Philly Shipyard pens LOI for LNG-ready containerships

Philly Shipyard pens LOI for LNG-ready containerships

Philly Shipyard, the U.S. unit of Philly Shipyard ASA, signed a letter of intent with a blue chip U.S. shipping company for the construction of up to four LNG-ready containerships for the US-Hawaii trade route.

During last month, the shipyard started construction on the first two vessels, with delivery planned for 2020 while the second pair is to follow a year later.

The LOI marks the entry into the next phase in the transaction process, building on ongoing discussions between the parties.

“The identity of the shipping operating company is not being disclosed at this time,” Philly Shipyard’s statement reads.

Under the terms of the LOI, it is contemplated that the shipping operating company will make an initial order for two 3,700 TEU containerships and receive options to order two additional sister ships. It is intended that these vessels will service the containership trade between the U.S. West Coast and Hawaii.

These vessels are the continuation of the series of two similar 3,600 TEU Aloha Class containerships currently under construction at PSI for the Hawaii trade-lane.

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