Alterna Joint Venture Commissions U.S. Tanker, American Phoenix

JULY 18, 2012—The U.S.-flag chemical tanker, 49,000 dwt American Phoenix was recently commissioned by Mid Ocean Tanker Company (MOTC). With the length of 616 feet long, beam of 105 feet and draft of 36 feet, the American Phoenix was completed by BAE Systems Southeast Shipyards in Mobile, AL. It is the largest vessel ever built and launched in the State of Alabama.

The American Phoenix was originally started by now bankrupt AHL as part of a three-ship order. It was acquired at bankruptcy auction by MOTC for $12.65 million. BAE Systems was then contracted to complete construction of the American Phoenix and prepare it for use.

The vessel is owned by MOTC, a joint venture between Mid Ocean Marine and private equity firm Alterna Capital Partners. Sea trials and delivery are scheduled to occur this month. The vessel will conduct trade initially in the Gulf of Mexico.

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