Aker Philadelphia Shipyard ASA (Oslo: AKPS), a leading U.S. commercial shipyard, has delivered to Crowley their second Veteran Class MT-46 product tanker. It is the fourteenth product tanker that the shipyard has completed and the eighteenth vessel overall. Crowley took delivery of the sistership, the Pennsylvania, in August 2012. The product tankers are 600 feet long and have a cargo capacity of 46,000 dwt.

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production activities today on the second of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. The construction of the two tankers, valued at $400 million, will create more than 1,000 jobs.

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), held a ceremonial keel laying today for the first of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. The construction of the two tankers, valued at $400 million, will create more than 1,000 jobs. When completed in 2014, the Liberty Class vessels will be 820 feet long and be capable of carrying 115,000 tons of crude oil. The tankers are intended to be used to transport Alaskan North Slope crude oil from Prince William Sound to the U.S. West Coast.

Aker Philadelphia Shipyard ASA (Oslo: AKPS), a leading U.S. commercial shipyard has delivered to Crowley a Veteran Class MT-46 product tanker. This is the thirteenth product tanker that the shipyard has completed and the seventeenth vessel overall. The product tankers are 600 feet long and have a cargo capacity of 46,000 dwt.

Aker Philadelphia Shipyard ASA (Oslo: AKPS) has announced that certain wholly owned subsidiaries of AKPS and Crowley Petroleum Services, Inc. (CPS) have entered into binding agreements which will result in the sale of two product tankers by Aker Philadelphia Shipyard, Inc. (APSI) to Crowley Tankers, LLC (CT). These vessels are designated as APSI Hulls 017 and 018. APSI has been building these vessels for its own account since 2011 and they are scheduled for delivery in August 2012 and February 2013, respectively.

This is the 18th Keel Laying Ceremony since the yard’s inception

PHILADELPHIA, PA (April 2, 2011) – Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, held a ceremonial keel laying this morning for Ship 018, the 14th product tanker being built at the yard.

Following long held shipbuilding tradition, coins were placed on one of the keel blocks that support the vessel during construction before the section of the ship was lowered into place. These coins are a ceremonial sign of good fortune and safe travels. The small ceremony was conducted with the most recent class of the shipyard’s Apprenticeship Program and two apprentice graduates who have risen to the position of supervisor. The Apprenticeship Program is a three year, accredited program administered by the shipyard that provides a combination of classroom and on-the-job training to create the next generation of shipbuilders.

SeaRiver President, Jack Buono, and APSI CEO, Kristian Rokke

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production activities today on the first of two Aframax tankers that it will build for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. When completed in 2014, the vessels will be 820 feet long and be capable of carrying 115,000 tons of crude oil.

Union Management Safety Committee

This is the 17th Keel Laying Ceremony since the yard’s inception

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, held a ceremonial keel laying this morning for Ship 017, the 13th product tanker being built at the yard.

At a ceremony at its shipyard attended by Governor Corbett, Mayor Nutter, and others, Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), signed definitive documentation for the construction of two aframax tankers with SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate.

Aker Philadelphia Shipyard ASA (Oslo: AKPS) announced today that its sole operating subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has signed a Letter of Intent with SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate, for the construction of two aframax tankers. The 820 foot long, 115,000 deadweight ton tankers are intended to be used to transport Alaskan North Slope crude oil from Prince William Sound to the U.S. West Coast.

Aker Philadelphia Shipyard, Inc., the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), has entered into a loan agreement with Caterpillar Financial Services Corporation (Cat Financial) for a construction loan facility and contingent floorplan loan facility totaling USD 80 million.

Overseas Tampa

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

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, delivered to American Shipping Company (Oslo: AMSC) the shipyard’s twelfth Veteran Class MT-46 product tanker. The 46,000 dwt vessel, named the Overseas Tampa, will leave the shipyard in the coming days under the operation of Overseas Shipping Group (OSG) to transport petroleum products.

Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), announced today that yesterday the transactions contemplated by the agreement signed in mid-December 2010 between APSI and the Philadelphia Shipyard Development Corporation (PSDC), which agreement was disclosed in AKPS’s releases on January 2, 2011 and February 18, 2011, were formally closed. The closing of the transactions secures the yard’s ability to finance the construction of two product tankers, Ships 17 and 18.

Kristian Røkke has been appointed President and CEO of Aker Philadelphia Shipyard ASA (AKPS). He replaces Jim Miller who has been appointed Executive Vice President of Aker Contractors’ US Onshore Engineering & Construction business and member of Aker Contractors’ new Executive Management Team. Mr. Miller is also nominated for the position as Chairman of the Board at Aker Philadelphia Shipyard.