Aker American Shipping (OSE: AKASA) is a Norwegian-American shipping and shipyard company and part of the Aker Group. Aker ASA originally owned 53.2% of the company, and in 2008 reduced its ownership share to 19.9%. The company is listed on the Oslo Stock Exchange and is headquartered in Oslo, Norway. It was reported in November 2007 that the company has approximately 1,300 employees.
Aker American Shipping consists of the shipyard, Aker Philadelphia Shipyard, and the shipping company, American Shipping Corporation (ASC). Aker American Shipping builds merchant vessels for companies operating under the Jones Act, and through its subsidiaries, owns and leases those ships as well.
The Jones Act requires all water transport between US ports to be operated by US flag ships and requires US flag ships to be built in US shipyards, owned by US citizens, and operated by an American crew.
Famous quotes containing the words american and/or shipping:
“Welcome to the great American two-career family and pass the aspirin please.”
—Anastasia Toufexis (20th century)
“Talk of a divinity in man! Look at the teamster on the highway, wending to market by day or night; does any divinity stir within him? His highest duty to fodder and water his horses! What is his destiny to him compared with the shipping interests?”
—Henry David Thoreau (1817–1862)