Philly Tankers signs charter contracts for newbuild product tankers

Oslo: Philly Tankers has announced that US-based subsidiary, Philly Tankers LLC, has signed two long-term time charter contracts with a domestic end-user for the two 50,000 dwt product tankers it has on order with Aker Philadelphia Shipyard.

The charters will commence upon delivery of the vessels, which are scheduled for 2016 and 2017. Philly Tankers sill holds an option for two additional product tankers for delivery in 2017.

“This is an important milestone for Philly Tankers and we are proud of the long-term partnership that the company has established with a reputable end-user,” commented Kristian Rokke, chairman of Aker Philadelphia Shipyard and board member of Philly Tankers.

“We continue to see interesting opportunities in the Jones Act tanker space, including potential strategic partnerships, and we’ll continue to pursue those opportunities as we look to grow Philly Tankers,” he continued.

American Shipping Company, Aker Philadelphia Shipyard and Apollo Global Management established Philly Tankers in June 2014 to offer investors pure play exposure to the Jones Act tanker space. Aker Philadelphia Shipyard is the majority shareholder.


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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