[2][3] Aker ASA originally owned 53.2% of the company, and in 2008 reduced its ownership share to 19.9%.

Aker American Shipping builds merchant vessels for companies[5] 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.

In 2006, Aker Philadelphia Shipyard delivered the final vessel in a four-ship series of containerships to Matson Navigation Company.

With that, the yard transitioned to building a series of Veteran Class MT46 double-hulled product tankers for bareboat charter to Overseas Shipholding Group, a build program that extends into 2012.