Philly Shipyard Delivers Second Container Vessel to Matson

Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), delivered ‘Kaimana Hila’ to Matson Navigation Company, Inc. (Matson) today. ‘Kaimana Hila’ is the second of two 3,600 TEU "Aloha Class” containerships that were ordered by Matson. The first vessel, ‘Daniel K. Inouye,’ was delivered by PSI in October 2018 and is currently in service for Matson.

"Today’s delivery marks the successful conclusion of the construction of the two largest container vessels ever built in the United States,” remarked Steinar Nerbovik, Philly Shipyard President and CEO. "Matson is a first-class customer and on behalf of all of the men and women of the shipyard, we thank them for their trust and confidence in us. By all measures, ‘Kaimana Hila’ will be another wonderful addition to Matson’s fleet, servicing the containership trade between the U.S. West Coast and Hawaii.”

‘Kaimana Hila’ is the 30th vessel built at Philly Shipyard in the company’s 20 year history. Measuring 850 feet long, it is built with dual fuel engines that can be adapted to use liquefied natural gas (LNG) and is designed to operate at speeds in excess of 23 knots.

Philly Shipyard and Matson previously partnered on the construction of four containerships that were delivered between 2003 and 2006. All four of those vessels are currently servicing Matson’s Pacific trade. For more information on Philly Shipyard, please visit www.phillyshipyard.com.

About Philly Shipyard:

Philly Shipyard is a leading U.S. shipyard that is presently pursuing a mix of commercial and government work. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as a preferred provider of ocean-going merchant vessels with a track record of delivering quality ships. Philly Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Aker BP, Aker BioMarine, Ocean Yield and Akastor.

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