Philly Shipyard Receives National Shipbuilders “Excellence in Safety” Award

May 25, 2022

WASHINGTON — The Shipbuilders Council of America (SCA) today announced Philly Shipyard, Inc. received SCA’s 2022 “Excellence in Safety” award. SCA, the national association representing the U.S. shipyard industry, honors companies with annual safety awards for enhancement of operations and promotion of safety and accident prevention.

Through their proactive approaches and dedication to improved safety and health of their employees, Philly Shipyard is one of fifteen shipyards awarded for their continued advancement of employee safety in the shipyard industry.

“Shipyards are complex work environments and the safety of employees is critical. Philly Shipyard’s advancements in safety over the past year reflects a deep commitment to the workforce that powers our shipyards and industrial base,” said Matthew Paxton, President of SCA. “The Shipbuilders Council is proud to recognize Philly Shipyard and the hardworking men and women who reflect the shipyard industry’s reputation as one of the safest heavy industries year after year.”

“Health, Safety, and Environment (HSE) is the keystone of the CORE Values of our company and we work hard to build our culture so that HSE is ingrained in our hearts and our minds 24/7,” said Steinar Nerbovik, President and CEO of Philly Shipyard. “Last year, we more than doubled our HSE staff as many new workers joined the yard and production ramped up significantly on the National Security Multi-Mission Vessel (NSMV) program. In January 2022, we reached two million consecutive work hours without a lost-time injury (LTI) across the span of three years. We are proud of our incident rate, which is well below the industry average. And while COVID-19 is still a global factor, we have managed to avoid a yard outbreak or work stoppage since the pandemic’s onset in 2020.”

Over the last decade, the industry has continued to place an emphasis on the importance of safety in shipyards and has continuously seen a decline in recorded injuries. So far in 2022, the shipbuilding industry continues to see a decline in recorded injuries and safety issues.

SCA member companies are eligible for a Safety Award if they submit the SCA Injury & Illness survey for all four quarters, have zero fatalities throughout the year, and either have a total recordable incident rate (TRIR) below the SCA average, or if they reduce their year-on-year TRIR by 10% or more.

About SCA

Shipbuilders Council of America (SCA) members constitute the shipyard industrial base that builds, repairs, maintains and modernizes U.S. Navy ships and craft, U.S. Coast Guard vessels of all sizes, as well as vessels for other U.S. government agencies. In addition, SCA members build, repair and service America’s fleet of commercial vessels. The Council represents 40 companies that own and operate over 80 shipyards, with facilities on all three U.S. coasts, the Great Lakes, the inland waterways system, Alaska and Hawaii. SCA also represents 87 partner members that provide goods and services to the shipyard industry. You can learn more by visiting www.shipbuilders.org.

About Philly Shipyard

Philly Shipyard, Inc. (PSI) is a leading U.S. shipbuilder that is presently pursuing a mix of commercial and government work. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as a preferred provider of oceangoing merchant vessels with a track record of delivering quality ships, having delivered around 50% of all large ocean-going Jones Act commercial ships since 2000. PSI is the sole operating subsidiary of Philly Shipyard ASA. Philly Shipyard ASA is listed on the Oslo Stock Exchange (XOAX: PHLY) and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA (Aker). Aker is an industrial investment company that exercises active ownership to create value. Aker has ownership interests in oil and gas, renewable energy and green technologies, maritime assets, marine biotechnology and industrial software, and its portfolio includes companies like Aker BP, Aker Horizons, Aker BioMarine, Cognite, and Aker Solutions.