In a notice posted on the Website of the Oslo Stock Exchange, Philadelphia Shipyard ASA said its subsidiary Aker Philadelphia Shipyard and an undisclosed potential buyer have signed a non-binding term sheet regarding the construction and sale of two to four product tankers
with expected delivery in 2015 and 2016.
The transactions contemplated by the term sheet are subject to agreement on certain closing conditions, including, but not limited to, securing commitments for financing.
Operators of coastal tankers and barges, which under the Jones Act must be built in the United States and be crewed by American seafarers, have benefited from increased shipments of oil resulting from the boom in natural gas drilling. - Chris Dupin