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Marine Log

January 7, 2008

Aker Philadelphia cutting steel for seventh tanker

Steel cutting has begun on the next tanker vessel being constructed at Aker Philadelphia Shipyard (Hull 011).

The first three vessels in the series of twelve double-hulled, environmentally friendly tankers were delivered in 2007, and start of production on Hull 011 brings the number of vessels currently under construction at the yard to four.

The ship is scheduled for completion in 2009.

Consistent with the build method for all the vessels in the series, the first steel plates cut for this ship will be used in construction of the engine room of the 46,000 deadweight ton (dwt) product tanker.

Upon completion, the twelve tankers will be owned by Aker American Shipping and bareboat chartered to Overseas Shipholding Group, Inc (OSG). To date, eleven of the twelve tankers in the build program are under signed time charter agreements between OSG and major oil companies and refiners.