Philly Shipyard, Inc., the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), will participate in the U.S. Navy's Auxiliary General Ocean Surveillance (T-AGOS(X)) industry studies under an award made to its teammate and prime contractor, BMT Designers & Planners, Inc. BMT is a leading independent naval architecture and marine engineering design consultancy experienced in supporting U.S. Government shipbuilding programs.
The industry studies are the precursor for the future detail design and construction (DD&C) contract to replace the existing ocean surveillance ships that gather underwater acoustical data. The T-AGOS ships are operated by Military Sealift Command to support the anti-submarine warfare mission of the commanders of the Atlantic and Pacific fleets. Upon completion of the industry studies, bidders will compete for the DD&C contract. A contract award for the DD&C of the first vessel, plus options for up to six additional vessels, is anticipated in 2022.
Steinar Nerbovik, Philly Shipyard President and CEO, remarked "Philly Shipyard is excited to take part in these industry studies. Working alongside BMT, together we look forward to providing the detailed research that will shape the future of these vessels and the important mission they serve."
Philly Shipyard is now participating in industry studies for three U.S. Government shipbuilding programs, including the T-AGOS program. Philly Shipyard will continue its work on the other two industry studies, one supporting the U.S. Navy's Common Hull Auxiliary Multi-Mission Platform (CHAMP) program and another supporting the U.S. Coast Guard's Offshore Patrol Cutter (OPC) program.
About Philly Shipyard:
Philly Shipyard, Inc. (PSI) is a leading U.S. shipbuilder 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 oceangoing merchant vessels with a track record of delivering quality ships, having delivered around 50% of all large ocean-going Jones Act commercial ships since 2000. PSI is the sole operating subsidiary of Philly Shipyard ASA. Philly Shipyard ASA is listed on the Oslo Stock Exchange (Oslo: PHLY) 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.