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Us Shipping Corp News

16 Aug 2021

SEACOR Acquires USSC

(Photo: USSC)

SEACOR Holdings Inc. completed its acquisition of U.S. Shipping Corp (USSC), a privately owned provider of long-haul marine transportation for chemical and petroleum cargoes in the U.S. coastwise trade, operating under the Jones Act.

25 Feb 2020

Marine News' 2020 ATB Report

(Photo: Vane Bros.)

There’s a barge full of reasons why many operators turn to ATBs.A  mainstay of the U.S. coastwise dirty and refined products trades, articulated tug barges (ATB) have increasingly filled a void left as the fleet of Jones Act tankers (with crew complement requirements exceeding that of tugs) has aged out. With the cargo capacity of the larger ATBs – some with barges exceeding 300,000 barrels capacity – rivalling that of workhorse tankers that had served oil consuming regions, the concept certainly makes sense from a supply and distribution perspective.With 50…

02 Aug 2017

The Evolving ATB Jones Act Business Model

ATB Corpus Christi/Petrochem Supplier (Image Credit: US Shipping Corp)

Today’s ATB play seemingly has legs for the long haul, as operators build and market needs fluctuate. The refined product trades are always in flux. Similarly, the supply patterns for products (and for chemicals derived from oil refining) are subject to constant change. At the same time, the distribution of refined petroleum products sees great benefit from the efficiency of Articulated Tug Barges (ATBs), which have the flexibility to adjust to dynamic supply programs between refineries and myriad distribution facilities dotting the coastline. It wasn’t always like that.

29 Mar 2017

New Mississippi Container Terminal Planned

Image: Plaquemines Port Harbor & Terminal District

Plans have been put in motion to develop a new intermodal container terminal on the lower Mississippi River. Designed to service the largest ocean carriers, the new 1,000 acre container terminal will be capable of docking vessels up to 20,000 TEU with deep-water access and 21,600 linear feet of waterfront allow for multiple ocean and APCT vessels to be accommodated simultaneously. The container port, located between mile 50 and 55 on the Mississippi River, will be the southern-most full service port complex on the river…

15 May 2014

Jones Act Tanker Market to Grow with Oil Production Boom

The Jones Act has been blamed for everything from higher prices of goods and oil to a shortage of rock salt supply in the Northeast during the past winter, but the 94-year-old U.S. federal statute governing the U.S. coastal shipping trades will not be going away anytime soon. The solid status of this deeply entrenched U.S. federal maritime law is reflected in heavy investments by oil, logistics and shipping companies in this lucrative domestic shipping sector. Last December, Kinder Morgan spent nearly $1 billion in its acquisition of its first Jones Act tanker assets when it bought American Petroleum Tankers and State Class Tankers. The market outlook for U.S.- flagged oil tankers remains bright, and some companies are banking on that.

11 Feb 2014

Murray & Associates Hosts Third Fishing Challenge

Photo credit: Shane Roeser, Trans Marine Propulsion Systems

A group of industry professionals from the commercial maritime sector gathered in Fort Lauderdale, Fla. at 8 a.m. on February 8 to participate in Murray & Associates LLC’s 2014 Fishing Challenge. The naval architect and marine engineering group hosted the tournament for the third consecutive year as a way to gather clients and maritime business professionals for a day of fishing on Florida’s beautiful waters. In total, the tournament drew 60 participants, including representatives from…

06 May 2013

Cape Fear Federal Pilots Launch New Boat

New Cape Fear Pilot Boat: Image courtesy of Pilot Service

Cape Fear federal pilot launches its first pilot boat and welcomes its latest customer, US Shipping Corp. After years of using a hired launch vessel for boarding ATB's, tugs and ships at the entrance to the Cape Fear River, the Cape Fear Federal Pilots recently launched its first pilot vessel. River pilot Tony McNeill, who operates the pilotage service for the Port of Wilmington NC for U.S. The boat is Boston Whaler Challenger that Tony has had for a couple of years but has waited for the appropriate time to put it to work. Pilot McNeill informs that In addition to the new boat, U.S.

23 May 2012

Coast Guard Recognizes Industry's Environmental Excellence

The U.S. Coast Guard announced the award recipients for the 2012 Biennial Rear Admiral William M. Benkert, Marine Environmental Protection Award for Excellence at the American Petroleum Institute Tanker Conference in Orlando, Fla. The winner of the Osprey award went to APL Co. Pte. Ltd. based out of Singapore in the large vessel category. The winners for the Gold award went to AEP River Operations based out of St. Louis and Holland America based out of Seattle in the foreign vessel category. Ingram Marine Group based out of Nashville, Tenn., Matson Navigation based out of Oakland, Calif., and Marathon Petroleum Co. based out of Tampa, Fla., were winners in the large vessel category. Winners for the Silver award in the large vessel category went to Maersk Line Ltd. based out of Baltimore.

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.