Exxon’s US Marine Affililiate Unveils Plan For Two New Tankers

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July 25, 2011

HOUSTON (Dow Jones)–ExxonMobil Corp. (XOM) said Monday its U.S. marine affiliate has signed an agreement for the construction of two crude oil tankers that will transport Alaska North Slope crude to the West Coast.

Construction of the 115,000-deadweight-ton tankers is expected to begin by mid-2012 and the vessels are scheduled for delivery in 2014, Exxon said in a press release. The tankers will be capable of carrying 730,000 barrels of crude oil and they will replace two existing double-hull tankers, the company said.

All cargo and fuel compartments will be equipped with double-hull protection, the company added.

Exxon’s U.S. marine affiliate, SeaRiver Maritime, signed a letter of intent for the construction of both ships with Aker Philadelphia Shipyard ASA (AKPS.OS) in partnership with Samsung Heavy Industries Co. (010140.SE).

SeaRiver Maritime, headquartered in Houston, operates a fleet of U.S. flag tankers and provides a wide range of technical and commercial marine services to Exxon affiliates throughout the world.

-By Isabel Ordonez, Dow Jones Newswires

Pictured: Aker Philadelphia shipyard. Courtesy Aker Philadelphia


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