Kinder Morgan has signed a definitve agreement with Philly Tankers LLC regarding the construction of four 50 000 DWT Tier II tankers. The LNG-coversion ready tankers will be constructed at the Aker Philadelphia Shipyard, Pennsylvania, US. Each tanker will have a capacity of 337 000 bbl and will incorporate a ballast water treatment system.
Two of the tankers are under long-term contract to a creditworthy oil company whilst conversation takes place regarding the second two vessels.
Kinder Morgan Terminals President, John Schlosser, said: “This latest transaction clearly underscores Kinder Morgan’s commitment to marine transportation of crude oil, condensate and refined products in the US domestic trade”.
The transaction is subject to approval from the shareholders of Philly Tankers AS, the parent company of Philly Tankers LLC.
Edited from press release by Callum O'Reilly