will commence after delivery of the vessels in 2016 and 2017.

Philly Tankers holds an option for two additional product tankers with deliveries in 2017, which the company expects to declare, subject to raising the necessary equity capital.

“We continue to see interesting opportunities in the Jones Act tanker space, including potential strategic partnerships, and we’ll continue to pursue those opportunities as we look to grow Philly Tankers,” said Kristian Rokke, Chairman of AKPS and Board member of Philly Tankers AS. 

Aker Philadelphia Shipyard ASA, the parent company of Philly Tankers, has reported a USD 3.8 million net loss in the fourth quarter of 2014, attributed to unrealized currency losses on foreign exchange forward contracts and certain cash balances held in Norwegian Kroner.

The full year net income was USD 13.6 million for 2014, compared to USD 15.6 million for 2013.

The company reported an order backlog of a little over USD 1 billion as of December 31 2014, with last delivery in December 2018.




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