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Us Shipping Partners Lp News

15 Nov 2009

U.S. Shipping Partners Exits Chapter 11

U.S. Shipping Corp, formerly known as U.S. Shipping Partners L.P., announced it has emerged from Chapter 11 bankruptcy protection pursuant to the Third Plan of Reorganization approved by the U.S. Bankruptcy Court for the Southern District of New York on October 1, 2009. "We are very pleased to be out of Chapter 11," said Joseph Gehegan, President and Chief Executive Officer. Under the plan as implemented, $100m of second lien debt was extinguished in exchange for 45% of the equity of U.S. Shipping Corp and the principal amount of the first lien debt was reduced to $300m at an improved rate of interest. The holders of the first lien debt received 45% of the equity of the company, and 10% of the equity has been set aside for management.

19 Mar 2009

NASSCO Lays Keel of Tenth T-AKE Ship

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE:GD) , on March 17 laid the keel for USNS Charles Drew, the tenth dry cargo-ammunition ship in the U.S. Navy's T-AKE program. Construction of the Charles Drew began in October. The ship is scheduled to be delivered to the Navy in the third quarter of 2010. The ship is named in honor of the African-American physician who was a pioneer in blood preservation and storage. On March 19, NASSCO will begin construction of USNS Washington Chambers, the eleventh ship of the T-AKE class. The Washington Chambers is scheduled to be delivered to the Navy in the first quarter of 2011. The ship bears the name of the Navy officer who oversaw the early development of U.S. naval aviation.

05 Mar 2009

NASSCO Delivers USNS Carl Brashear

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE:GD) , on March 4, delivered USNS Carl Brashear (T-AKE 7) to the U.S. Navy. The ship is named in honor of the first African-American to qualify and serve as a Master Diver. Brashear's life story was portrayed in the 2000 movie Men of Honor. Construction of the USNS Carl Brashear began in May 2007. NASSCO has incorporated international marine technologies and commercial ship-design features into T-AKE-class ships, including an integrated electric-drive propulsion system, to minimize operating costs during their projected 40-year service life. With a cargo capacity of more than 10…

02 Feb 2009

NASSCO Awarded $35m Navy Contract

General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE: GD), has been awarded two contracts totaling $34.6m by the U.S. Navy to modernize the amphibious assault ship USS Germantown (LSD 42) and maintain the amphibious transport dock ship USS Dubuque (LPD 8). Under the first contract, valued at $26.3m, NASSCO will upgrade the Germantown’s electrical generation and power distribution systems. The contract follows a $100,000 award to NASSCO last July for preparatory work for the ship’s modernization. Additional contracts are expected to be awarded for other hull, mechanical and engineering work. Modernization work aboard the Germantown began in December and is scheduled to end in August. The 610 ft ship was commissioned in February 1986 and is homeported in San Diego.

03 Nov 2008

NASSCO Delivers USNS Amelia Earhart

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), delivered USNS Amelia Earhart (T-AKE 6) to the U.S. Navy on October 30. The ship is named in honor of the record-setting aviator. “We have reduced the man-hours to build this sixth ship of the T-AKE class by nearly 50 percent when compared to the production time of the lead ship,” said Frederick J. Harris, president of General Dynamics NASSCO. Construction of the USNS Amelia Earhart began in December 2006. NASSCO has incorporated international marine technologies and commercial ship-design features into T-AKE class ships, including an integrated electric-drive propulsion system, to minimize operating costs during their projected 40-year service life.

23 Jun 2008

Commandant Presents Rear Adm. William M. Benkert Awards

Coast Guard Commandant Adm. Thad Allen will honor the recipients of the 2008 Biennial, Rear Adm. William M. Benkert, Marine Environmental Award for Excellence by presenting the awards during an American Petroleum Institute luncheon in . Silver Award -- U.S. Honorable Mention -- Todd Pacific Shipyards Corporation, Seattle, and SeaRiver Maritime Inc., . The award recognizes maritime industry businesses and corporations involved in marine facility or vessel operations that have demonstrated sustained excellence and outstanding achievement in protecting the marine environment. The award program also encourages innovations in operations, maintenance, cargo handling, refueling, training and the sharing of best practices throughout the industry.

02 Apr 2008

Eastern Shipbuilding Group Launches ATB

Eastern Shipbuilding Group, Inc. was scheduled to launch an ABS Classed 150 x 46 x 27-ft. ATB Ocean Going Tug at its Allanton facility in on  February 15. is being constructed for U.S. Shipping Partners, L.P. of along with two sister ships. is the first of three ABS-Classed 150-ft. ATB tugs currently under construction at Eastern’s Allanton facility. The vessel is designed and engineered by Guarino & Cox of , and is classed under the ABS rules for Building and Classing Steel Vessels Under 295 ft. in length. This series of 150-ft. ATB tugs offers several unique design features including an articulated tug and barge (ATB) connection system provided by Intercon. The vessel is capable of being powered by both heavy fuel oil as well as # 2 marine diesel fuel oil.

05 Nov 2007

General Dynamics NASSCO Starts Construction of Seventh T-AKE Ship

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), recently laid the keel for the seventh dry cargo-ammunition ship in the U.S. Navy’s T-AKE program and started construction of the eighth ship this week. Both ships will be delivered to the Navy in 2009. The keel of T-AKE 7 was laid on November 2, while construction of T-AKE 8 began on October 31. Recently, NASSCO launched USNS Robert E. Peary (T-AKE 5) and successfully completed sea trials for USNS Richard E. Byrd (T-AKE 4). Since June 2006, NASSCO has delivered three T-AKE ships to the Navy, and will soon deliver the Richard E. Byrd. The shipyard has contracts to build the first nine ships of the T-AKE class and recently reached an agreement to terms for ships 10 through 14.

10 Jul 2007

U.S. Shipping Partners JV Charters Tankers to Navy

U.S. Shipping Partners L.P. said that the U.S. Navy's Military Sealift Command has agreed to charter two new tankers being constructed for the Partnership's joint venture. The initial charter will be for twelve months at a cost of approximately $51 million. The Navy then has options to extend the charters via three one-year options and a further 11-month option, which if exercised would increase the cost to approximately $220m. The U.S. Navy said the ships would be deployed globally to transport petroleum products in support of US military forces. They will replace the current government-owned T-5 tankers that are expected to reach the end of their service life in 2010.

02 Jul 2007

U.S. Shipping Partners Takes Delivery of First ATB

U.S. Shipping Partners L.P. announced the delivery of its new articulated tug barge unit (ATB) the pusher tug Freeport and the parcel barge Chemical Transporter. The Partnership believes the ATB Freeport is the first IMO I ATB to be constructed in the United States. The ATB Freeport has successfully completed sea trials and has received necessary certification by the U.S. Coast Guard and the American Bureau of Shipping. The new vessel departed the shipyard on July 1, 2007 for its first load port in Louisiana, and following completion of two routine design verification test procedures and arrival at the load port, it will lift its first cargo, which is anticipated to occur at the end of this week.

22 May 2007

Guarino & Cox Designed ATB Launched

The first of a series of 12,000 hp ATB tugs being built for U.S. Shipping Partners, L.P. was recently launched. But the occasion was devoid of the usually expected thrill and large splash. The building site lacked suitable launching ways so a different, somewhat less dramatic, method was devised. Using multiple tired high capacity transporters the tug was rolled onto a barge, then towed to a graving dock. The graving dock was drained to allow the tug to be freed from the then ballasted barge. The dock was then filled with about as much excitement as turning a tap to fill a tub allowing the tug to float free in its element. Guarino & Cox, L.L.C.

07 May 2007

Ziobro Appointed VP at U.S. Shipping Partners

U.S. Shipping Partners L.P. announced the appointment of Jan T. Ziobro, a 28-year veteran of the shipping industry, as Vice President, New Construction. In this role, Mr. Ziobro will have oversight of the Partnership's new construction program, which presently stands at nine 49,000 dwt product tankers and four 19,999 dwt articulated tug barge (ATB) units. Mr. Ziobro will report to Joseph P. Gehegan, President and COO. Ziobro holds a Bachelor of Science degree in Naval Architecture and Marine Engineering from the University of Michigan. He is a member of the Society of Naval Architects and Marine Engineers and an associate member of the Association of Ship Brokers and Agents.

13 Dec 2006

BP to Charter New Product Tanker from U.S. Shipping Partners

U.S. Shipping Partners L.P announced that it has entered into a long-term charter agreement with BP for a new double-hulled product tanker being built for U.S. Shipping Partners' tanker joint venture by General Dynamics NASSCO in San Diego. This vessel is due for delivery in early 2009 and will be employed by BP in the U.S. domestic coastwise trade. The ship is the first in U.S. Shipping's new series of nine vessels.

08 Aug 2006

NASSCO, U.S. Shipping Partners Finalize Contract

General Dynamics NASSCO has finalized a $1b contract with U.S. Shipping Partners L.P. (USS) to build nine product carrier tankers. The contract includes options for five additional ships. Construction of the first tanker is scheduled to begin in the third quarter of 2007, with delivery to occur by the second quarter of 2009. The product carrier tankers or “PCs” will be 183 m in length and 32.2 m in beam, with a design draft of 11.8 m. The ships are to be double hulled, weighing 49,000 dead weight tons (DWT) and will have a cargo capacity of 331,000 barrels. USS operates a fleet of 10 deep sea vessels that carry refined petroleum and chemical products among customer facilities along the U.S. coast and has 5 double-hulled, articulated tug barges on order or under construction.

08 Mar 2006

Manitowoc Awarded Contract for Double-Hull Tank Barges

Inc. announced that U.S. Shipping Partners, L.P. 156,000-barrel, ocean-class, double-hull tank barges. built by its Bay Shipbuilding subsidiary located in Sturgeon Bay, Wisconsin. molded depth. The contract also includes options for two additional vessels. Other contract terms were not disclosed. The U.S. Manitowoc Marine Group. approximately 2.0 million barrels. The U.S. the East Coast and will be ABS, Coast Guard, and OPA-90 compliant.

07 Mar 2006

Manitowoc Wins Barge Contract

The Manitowoc Company,Inc. announced that U.S. Shipping Partners, L.P. has awarded the Manitowoc Marine Group (MMG) a contract for the construction of two 156,000-barrel, ocean-class, double-hull tank barges. The vessels will be built by its Bay Shipbuilding subsidiary located in Sturgeon Bay, Wisconsin. The barges, which are scheduled for delivery in the third and fourth quarters of 2008, will measure 521 feet in length, 72 feet in width, and 41 feet in molded depth. The contract also includes options for two additional vessels. The U.S. Shipping barges will be used for oil and chemical transport along the East Coast and will be ABS, Coast Guard, and OPA-90 compliant.

15 Nov 2005

SPS Tenant Contracts for Barge Building

SPS Limited Partnership LLLP (SPS) of Baltimore, MD and Canton, MA has leased the 1,200 ft. shipbuilding basin (the Graving Dock) located at the Sparrows Point Shipyard/Industrial Complex, Sparrows Point , MD to Senesco Marine, North Kingstown, RI. The lease involves the construction of the barge portion of the ATB, is effective Tuesday, November 15 for a period of approximately 13 months and, according to Senesco Marine representatives, is expected to bring in excess of 120 new employees to the Shipyard. Initial work on the tug portion of the barge took place at Quonset Point Shipyard, North Kingstown, RI, but could not be completed there due to space limitations.