| Code: 116985 |

TIN news:  The Philly Shipyard, Inc. (PSI) has held a ceremonial Keel Laying  for the fourth product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary.
Keeping with long held shipbuilding tradition, coins were placed on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock.  Representatives from Philly Shipyard and Kinder Morgan were in attendance to place the coins as a sign of good fortune and safe travels. Philly Shipyard representatives included the 15 new hires that began orientation on Monday, January 9. This first orientation class of 2017 included ten new apprentices, one transportation worker, one machine operator, one shipbuilder, and two interns.
Steinar Nerbovik, Philly Shipyard’s President and CEO, remarked,
“Within the last seventeen years of building great ships, we’ve also built great teams and a best in class workforce. The shipyard is a place where you can be a part of something big, and we are always looking for additional skilled men and women to join our family. The new hires participating in today’s Keel Laying have joined over 1,100 other shipbuilders to continue the proud legacy of building and delivering ships right here in the city of brotherly love.”
When completed, the product tanker celebrated will be 600 feet long and capable of carrying 50,000 tons of crude oil or refined petroleum products.  The Tier II 50,000 dead weight ton (dwt) product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design which incorporates numerous fuel efficiency features, flexible cargo capability and the latest regulatory requirements. The vessel will be constructed with consideration for the use of LNG for propulsion in the future.
Philly Shipyard has delivered 25 ships in its 17 year history, including the first product tanker for APT in December 2016.  The three remaining product tankers for APT are currently under construction and have planned deliveries throughout  2017. Also under construction at the shipyard are two 3,600 TEU containerships for Matson Navigation Company, Inc. with planned deliveries in Q3 2018 and Q1 2019.

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