History and important events
Aker Philadelphia Shipyard was founded in 1997 by the City of Philadelphia, the Commonwealth of Pennsylvania, the United States Government and the Kværner Shipbuilding Division, after the Philadelphia Naval Shipyard was closed in 1995.
Facilities construction was completed in 2000, at which point Aker Philadelphia Shipyard began construction of its first two container vessels. These vessels, CV 2600 type, were based on a proven design that Aker Yards was building in an affiliated shipyard in Germany. The Philadelphia Class CV 2600 was modified by APSI to meet the unique needs of the U.S. domestic markets. Matson Navigation Company agreed to purchase these first two vessels in 2002. During early 2005, Matson agreed to purchase two more containerships, an additional CV2600 Class vessel and a CV2500 containership.
In 2005, Aker American Shipping, which at the time was the parent company of Aker Philadelphia Shipyard, completed a USD 125 million share issue and was listed on the Oslo stock exchange. The proceeds from this offering were used to fund the innovative 10 product tanker program that was begun in April 2005. This product tanker project involved Aker Philadelphia Shipyard to construct the vessels, Aker American Shipping (now American Shipping Company "AMSC") to own and lease out the vessels, and Overseas Shipholding Group to bareboat charter the vessels.
In October 2007, AMSC and OSG agreed to extend the program to twelve vessels and to expand its scope to include the modification of two product tankers to serve as the first ever shuttle tankers in the US Gulf of Mexico (GoM).
The vessels are time chartered to final end users. These end users are all major oil companies or refiners (Shell Oil, BP Shipping, Petrobras, and Tesoro).
Carnegie Mellon University has estimated APSI’s impact on the regional economy in terms of wages (direct and indirect) alone to be in excess of USD 700 M over the past five years. Additionally, APSI currently purchases more than USD 20 M of materials annually in the Delaware Valley.
- Founded by the public-private partnership consisting of the City of Philadelphia, the Commonwealth of Pennsylvania, the United States Government (collectively the “Governments”) and the Kvaerner Shipbuilding Division
1997 – 2000
- Construction of the state-of-the-art facility and workforce training
- Began construction of the first two container vessels
- Matson agreed to purchase the two container vessels
- First container vessel delivered
- Second container vessel delivered
- Matson agreed to purchase two additional container vessels
- Third container vessel delivered
- AKASA (now "AMSC") formed and listed on Oslo Børs
- Construction program of 10 product tankers initiated
- Fourth container vessel delivered
- First three product tankers delivered
- Order of additional two product tankers
- Split of AMSC’s shipbuilding and ship owning operations
- Fourth and fifth product tankers delivered
- Graduation of the first three apprentice classes
- Celebrated the 10 year anniversary of the shipyard
- First dividend paid to shareholders
- Sixth, seventh and eighth product tankers delivered
- Service Awards initiated for employees with five and ten years of service
- Ninth, tenth and eleventh product tankers delivered
- New union agreement to extend into 2015
- Twelfth product tanker delivered, marking the conclusion of the MT-46 series that began in 2005
- Agreement signed with SeaRiver Maritime, Inc. for two aframax tankers for use in transporting crude oil
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Plate Priming Facility
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