Endeavor-Class tankers reach Alaska waters.

• Position: Oil & Gas - Phillips Petroleum Co., tankers - Brief Article

Phillips' newest state-of-the-art Eneavour Class double-hulled tanker, the Polar Resolution, sailed into the Port of Vladez recently where it loaded its first cargo of North Slope crude oil. The vessel is operated by Polar Tankers, a Long Beach, Calif. located subsidiary of Phillips Petroleum Co. (NYSE:P).

The Polar Resolution is the second of the five 140,000-deadweight-ton Endeavour Class crude oil carriers Polar Tankers will add to its fleet each year until 2005. These are the first crude oil carriers being built specifically for the Alaska trade in compliance with the Federal Oil Pollution Act of 1990. The tankers were constructed at Northrop Grumman Litton Avondale Industries in New Orleans, La. The next Endeavour Class tanker, the Polar Discovery, will join the fleet in 2003. The tankers are valued at more than $200 million each.

"These Endeavour-Class tankers demonstrate Phillips' commitment to protect the environment and to the safe production and...