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AKER PHILADELPHIA SHIPYARD DELIVERS EIGHTH PRODUCT TANKER (11.12.09)


The Overseas Cascade
The eighth Veteran Class MT-46 Product Tanker is the twelfth vessel built by the shipyard

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, delivered its eighth Veteran Class MT-46 product tanker today.

The 46,000 dwt vessel, named the Overseas Cascade, was delivered to a subsidiary of Overseas Shipholding Group (OSG) and will ultimately have shuttle tanker features installed at another location for use in the deepwater U.S. Gulf of Mexico. Shuttle tankers transport crude oil from deepwater areas where there are no available pipelines.

Jim Miller, President and CEO said, “I am proud to be part of the extraordinary team that constructed this product tanker. Our passion for safety, strong shipbuilding know-how, and seamless teamwork were evident in every hour used to build this vessel. This product tanker will serve OSG and its customer well.”

Aker Philadelphia has four other vessels currently under construction as part of its historical build program. All are scheduled to be delivered through spring 2011.

Please visit www.akerphiladelphia.com for a photo of the Overseas Cascade as well as updates on the four other vessels currently under construction at the yard.

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 a member of the Norwegian-based Aker family of global companies, leaders in global growth markets including energy technologies, energy resources, maritime technologies, seafood and marine biotechnology.
 

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