Philly delivers first product tanker

Aker Philadelphia Shipyard has delivered the lead-ship in a16-ship series of product tankers. The 185 metre MT46 Veteran Class ?Overseas Houston? now becomes the first ship leased to subsidiaries of Overseas Shipholding Group, Inc. (OSG).

Originally announced in April 2005 with a series of 10 ships, the build program is part of an arrangement with OSG to bring double-hulled, environmentally friendly product tankers to U.S. waterways. Earlier this week Aker American Shipping announced an agreement in principal with OSG for up to six additional product tankers in the series which would extend the order book into 2012.

“Delivery of the first product tanker in the series is a satisfying achievement for the shipyard and product of the hard work of our employees and partners,” said Aker American Shipping President and CEO Dave Meehan. “With our first vessel now in operation the second dimension of Aker American Shipping’s build and own strategy in the Jones Act is now in place.”

In the coming days, the newbuilding ?Overseas Houston? will sail from the yard to the Gulf of Mexico where she will begin transporting refined petroleum products for Shell Oil Company under that company’s time charter agreement with OSG. There are three other product tankers in the series currently under production at the yard with the second due to be delivered this summer.