Aker Philadelphia Shipyard Launches Eighth Product Tanker (28.09.09)

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

PHILADELPHIA, PA (September 28, 2009) – On Sunday, September 27th, Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, launched Ship 012. The eighth in a series of 12 product tankers to be completed by 2011, the 46,000 dwt vessel was floated off of its blocks and was transferred by tug from the Building Dock to the Outfitting Dock, where it will remain for the next few weeks as it undergoes continuous testing and commissioning in preparation for its upcoming sea trials.

This vessel will be named the Overseas Cascade and after delivery from Aker Philadelphia Shipyard will have shuttle tanker features installed 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, “The launch of this vessel, the eighth in a series of twelve, is a testament to the hard work and dedication of the skilled shipbuilders here at Aker Philadelphia Shipyard. With each vessel we demonstrate the continuous improvement that has made us a leading US shipyard.”

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.

Aker Philadelphia Shipyard