>Aker Philadelphia Shipyard Delivers Eighth U.S. Product Tanker

>PHILADELPHIA, PA – Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, recently delivered its eighth Veteran Class MT-46 product tanker . The 46,000 dwt vessel, named the Overseas Cascade, was delivered to a subsidiary of Overseas Shipholding Group (OSG) and will ultimately have shuttle tanker features installed at another location for use in the deepwater U.S. Gulf of Mexico. Shuttle tankers transport crude oil from deepwater areas where there are no available pipelines.

Aker Philadelphia has four other vessels currently under construction as part of its historical build program. All are scheduled to be delivered through spring 2011. Photos of the Overseas Cascade as well as updates on the four other vessels currently under construction at the yard are available at www.akerphiladelphia.com.

Construction oversight of the product tankers is provided by Coast Guard Sector Delaware Bay under the Coast Guard’s Alternate Compliance Program (ACP). The Coast Guard’s ACP is one of the most significant regulatory reinvention programs of the 1990s. As contained within Title 46, Part 8, Subpart D of the Code of Federal Regulations (CFR) , the ACP is intended to reduce the regulatory burden on the maritime industry while maintaining existing levels of safety and providing increased flexibility in the construction and operation of U.S. flag vessels.