Program designed to provide state-of-the-art training vessels to five state maritime academies

PHILADELPHIA, PA / ACCESSWIRE / September 26, 2024 / Philly Shipyard, Inc. ("Philly Shipyard"), the sole operating subsidiary of Philly Shipyard ASA (Oslo:PHLY), today delivered the Patriot State, the second of five new purpose-built, state-of-the-art training vessels for America's state maritime academies. The U.S. Department of Transportation's Maritime Administration (MARAD) new vessel program - known as National Security Multi-Mission Vessels (NSMVs) - was designed to provide world-class training for America's future mariners and to support humanitarian assistance and disaster relief missions in times of need. This second vessel, Patriot State, is being delivered to MARAD and will serve Massachusetts Maritime Academy.

"We stand tall and proud as we wave goodbye to the Patriot State," said Steinar Nerbovik, President & CEO of Philly Shipyard. "It is the second NSMV to be delivered in the program, and the journey to Massachusetts brings well-deserved recognition and excitement for the future of the vessel, the entire NSMV program, and our shipyard. Our workforce has dedicated much time and skill to ensuring a safe at-sea experience for the cadets and crew and a dependable learning environment for all future mariners."

Philly Shipyard was awarded the contract to build the NSMVs by TOTE Services, LLC ("TOTE Services"), a U.S.-based company hired by MARAD as the Vessel Construction Manager (VCM) to oversee the construction of the training vessels. The NSMV program is the first government sponsored ship building program to utilize the VCM model. This model places the responsibility for the selection and oversight of the shipyard on a government contractor that utilizes commercial best practices to manage the project.

NSMV I, Empire State, was delivered in September 2023 to serve SUNY Maritime College. NSMV III (Maine Maritime Academy) and NSMV IV (Texas A&M Maritime Academy) are both under construction in Philly Shipyard's outfitting and building docks, respectively. NSMV III is scheduled for delivery in 2025. The steel cutting for NSMV V (California Maritime Academy) was completed earlier this year, placing all remaining vessels in various stages of production at Philly Shipyard.

"The Patriot State is the second of five NSMVs that TOTE Services is managing in partnership with Philly Shipyard. These vessels are a vital investment in the future of maritime in the U.S. and showcase the potential that arises when we utilize the right expertise and resources for the benefit of our country and future generations. TOTE Services' role as the vessel construction manager for these ships highlights its 49-year legacy as a leader in American maritime," commented Jeff Dixon, President of TOTE Services.

The NSMV program is an important investment in America's shipbuilding industry, which supports nearly 400,000 U.S. jobs. Each NSMV will feature numerous instructional spaces, a full training bridge, and accommodations for up to 600 cadets to train in a first-rate maritime academic environment at sea. State maritime academies graduate more than half of all new officers each year - the merchant mariners who help keep cargoes and our economy moving. Many also support U.S. national security by crewing military sealift vessels.

Today's delivery of the Patriot State marks an important milestone for the NSMV program as well as the VCM contract model. This innovative approach enables shipyards to apply commercial best practices for design and construction to government vessels. There is growing interest in the VCM contract model and its potential applicability to government shipbuilding programs to reduce costs, accelerate delivery times, and build more vessels.

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About the National Security Multi-Mission Vessel (NSMV) Program

The U.S. Department of Transportation Maritime Administration's (MARAD) NSMV program is designed to provide a purpose-built, state-of-the-art training platform for the state maritime academies in New York, Massachusetts, Maine, Texas, and California, respectively.

This next-generation training fleet will address a critical shortage of qualified officers necessary to crew government and commercial owned sealift ships. In addition to providing world-class training for America's future mariners, the NSMVs will be available to support humanitarian assistance and disaster relief missions in times of need.

The NSMV will feature numerous instructional spaces, a full training bridge, and have space for up to 600 cadets to train in a first-rate maritime academic environment at sea. State maritime academies graduate more than half of all new officers each year-the merchant mariners who help keep cargoes and our economy moving. Many also support U.S. national security by crewing military sealift vessels.

In addition to being a state-of-the-art training and educational platform, each ship will feature modern hospital facilities, a helicopter pad, and the ability to accommodate up to 1,000 people in times of humanitarian need. Adding to the NSMV's capability, it will provide needed roll-on/roll-off and container storage capacity for use during disaster relief missions.

Ship specifications will be compatible with the pier length, draft restrictions, and mooring limitations at each of the maritime training academies.
Vessel specifications:

• Length: 159.85 m

• Breadth: 27.00 m

• Draft, scantling: 7.50 m

• Total berthing: 760 people

• Speed: 18 kts

• Deadweight: 8,487 MT

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 Euronext Expand Oslo (Oslo: PHLY) and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA (Aker). Aker is an industrial investment company that exercises active ownership to create value. Aker has ownership interests in oil and gas, renewable energy and green technologies, maritime assets, marine biotechnology and industrial software, and its portfolio includes companies like Aker BP, Aker Horizons, Aker BioMarine, Cognite, and Aker Solutions. For more information about Philly Shipyard, please visit www.phillyshipyard.com.

About TOTE Services

TOTE Services, LLC ("TOTE Services") is a leading U.S.-based company that provides ship management, vessel construction management and technical consulting services to governmental and commercial parties. Since 2015, TOTE Services has been a first-mover in clean alternative fuels, having overseen the construction and management of the nation's first LNG-powered container ships and the first LNG bunker barge. TOTE Services, along with TOTE Maritime Alaska, LLC and TOTE Maritime Puerto Rico, LLC, are part of the TOTE Group. TOTE Group is a member of the Saltchuk family of companies. For more information about TOTE Services, please visit www.toteservices.com.

Media & Investor Contact:

Philly Shipyard, Inc.
Qurana Moody
215-875-8863
[email protected]

SOURCE: Philly Shipyard ASA