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Philly Shipyard Member of USCG Heavy Polar Icebreaker Design Team

PHILADELPHIA--(BUSINESS WIRE)--

Philly Shipyard is teaming with Fincantieri Marine Group (FMG) to compete for the detail design and construction of the next generation heavy polar icebreaker for the United States Coast Guard (USCG). The USCG recently selected five shipyards to each conduct an industry study to help refine the vessel’s key features and performance requirements. Over the next year, FMG and Philly Shipyard, along with the naval architecture and marine engineering firm, VARD, will develop a baseline icebreaker design, cost estimate and project schedule and then refine them based on the results of the technical studies and corresponding feedback from the USCG. The various industry studies will help the USCG finalize a ship specification and project plan that will support its mission objectives and responsibilities in the polar regions and that will enable them to acquire one or more heavy polar icebreakers that are affordable to build, operate, and maintain. The USCG plans to award a single contract for design and construction of the heavy polar icebreaker in fiscal year 2019, subject to appropriations.

“We could not have asked for better partners in this project than FMG and VARD, which both have a long history of successful work for the U.S. and other governments around the world,” said Philly Shipyard CEO Steinar Nerbovik, “and this is an ideal opportunity to apply our knowledge and expertise in commercial ship construction to a U.S. government program.”

The shipyard has delivered 26 vessels in its nearly twenty year history. Currently, the shipyard has two additional 50,000 dwt tankers for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, and two 3,600 TEU containerships for Matson Navigation Company, Inc. under construction. For more information on Philly Shipyard transactions and projects, please visit www.phillyshipyard.com.

About Philly Shipyard:

Philly Shipyard is a leading U.S. 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. Philly Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Aker BP, Aker BioMarine, Ocean Yield and Akastor.

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