High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
The vessels would be the 17th and 18th vessels constructed at the yard. The Commonwealth’s approval makes effective an agreement between APSI and the Philadelphia Shipyard Development Corporation (PSDC), announced January 2, to actively seek two new orders.
To further support continuing operations of APSI, the Philadelphia Metal Trades Council, which represents 11 unions at the shipyard, ratified a new collective bargaining agreement on January 18, 2011. This new labor contract will extend until January 31, 2015.
APSI has already begun preliminary production activities on the first vessel and the company anticipates the acceleration of those activities in the coming weeks pending closing of transactions made from the sale.
Aker Philadelphia Shipyard is a member of the Norwegian-based Aker family of global companies, leaders in global growth markets including energy technologies, energy resources, maritime technologies, seafood and marine biotechnology.
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