U.S. Shipping Partners Completes Acquisition
Wednesday, November 30, 2005
U.S. Shipping Partners announced has completed its recently announced
acquisition of the Sea Venture, a 19,000 dwt double-bottomed chemical/product
tanker. The vessel was re-built in 1983 and is capable of carrying twenty
different grades of product in independent cargo tanks. The vessel is being
placed in drydock and will be available for trading in April 2006. The
transaction was financed utilizing available cash.