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-Exxon Mobil orders 2 tankers at Aker Philadelphia Shipyard.

NORDIC BUSINESS REPORT-July 26, 2011--Exxon Mobil orders 2 tankers at Aker Philadelphia Shipyard(C)2011 M2 COMMUNICATIONS

26 July 2011 - Norway-based shipbuilder Aker Philadelphia Shipyard ASA (OSL: AKPS) said Monday it agreed to construct two Aframax tankers for US oil major Exxon Mobil Corp (NYSE: XOM).

No financial details were available.

The parties entered the deal via their respective US units Aker Philadelphia Shipyard Inc and SeaRiver Maritime Inc.

The tankers will be 820 ft long and with a capacity of 115,000 deadweight tonnes (dwt). They will transport Alaskan North Slope crude oil from Prince William Sound to the US West Coast.

Project planning is being carried out together with South Korean shipbuilder Samsung Heavy Industries Co Ltd (SEO: 010140).

Construction of the first vessel is due to start by mid-2012 and the ships to be delivered in 2014.

A final contract is expected to be signed in the third quarter of 2011, pending on meeting certain conditions, including board approvals.

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Publication:Nordic Business Report
Date:Jul 26, 2011
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