Aker American Shipping is a Norwegian

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

-American

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 shipping

Shipping

Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...

 and shipyard

Shipyard

Shipyards and dockyards are places which repair and build ships. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Dockyards are sometimes more associated with maintenance and basing activities than shipyards, which are sometimes associated more with initial...

 company

Company

A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...

 and part of the Aker Group

Aker ASA

Aker ASA is a Norwegian holding company engaged in offshore fishing, construction and engineering. The company is listed on Oslo Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding...

, with Aker ASA owning 53.4% of the company. The company is listed on the Oslo Stock Exchange

Oslo Stock Exchange

The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...

 and is headquartered in Oslo

Oslo

Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...

, Norway

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

.

Aker American Shipping consists of the shipyard, Aker Philadelphia Shipyard

Aker Philadelphia Shipyard

Aker Philadelphia Shipyard, formerly Kværner Philadelphia Shipyard, is a shipyard located in Philadelphia, Pennsylvania, United States on the site of the defunct Philadelphia Naval Shipyard, which closed in 1995....

, and the shipping company, American Shipping Corporation (ASC). Aker American Shipping builds merchant vessels for companies operating under the Jones Act and, through its subsidiaries, owns and leases those ships as well.

The Jones Act requires all water transport between US ports to be operated by US flag ships and requires US flag ships to be built in US shipyards, owned by US citizens, and operated by an American crew.

History

Aker Philadelphia Shipyard, originally Kværner Philadelphia Shipyard, began as a product of a partnership of public and private investments used to rebuild and convert 110 acre (0.4451546 km²) of the former Philadelphia Naval Shipyard

Philadelphia Naval Shipyard

The Philadelphia Naval Business Center, formerly known as the Philadelphia Naval Shipyard and Philadelphia Navy Yard, was the first naval shipyard of the United States. The U.S. Navy reduced its activities there in the 1990s, and ended most of them on September 30, 1995...

, which was closed in 1995. After the acquisition of Kværner

Kværner

Kværner was a Norway-based engineering and construction services company in existence between 1853 and 2005 when it was merged with Aker ASA. The Kværner name was used in the subsidiary Aker Kværner until April 3, 2008 when it changed name to Aker Solutions. Kværner re-emerged on 6...

, Aker took ownership of the yard.
In 2006, Aker Philadelphia Shipyard delivered the final vessel in a four-ship series of containerships to Matson Navigation Company

Matson Navigation Company

The Matson Navigation Company, a subsidiary of Alexander & Baldwin, is a private shipping company with roots extending into the late 19th century...

. With that, the yard transitioned to building a series of Veteran Class MT46 double-hulled product tankers for bareboat charter

Bareboat charter

A bareboat charter is an arrangement for the chartering or hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement; instead, the people who rent the vessel from the owner are responsible for taking care of such things....

 to Overseas Shipholding Group

Overseas Shipholding Group

Overseas Shipholding Group, Inc. is one of the largest oil tanker operating companies in the world. It is based in New York City....

, a build program that extends into 2012.

Fleet

• Overseas Houston
• Overseas Long Beach
• Overseas Los Angeles
• Overseas New York
• Overseas Texas City

External links

• Aker Philadelphia Website of Aker Philadelphia Shipyard