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AUGUST 2008 ISSUE

OFFSHORE DRILLING
Will Congress end its ban on OCS drilling before George W. Bush leaves office?

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August 25, 2008

U.S. Shipping Partners ATB completed on schedule

A little good news at last from U.S. Shipping Partners L.P. (NYSE:USS). Today it announced the completion of its second Articulated Tug Barge (ATB) unit on schedule with the delivery of the barge Petrochem Producer from Bay Shipbuilding at Sturgeon Bay, Wisconsin. The Galveston, the tug for the second unit, was delivered in July from Eastern Shipbuilding, Panama City, Florida.

The Galveston / Petrochem Producer is currently enroute to the Gulf Coast and will enter service in early September on long term charter to a major oil company.

The third ATB in the series is scheduled to be delivered in November of this year and the fourth ATB in August of 2009.


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