Philly Tankers AS announced that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding 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 (AKPS). The charters will commence after delivery of the vessels in 2016 and 2017, the company said in its press release.
Philly Tankers holds an option for two additional product tankers with deliveries in 2017, which the Company expects to declare, subject to raising the necessary equity capital.
About Philly Tankers:
Philly Tankers was established in June 2014 to provide major oil companies and other end-users with modern tonnage and offer investors pure play exposure toward the Jones Act tanker space. Philly Tankers is listed on the Norwegian OTC and is majority-owned by Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market.