Aker Philadelphia Shipyard Welcomes Back Governor Corbett

  Aker Philadelphia Shipyard Welcomes Back Governor Corbett

Business Wire

PHILADELPHIA -- October 24, 2013

Aker Philadelphia Shipyard, Inc. (APSI) welcomed Governor Corbett back to its
facility today for an update on the state of the shipyard and a tour to view
progress on the current tankers APSI is building for SeaRiver Maritime. The
last time Governor Corbett visited APSI was September 2011 for the contract
signing of the very same tanker program.

Since Governor Corbett’s initial visit, the yard has reached its steady state
employment of over 1,000 employees and has a backlog secured out Q3 2016, with
two tankers for SeaRiver Maritime, Inc. underway and four product tankers for
Crowley behind them. Governor Corbett toured the shipyard and met with
employees to discuss the yard’s current opportunities and commitment to the
future. He also spoke with a group of apprentices from the shipyard’s
Apprentice Program. This program, started in 2004, recruits candidates with
little or no shipbuilding experience and trains them to be multi-skilled
shipbuilders. APSI’s Apprentice Program is currently full with 56 apprentices

“We are thrilled to have the Governor return to our facility at a time when we
are thriving,” said Kristian Rokke, Aker Philadelphia Shipyard President and
CEO. ”Governor Corbett has been a strong advocate of our shipyard and I speak
for all of the dedicated men and women of the shipyard in saying we are
grateful for his personal support and are proud to be delivering on our
commitments made to the state of Pennsylvania.”

APSI is currently constructing two 115,000 dwt crude oil carriers for SeaRiver
Maritime, Inc., ExxonMobil Corporation’s U.S. marine affiliate. The 820 foot
long tankers are intended to transport Alaskan North Slope crude oil from
Prince William Sound to the U.S. West Coast. Both of these crude oil tankers
are scheduled for delivery in 2014. APSI also has a signed agreement to build
four 50,000 dwt product tankers for Crowley Maritime Corporation, with
deliveries in 2015 and 2016. For more information on the shipyard, please
visit www.akerphiladelphia.com.

Aker Philadelphia 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.
Aker Philadelphia Shipyard is listed on the Oslo Stock Exchange and is 71.2
per cent owned by Converto Capital Fund, which in turn is majority-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, Det norske oljeselskap, Aker
BioMarine, Ocean Yield and Havfisk.


Aker Philadelphia Shipyard, Inc.
Kelly Whitaker, +1 215-875-2640
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