Timothy J Casey News

The members of the American Waterways Operators (AWO), the national trade association for the American tugboat, towboat and barge industry, elected Timothy J. Casey as Chairman and George Foster as Vice Chairman on Friday, April 3 during the AWO Spring Convention in Washington. Casey is President & CEO of K-Sea Transportation Corp., headquartered in East Brunswick, New Jersey, and served as vice chairman for the past year. Foster is President of JB Marine Service, Inc., headquartered in St. Louis. In his remarks to the AWO Board of Directors following his election as chairman, Mr.

The Company also announced that its distribution to unitholders for the first quarter will remain at $.77 per unit, or $3.08 per unit annualized. The distribution will be payable on November 14, 2008 to unitholders of record on November 7, 2008. President and CEO Timothy J. Casey said "Our first quarter results were satisfactory in light of the exceptional developments in the energy markets which disrupted demand in certain of our markets. There were also several factors that affected us which we believe are transitory in nature and which should ease as we progress in fiscal 2009. Our results for the first quarter reflected certain higher…

Bollinger Gretna, L.L.C., Harvey, La., a Bollinger Shipyards, Inc. company, and K-Sea Transportation Corp. of New York have signed a contract for the construction of four double hull, ocean service, OPA ‘90 oil barges. The barges will have capacities of 80,000 to 100,000 barrels. Terms were not disclosed. The barges will be built primarily for oil service on the Northeast U. S. coast. They will be coupled with existing K-Sea tugs using a connection system designed and delivered by Acomarin Engineering. The system will provide increased operating efficiency and will enhance the safety and reliability of the units. The new barges will feature double block cargo segregation, segregated ballast, cargo monitoring and vapor recovery systems as well as advanced electrical and hydraulic systems.

K-Sea Transportation Partners L.P. has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan. The new equipment will begin working immediately and is expected to be accretive to K-Sea's distributable cash flow. K-Sea has also signed a new multi-year contract with SeaRiver to utilize the unit in Exxon Mobil's petroleum products transportation in the Northeast United States. The barge has been renamed DBL 140 and the tugboat has been renamed Lincoln Sea.

K-Sea Transportation Partners has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan. The new equipment will begin working immediately and is expected to be accretive to K-Sea's distributable cash flow. K-Sea has also signed a new multi-year contract with SeaRiver to utilize the unit in Exxon Mobil's petroleum products transportation in the Northeast United States. The barge has been renamed DBL 140 and the tugboat has been renamed Lincoln Sea.

Twenty-four prominent shipping industry executives have been elected as new Members of ABS bringing the classification society's worldwide membership to 817. The members, each eminent in their maritime field of endeavor, provide broad governance and oversight of ABS. Members are drawn from various sectors of the marine, offshore and related industries worldwide. Timothy J. Lawrence R. James J. John R. RADM. Robert C. Vittorio Portunato, Managing Director, Portunato & C.S.R.L. John F. Reinhart, CEO, Maersk Line. William J. H. W.

K-Sea Transportation Partners L.P. has completed the acquisition of Smith Maritime, Ltd. of Honolulu, Hawaii and Sirius Maritime, LLC of Seattle, Wash. President and CEO Timothy J. Casey said: “We are very excited about welcoming the Smith and Sirius operating teams to K-Sea. This acquisition immediately increases our barrel-carrying capacity by 770,000 barrels, or 22% of our capacity of 3.5 million barrels at June 30, 2007. In addition, our ongoing vessel newbuilding program, under which we have ten new tank barges under construction, will add 524,000 barrels over the next three and one-half years. “These transactions strengthen our operations on the West Coast and also expand our geographical presence to Hawaii, thus providing a further platform for future growth.

DBL 28 the 1st in a series of eight OPA’90 compliant, Lakes, Bays & Sounds, ABS and USCG certified tank barges delivered from Bollinger to K-Sea Transportation for use in harbor service in ports on the Northeast U. S. Coast. Bollinger Marine Fabricators, LLC, (BMF) Amelia, La., a Bollinger Shipyards, Inc. company, has delivered the DBL 28, a double hull, oil tank barge built to meet the requirements of the Oil Pollution Act of 1990 (OPA’90), to K-Sea Transportation Partners L.P, Staten Island, N.Y. Following the delivery of the DBL 28, Bollinger announced the signing of four sister ships. Terms of the contract were not disclosed. The 28,000 BBL capacity DBL 28 measures 297.6-feet in length, with a 54-foot beam and 13-foot depth.

K-Sea Transportation Partners L.P. has agreed to acquire Sea Coast Towing, Inc. of Seattle, Wash. from Marine Resources Group, Inc., also of Seattle, for approximately $81 million. Sea Coast operates 15 tank barges and 15 tugboats, representing 694,000 barrels of capacity, of which 316,000 barrels are double-hulled. Of the remaining single hulled capacity, approximately 80 percent is eligible to operate in the Jones Act trades until January 2015, with the remaining capacity (one vessel) eligible until January 2008. The addition of these tank barges will represent a 27.1% increase in the barrel-carrying capacity of the K-Sea fleet to over 3.2 million barrels…

K-Sea Transportation Partners L.P. reported record results of operations for its fiscal 2006 first quarter ended September 30, 2005. The Company also announced that its distribution to unitholders in respect of the first quarter will increase by $0.01 to $0.57 per unit, or $2.28 per unit annualized. The distribution will be payable on November 14, 2005 to unitholders of record on November 8, 2005. For the three months ended September 30, 2005, the Company reported operating income of $6.2 million, an increase of $1.7 million, or 37%, compared to $4.5 million of operating income for the three months ended September 30, 2004. The increase resulted from the expansion of the Company's fleet barrel-carrying capacity over the past year and continued strong vessel utilization…