Aker Philadelphia Shipyard – Crowley product tanker jv secures $325m funding

Aker Philadelphia Shipyard – Crowley product tanker jv secures $325m funding

Oslo: Oslo Børs listed Aker Philadelphia Shipyard has said its jv with Crowley has closed a $325m senior secured term loan facility, to be used for post-delivery financing of four product tankers constructed for the jv.

The 50,000 dwt product tankers (Hulls 021-024) are based on Hyundai Mipo Dockyards design and constructed with consideration for the use of LNG propulsion.

Aker Philadelphia began construction of the four Jones Act tankers in 2014, in a deal worth a total of $500m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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