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Philly Shipyard delivers first next generation product tanker to Kinder Morgan

Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), has delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc., the company said in its press release. This delivery is the 25th vessel built by PSI (formerly known as Aker Philadelphia Shipyard, Inc.). The next generation 50,000 dwt product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design that also incorporates numerous fuel efficiency features, flexible cargo capability, and the latest regulatory requirements. The vessel has also received LNG Ready Level 1 approval from the American Bureau of Shipping (ABS). The 600-foot tanker has a carrying capacity of 14.5 million gallons of crude oil or refined products. The shipyard has commenced construction of three other 50,000 dwt tankers for APT and two 3,600 TEU containerships for Matson Navigation Company, Inc.