First Product Tanker Delivered from Aker Philadelphia Shipyard

Aker Philadelphia Shipyard has delivered the first vessel in an up to 16 ship order of product tankers as the 600-foot long MT46 Veteran Class Overseas Houston now becomes the first ship leased to subsidiaries of Overseas Shipholding Group, Inc. (OSG). Originally announced in April 2005 with a series of 10 ships, the build program is part of a visionary arrangement with OSG to bring double-hulled, environmentally friendly product tankers to U.S. waterways. Earlier this week Aker American Shipping announced an agreement in principal with OSG for up to six additional product tankers in the series which would extend the order book into 2012.