Keel Laying Takes Place for Tenth Vessel Built at Aker Philadelphia Shipyard

Section of product tanker set in the Building Dock
PHILADELPHIA--(Business Wire)--
Aker Philadelphia Shipyard today held a keel laying ceremony for
the sixth Veteran Class MT46 product tanker in the yard's current
build program. When completed in 2009, the vessel will be 600 feet in
length and be capable of transporting the equivalent of 14 million
gallons of liquid product. The ship is the tenth constructed by the
yard since 2000.

As part of the ceremony, coins were placed under the keel block
recreating a long-standing shipbuilding tradition whereby special
coins are hidden in the keel section of a ship as a permanent symbol
of good fortune and safe travels. Steinar Nerbovik, Vice President of
Projects represented Aker Philadelphia Shipyard in the ceremony and
was joined by Chief Warrant Officer Roger Bogert of the United States
Coast Guard.

Upon completion, the vessel will be sold to Aker American
Shipping, which in turn will lease the ship to Overseas Shipholding
Group, Inc. for operation in service to oil companies. The first three
vessels in the tanker build program were delivered in 2007 and are
currently in service, while the fourth vessel in the series has
completed sea trials and is scheduled for delivery in April. The
fifth, sixth, and seventh vessels in the series are also under
construction at the yard.

Aker Philadelphia Shipyard is a leading US commercial shipyard
constructing vessels for operation in the Jones Act market. It
possesses a state-of-the-art shipbuilding facility and has earned a
reputation as the preferred provider of oceangoing merchant vessels
with a track record of delivering quality ships. Aker Philadelphia
Shipyard is a member of the Norwegian-based Aker family of global
companies, leaders in global growth markets including energy
technologies, energy resources, maritime technologies, seafood and
marine biotechnology.

Aker Philadelphia Shipyard
Tom Marinucci / 215-875-2740
thomas.marinucci@phillyshipyard.com

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