Philly Shipyard Wins Contract for Hospital Ship Design Study

[By: Philly Shipyard]

Philly Shipyard, the sole operating subsidiary of Philly Shipyard ASA (Oslo:PHLY) today announced the contract award to conduct the T-AH(X) Hospital Ship Feasibility Study for Gibbs and Cox, a Leidos Inc. company. The six-month design study will cover a solution for preliminary designs to replace the two current hospital ships - USNS Mercy and USNS Comfort - owned by the U.S. Navy and operated by Military Sealift Command (MSC). Philly Shipyard will subcontract to Vard Marine Inc. ("VARD") to provide engineering and technical services for this effort.

"This contract win highlights our commitment to pursuing and securing work in the government market," said Steinar Nerbovik, Philly Shipyard President and CEO. "Along with our current commercial and government backlog of shipbuilding projects, we have completed previous design studies for the U.S. Navy and are very interested in pursuing government opportunities that fit our production delivery cycles and skill sets. We are excited and grateful to team up, once again, with Vard Marine on this important industry study."

Philly Shipyard and VARD will leverage design work performed as part of a special study completed for the U.S. Navy's Common Hull Auxiliary Multi-Mission Platform (CHAMP) program, which was won in 2019.

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.