U.S. Shipping Partners L.P. Completes Acquisition of the M/V Houston
13 September 2005 - 11:02PM
PR Newswire (US)
EDISON, N.J., Sept. 13 /PRNewswire-FirstCall/ -- U.S. Shipping
Partners L.P. (the "Partnership") announced today that it has
completed its recently announced acquisition of the motor vessel
GUS W. DARNELL for an aggregate purchase price of $25 million. The
vessel is a Jones Act coastwise double hulled product tanker, built
in 1985, capable of carrying approximately 240,000 barrels. The
vessel has been renamed the M/V Houston and is being placed in
drydock in Singapore for approximately 35 days. The transaction was
financed utilizing available cash and the Partnership's existing
credit facilities. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041101/USSPLOGO ) About U.S.
Shipping Partners L.P. U.S. Shipping Partners L.P. is a leading
provider of long-haul marine transportation services, principally
for refined petroleum products, in the U.S. domestic "coastwise"
trade. U.S. Shipping Partners L.P. is also involved in the
coastwise transportation of petrochemical and commodity chemical
products. For additional information about U.S. Shipping Partners
L.P., please visit http://www.usslp.com/.
http://www.newscom.com/cgi-bin/prnh/20041101/USSPLOGODATASOURCE:
U.S. Shipping Partners L.P. CONTACT: Albert E. Bergeron, Chief
Financial Officer of U.S. Shipping Partners L.P., +1-732-635-1500
Web site: http://www.usslp.com/
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