Search results for: Aker Philadelphia Shipyard ASA

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  • 17 March 2015
    Business & Finance

    Oslo-listed Aker Philadelphia Shipyard ASA (AKPS) has, through its wholly-owned U.S. subsidiary Aker Philadelphia Shipyard, Inc. (APSI), executed definitive documentation with PIDC Regional Center for a loan of up to USD 60 million to finance its joint venture tanker deal with Crowley Maritime.  The loan is secured by a lien on the company’s interests in Hulls 021-024, which are the […]

  • 4 February 2015
    Business & Finance

    The U.S.-based Aker Philadelphia Shipyard, Inc., (APSI), the sole operating subsidiary of Oslo-listed Aker Philadelphia Shipyard ASA, has ratified a new four year collective bargaining agreement with the Philadelphia Metal Trades Council (PMTC). PMTC is the exclusive bargaining representative for production and maintenance employees at APSI consisting of ten unions. Mike Giantomaso, Aker Philadelphia Shipyard Vice President […]

  • 21 August 2012
    Business & Finance

    Aker Philadelphia Shipyard ASA has announced that certain wholly owned subsidiaries of AKPS and Crowley Petroleum Services, Inc. (CPS) have entered into binding agreements which will result in the sale of two product tankers by Aker Philadelphia Shipyard, Inc. (APSI) to Crowley Tankers, LLC (CT). These vessels are designated as APSI Hulls 017 and 018. […]

  • 2 June 2011

    Aker Philadelphia Shipyard, Inc., the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), has entered into a loan agreement with Caterpillar Financial Services Corporation (Cat Financial) for a construction loan facility and contingent floorplan loan facility totaling USD 80 million. Under the agreement, Cat Financial will fund up to USD 40 million per […]

  • 20 December 2012
    Business & Finance

    Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA, began production activities yesterday on the second of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. The construction of the two tankers, valued at $400 million, will create more than 1,000 […]

  • 20 December 2012

    Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA, began production activities today on the second of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. The construction of the two tankers, valued at $400 million, will create more than 1,000 […]

  • 17 January 2014

    Aker Philadelphia Shipyard ASA has completed a private placement of $60 million in a book building process directed primarily towards U.S. institutional investors. The share issue was substantially over- subscribed. The CEO of Aker Philadelphia Shipyard, Kristian Røkke, commented: “We appreciate the strong interest shown in AKPS and are pleased to have strengthened our balance […]

  • 1 February 2013
    Business & Finance

    Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard, has delivered to Crowley their second Veteran Class MT-46 product tanker. It is the fourteenth product tanker that the shipyard has completed and the eighteenth vessel overall. Crowley took delivery of the sistership, the Pennsylvania, in August 2012. The product tankers are 600 feet long and […]

  • 14 March 2014
    Business & Finance

    Aker Philadelphia Shipyard ASA (AKPS) is working with several interested parties to enter into definitive shipbuilding contracts for four product tankers (Hulls 025-028) and agreement for joint ownership in the vessels. American Shipping Company ASA (AMSC) has a positive outlook on the Jones Act market for product tankers, and has previously informed the market that […]

  • 16 July 2015
    Business & Finance

    Oslo-listed Aker Philadelphia Shipyard ASA has revealed plan to divest its portfolio of shipping assets, drawing an end to a build-up of investments as a partial owner in eight Jones Act product tankers with an approximate contract value of USD 1 billion. The divestment coincides with the name change to Philly Shipyard ASA, pending an upcoming shareholder vote […]

  • 16 July 2015
    Business & Finance

    Oslo-listed Aker Philadelphia Shipyard ASA has revealed plan to divest its portfolio of shipping assets, drawing an end to a build-up of investments as a partial owner in eight Jones Act product tankers with an approximate contract value of USD 1 billion. The divestment coincides with the name change to Philly Shipyard ASA, pending an upcoming shareholder vote […]

  • 24 December 2014
    Vessels

    Aker Philadelphia Shipyard held a keel laying ceremony for the second and began construction on its fourth LNG-ready product tanker for the JV with Crowley.

  • 31 August 2012

    Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard has delivered to Crowley a Veteran Class MT-46 product tanker. This is the thirteenth product tanker that the shipyard has completed and the seventeenth vessel overall. The product tankers are 600 feet long and have a cargo capacity of 46,000 dwt. The ship is named the […]

  • 8 March 2012

    Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA, began production activities yesterday on the first of two Aframax tankers that it will build for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. When completed in 2014, the vessels will be 820 feet long and be capable of […]

  • 8 March 2012
    Business & Finance

    Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA, began production activities today on the first of two Aframax tankers that it will build for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. When completed in 2014, the vessels will be 820 feet long and be capable of […]

  • 31 August 2012

    Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard has delivered to Crowley a Veteran Class MT-46 product tanker. This is the thirteenth product tanker that the shipyard has completed and the seventeenth vessel overall. The product tankers are 600 feet long and have a cargo capacity of 46,000 dwt. The ship is named the […]

  • 16 July 2015
    Business & Finance

    Akastor ASA’s Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), and previously President & CEO of AKPS, will assume his new […]

  • 26 July 2011

    Aker Philadelphia Shipyard ASA announced today that its sole operating subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has signed a Letter of Intent with SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate, for the construction of two aframax tankers. The 820 foot long, 115,000 deadweight ton tankers are intended to be used to transport […]

  • 21 September 2015
    Business & Finance

    Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA, held a ceremonial keel laying for the fourth of four product tankers that it is building with Crowley Maritime Corporation (Crowley).   The next generation 50,000 dwt product tankers are based on a Hyundai Mipo Dockyards (HMD) design which incorporates numerous […]

  • 21 September 2015
    Business & Finance

    Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA, held a ceremonial keel laying for the fourth of four product tankers that it is building with Crowley Maritime Corporation (Crowley).   The next generation 50,000 dwt product tankers are based on a Hyundai Mipo Dockyards (HMD) design which incorporates numerous […]

  • 1 February 2013

    Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard, has delivered to Crowley their second Veteran Class MT-46 product tanker. It is the fourteenth product tanker that the shipyard has completed and the eighteenth vessel overall. Crowley took delivery of the sistership, the Pennsylvania, in August 2012. The product tankers are 600 feet long and […]

  • 3 November 2015
    Business & Finance

    Florida-headquartered shipping company Crowley Maritime Corp. has today christened the first of four new, LNG-ready, Jones Act product tankers at the Tampa Cruise Terminal. The 50,000 dwt, 330,000-barrel-capacity ship named Ohio is the first tanker ever to receive the American Bureau of Shipping’s (ABS) LNG-Ready Level 1 approval, meaning Crowley has the option to convert the tanker […]