Norway-based Aker Philadelphia Shipyard (APSI), the wholly-owned US subsidiary of Aker Philadelphia Shipyard, celebrated two significant ship milestones this week.

APSI, which is listed on the Oslo Stock Exchange, is majority-owned by Converto Capital Fund, a unit of leading Norwegian industrial investment company Aker.

The shipyard recently held a ceremonial Keel Laying for the second of four product tankers that it is building for its joint venture with Crowley.

At the Keel Laying ceremony, coins were placed on one of the keel blocks before the 580 tonne-unit, which will be part engine room of the completed ship, was lowered into place in the dry dock.

This tradition dates back to early shipbuilding and signifies good fortune and safe travels. Representatives from APSI and Crowley were in attendance to place the coins and sign the keel block, said a statement from APSI.

Aker said construction has begun on its fourth product tanker in the same series.

Representatives from both companies gathered in the fabrication shop to begin cutting the first plate of the fourth product tanker in the series.

That plate will become part of the double hull of the tanker that protects the cargo tanks. When completed in 2015 and 2016, these vessels will be 600 feet long and be capable of carrying 50,000 tons of crude oil or refined petroleum products.

Steinar Nerbovik, APSI’s president and CEO, said: "We now have all four product tankers we are building with Crowley under construction in various stages throughout the shipyard. I am proud of the hard working men and women of the shipyard and the quality vessels that they produce."

"Our workforce has grown along with our backlog of work and I look forward to completing these vessels and many more together," he added.-TradeArabia News Service