Aker Philly in preliminary deal for 2-4 tanker newbuilds

aker philadelphiaMAY 6, 2013 — Aker Philadelphia's strategy of building the last two ships in its long running Veteran Class of products carriers for its own account seems to have worked. Both have been sold to Crowley and the shipyard's two contracts with SeaRiver have secured its backlog through late 2014.

In its most recent quarterly report, Aker Philadelphia ASA says that all the financing required for the SeaRiver ships is now in place and that a key focus for 2013 continues to be securing new orders to expand the order backlog.

The quartely report says that Aker Philadelphia and "an undisclosed potential buyer have signed a non-binding term sheet regarding the construction and sale of two to four product tankers with expected deliveries in 2015 and 2016. The transactiions contemplated by the term sheet are subject to agreement on definitive documents and fulfilment of certain closing conditions, including, but not limited to, securing commitments for financing."
The shipbuilder is continuing to pursue other prospects for new construction projects in all other areas of the Jones Act market, including shuttle tankers, containerships, short-sea shipping vessels, offshore service vessels, barges , wind turbine installation vessels, and other large steel fabrication projects, in order to secure additional backlog in 2014 and beyond.

It says that many potential customers have expressed interest in LNG propulsion and that it is "preparing designs to meet this burgeoning demand."

Read the quarterly report HERE

Want more? Subscribe now!

News from NASDAQ