General Dynamics NASSCO Celebrates Start of Construction for Three SEA-Vista Commercial Product Tankers

Ceremony signals the start of construction for SEA-Vista ECO Tanker, the first of three tanker ships to be constructed locally at NASSCO

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General Dynamics NASSCO

Nov 11, 2014, 10:00 ET

SAN DIEGO, Nov. 11, 2014 /PRNewswire/ -- General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), signaled the start of construction for three 50,000 deadweight ton, 330,000 barrel cargo capacity product tankers for SEA-Vista LLC, a joint venture between SEACOR Holdings Inc. and Avista Capital Partners (SEA-Vista). Each LNG-conversion ready product tanker will be constructed at the NASSCO shipyard in San Diego under Jones Act requirements and will continue to provide and support well-paying jobs in the local economy.

Representatives from General Dynamics NASSCO and SEA-Vista attended the start of construction ceremony held at the NASSCO shipyard on Friday, November 7. The honoree, Mrs. Debora Denning, wife of SEACOR Vice President of Engineering Tom Denning, signaled the beginning of construction by pressing a button to cut the first piece of steel.

"We are proud and honored to partner with SEA-Vista and build three state-of-the-art Jones Act-qualified tankers," said General Dynamics NASSCO Vice President and General Manager Kevin M. Graney. "NASSCO remains committed to building the most economical and environmentally-sound products for Jones Act owners and operators—and these tankers exemplify that commitment. Our partnership with SEA-Vista is a clear indication that NASSCO is the shipyard of choice for Jones Act tankers."

These new 610-foot-long vessels are a continuation of the ECO MR Tanker design, which offers improved fuel efficiency and incorporates the latest environmental protection features, including a Ballast Water Treatment System and reduced emissions.

The tankers were designed by DSEC, a subsidiary of Daewoo Shipbuilding & Marine Engineering (DSME) of Busan, South Korea. DSEC's ECO design achieves improved fuel efficiency through several features, including a G-series MAN ME slow-speed main engine and an optimized hull form. The tankers will have conversion-capable, dual-fuel-capable auxiliary engines and the ability to accommodate the future installation of an LNG fuel-gas system and tanks.

Each of these tankers will play a key role in offering SEA-Vista's customers the most modern and fuel efficient vessels available as they address their Jones Act transportation requirements for the movement of their current and projected crude oil and refined products volumes in the U.S.

For more information about General Dynamics NASSCO, please visit www.nassco.com.

For more information about SEACOR Holdings Inc., please visit www.seacorholdings.com.

For more information about Avista Capital Partners, please visit www.avistacap.com.

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SOURCE General Dynamics NASSCO