September 24, 2015 |
Aker Philadelphia Shipyard announced Tuesday that it will sell its ship-owning investments in four product tankers to a subsidiary of Marathon Petroleum Corp., based in Findlay, Ohio. The contract value of each vessel is $150 million, Aker said. The ships, which are used to transport petroleum products and crude oil, will be delivered between now and third quarter 2016. Aker said it expects a pre-tax gain of about $10 million per ship. Aker is building the vessels in a joint venture with Crowley Maritime Corp.
September 11, 2015 |
Axalta Coating Systems has selected the Navy Yard as the site of a new international research-and-development hub, drawn by the campus' open green spaces, its existing name-brand tenants, and a generous helping of public funds. The 175,000-square-foot research and development center at the sprawling South Philadelphia site will replace a facility in Wilmington, Axalta chief executive Charles Shaver said Wednesday at a news conference. When fully operational in 2018, the $70 million project will have drawn at least 190 employees north to Philadelphia, according to the company, which makes specialty paint and coatings for the automotive and other industries.
August 12, 2015 |
Kinder Morgan Inc. announced Monday it will buy four product tankers in design and construction at Aker Philadelphia Shipyard in South Philadelphia for $568 million. Two ships used to transport petroleum products and crude oil will be delivered in late 2016 and early 2017. Two other tankers will be finished by late 2017, the Houston-based company said. Aker is building the vessels in a joint venture with American Shipping Co. called Philly Tankers L.L.C. Aker, which plans to change its name to Philly Shipyard in October, has orders to build ships through December 2018 at the Navy Yard in compliance with the U.S. Jones Act, which requires all vessels shipping cargo between U.S. ports to be U.S.-built.
July 18, 2015 |
It has been 15 years since the Philadelphia Navy Yard was turned into a suburban-style office park. Lured by the promise of free parking and easy highway access, dozens of companies now make their home there, employing some 12,000 people. The development is widely considered an economic success. If your only experience of the Navy Yard has been a fleeting glimpse from I-95, it may come as a surprise to learn that it is also a design success. Not only has the Navy Yard moved beyond the bland office-park model by creating a formal street plan with real sidewalks, but it also is producing some of the best architecture in Philadelphia - better than most of what we're seeing in Center City or University City.
July 13, 2015 |
When computer engineer Jim Nasto started working at the Philadelphia Navy Yard about a decade ago, the 1,200-acre property was a virtual desert of vacant industrial buildings and abandoned parade grounds. Many of those buildings now make up Urban Outfitters' headquarters, while the vast open spaces are being shaped into office parks inhabited by such corporations as GlaxoSmithKline. "I love it," said Nasto, 29, a research contractor for the U.S. Navy, as he tossed a bocce ball in a landscaped park that opened last month.
July 1, 2015 |
Liberty Property Trust is set to break ground Tuesday on a 94,000-square-foot office building at the Navy Yard designed by the architect behind Two World Trade Center, a plan that is among the developer's boldest bets yet on the sprawling business center. The building at 1200 Intrepid Ave., fronting a five-acre park by the designer of the High Line in New York, would contain the most office space that Liberty has started at the South Philadelphia complex without a tenant in place.
June 11, 2015 |
Drexel students closed out this spring's university fashion show season with a group of witty collections that boasted foil-knit sweaters, elaborately draped evening wear, and sportswear inspired by the brown paper bag. The annual, end-of-year presentations were staged Saturday at the Urban Outfitters corporate headquarters in the Navy Yard. The evening's most noteworthy looks included gowns by senior Calla Michaelides and baggy yet femme sportswear - inspired by the arrogant swagger of discontented youth - by sportswear designer Nadhya Sanchez.
June 10, 2015 |
WHEN America's sweetest heart and most mega of chart-toppers hits town this weekend, she won't need to ask for directions. Wyomissing native Taylor Swift spent the greater part of her 25 years a hop and a skip from Philly. As a girl, the future singer-songwriter and her family spent summers down the Shore in Stone Harbor. At age 11, she sang the national anthem at a Sixers game. Later, Swift won multiple Grammys; beat out Beyonce for a bunch of awards (sorry, Kanye )
June 4, 2015 |
One of the world's leading managers of electricity networks on Tuesday agreed to open a research center in partnership with Pennsylvania State University at the Navy Yard, reinforcing its emergence as a smart-energy campus. Alstom Grid, a unit of French industrial giant Alstom, will open the Microgrid Center of Excellence at the Navy Yard in South Philadelphia. The center will be involved in the deployment of new technologies related to "microgrids," which are localized electrical systems that can operate autonomously from the regional power grid.
June 3, 2015
ISSUE | CAMPAIGNS Votes, not dollars Like many of those who advocate that money equals speech, George Will sees it as a violation of free speech to limit a person's right to introduce as much advocacy money as they want into a political campaign ("Enough reform mischief," May 29). But campaign-reform advocates are not trying to limit free speech; they are merely trying to maintain a separate element of democracy: one person, one vote. Just because someone has the loudest horn in the room does not mean he has a right to drown out all others.