November 11, 2005
K-Sea reports breech in double hull
K-Sea Transportation Partners L.P. (NYSE: KSP) says it has initiated responsive action to an incident involving the tug/barge combination Rebel/DBL152 in the U.S. Gulf of Mexico.
The company initiated its Vessel Response Plan after the Master of the tug reported, at about 1:15 am local time, the barge struck a submerged object and was taking on water. An unknown quantity of fuel oil has leaked from a breech in the double hull.
K-Sea notes that it maintains significant insurance, including protection and indemnity liability coverage as well as hull and machinery coverage for the vessel. Accordingly, it expects no material financial impact from this incident.
K-Sea Transportation President and CEO Tim Casey said "we sincerely regret this incident and are working closely with all involved to resolve this situation quickly. We will have further comment when we have been able to assess all the facts."