Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the Louisiana, the third of four next generation 50,000 dwt product tankers that it is building for Crowley
Maritime Corporation (Crowley). The 600-foot tanker has a carrying capacity of 14.5 million gallons of crude oil or refined products.
This delivery is the 23rd 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).
“We are proud to deliver another Philly-born tanker, the shipyard’s fifth tanker for Crowley and 23rd vessel in total,” remarked Philly Shipyard’s President and CEO Steinar Nerbovik. “On behalf of the men and women who built her, we are honored knowing that the Louisiana will be another safe and quality addition to Crowley’s fleet that will serve its mariners and our nation’s waterways for decades to follow.”
“The Louisiana’s delivery continues to enhance the services we are able to provide to our petroleum customers,” said Crowley’s Rob Grune, senior vice president and general manager, petroleum services. “We celebrate new tonnage and the advanced technology, but most important to us and to our customers are the highly trained men and women of Crowley who are committed to transporting their fuel in the safest, most reliable way possible.”
“Milestones like today show we can deliver solutions that reinforce the value of the Jones Act vessels and American-built and American-crewed trade,” Grune said.
The remaining product tanker for Crowley is currently under construction and has a planned delivery in Q3 2016. Additionally, the shipyard has started construction of four 50,000 dwt tankers to be delivered to a subsidiary of Kinder Morgan, Inc. The shipyard also has begun construction of two 3,600 TEU containerships for Matson Navigation Company, Inc.
In line with the transaction announced by PHLY on September 22, 2015, at delivery of the Louisiana, the shipyard sold its interest in the PSI-Crowley joint venture with respect to that vessel to a subsidiary of Marathon Petroleum Corporation (MPC).