American Petroleum Tankers seals $28.5m US government deal

Kinder Morgan’s American Petroleum Tankers has secured a $28.5m option for a US government charter deal for the 2010-built MR products carrier
Empire State.

The US Department of Defense said the option is the third of the current contract, which includes a 12-month base period with three 12-month options and one 11-month option, which, if exercised, would bring the cumulative value of the deal to about $136.6m.

Work will be performed worldwide and is expected to be completed if all options are exercised, by July 23, 2025.

Kinder Morgan entered the Jones Act product tanker business with an initial purchase of five ships in January 2014 via the acquisition of American Petroleum Tankers and State Class Tankers for $960m in cash.

American Petroleum Tankers currently owns 16 MR Jones Act-qualified vessels, managed by Crowley Maritime.

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