Us Shipping Partners Lp

Bermuda. Teekay Offshore Partners reports Q2 results

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners LP (Teekay Offshore or the Partnership) (NYSE: TOO) today announced results of the Partnership for the quarter ended June 30, 2011. During the second quarter of 2011, the partnership generated distributable cash (1) of $ 42.6 million compared to $ 28.1 million for the same period last year. "The strong partnership second quarter cash flow reflects the benefit of our full quarter acquisition of the interest of remaining 49 percent in operating LP Teekay Offshorein March 2011, "commented Peter Evensen, Chief Executive Officer of Teekay Offshore GP LLC." The fundamentals for oil production offshore in deep water, storage and transportation will continue to be favorable and we are encouraged by the level high activity of recent tenders in the area. Our business development efforts have produced results and has recently led to the award of a new long term contract with a shuttle tanker subsidiary BG Group plc in Brazil. This contract will be served by four new shuttle tankers designed to deliver in mid-to late-2013. "Mr.Evensen added: "Our sponsor, Teekay Corporation, was recently awarded a major new contract for North Sea FPSO also with BG. It's positive for our growth in future cash flows that the unity of newbuilding FPSO should become eligible to be acquired by Teekay Offshore operations after its charter contract will begin in early 2014. In addition to our ability to secure projects or purchase ships directly from third parties, the sponsor of the Partnership, Teekay Corporation, also provides us with an important pipeline for future growth opportunities."(1) Distributable cash flow is a non-GAAP measure used by certain investors to measure the performance of the Company and other master limited partnerships.

Aarkstore Enterprise U.S. Shipping Partners L.P. (USSPQ ...

U.S. Shipping Partners L.P. (U.S. Shipping) is a chemical distribution company engaged in providing long-haul marine transportation services for refined petroleum, petrochemical and commodity chemical products, in the U.S. Jones Act trade. It also provides coastwise transportation of petrochemical and commodity chemical products. The company has a fleet of about a dozen vessels which includes; four integrated tug barges (ITB) which carry petroleum products such as gasoline, heating oil, diesel fuel, jet fuel and lubricants; three parcel tankers which carry specialty refined petroleum, petrochemical and commodity chemical products; one product tanker; and four articulated tug barge units (ATB). In addition, the company added double-hull new builds to its fleet to serve customers in both the refined petroleum product and chemical markets. The major trade routes for these vessels include West Coast, East Coast, and trans-Panama Canal. U.S. Shippings main customers include oil refineries and chemical companies. The company is headquartered at Edison in New Jersey, the US.

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