2001 Maritime

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June 20, 2001

Kvaerner Philadelphia books products tankers
Pennsylvania Governor Tom Ridge today announced that Kvaerner and Pennsylvania-based Keystone Shipping Co. have signed a letter of intent to buy four 40,000 dwt products tankers from the new Philadelphia yard at a total price of approximately $240 million.The first ship is scheduled for delivery in 2003. "

Ron McAlear, president and CEO of Kvaerner Philadelphia, hailed the agreement with Keystone as "a solid expression of confidence in this facility."

Today's official grand opening of the yard formally marked the completion of the ultra modern shipbuilding facility with the keel laying of the first grand block for the yard's first ship, a 2,600 TEU Philadelphia Class containership.On a signal from Governor Ridge and Philadelphia Mayor John. F. Street, the 350 ton grand block was positioned on the floor of the yard's building dock by the giant gantry crane that is now a feature of Philadelphia's waterfront skyline