Company Profile for K-Sea Transportation Partners L.P.Business Editors --(BUSINESS WIRE) K-Sea Transportation Partners L.P. is a leading provider of refined petroleum product marine transportation, distribution and logistics services in the northeastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Our fleet of 37 tank barges, 3 tankers and 19 tugboats serves a wide range of customers, including major oil companies, oil traders and refiners. With over two million barrels of capacity, we believe we own and operate the third largest ocean going tank barge barge, large boat, generally flat-bottomed, used for transporting goods. Most barges on inland waterways are towed, but some river barges are self-propelled. There are also sailing barges. fleet in the United States as measured by barrel carrying capacity carrying capacity the number of animal units that a farm or area will carry on a year round basis, including that needed for conservation of winter feed. Usually stated as dry cows or dry sheep equivalents per hectare. . K-Sea Transportation Partners and its predecessor companies have created hundreds of jobs and earned a place in New York Harbor New York Harbor, a geographic term, refers collectively to the rivers, bays, and tidal estuaries near the mouth of the Hudson River in the vicinity of New York City. This is sometimes construed in the sense "the Ports of New York and New Jersey". history as a quality marine transporter by forging strong bonds with customers since the early 1950's. Since April 1999, when barrel-carrying capacity approximated 1.1 million barrels, K-Sea has acquired eighteen tank vessels in 9 separate transactions, significantly increasing the Company's market share and improving operating and financial performance. Also during this period, the Company has improved its cost structure and increased the net utilization of its tank vessels from 75% to 88%. During 1999, K-Sea Transportation took delivery of two new, state of the art, double hull A double hull is a ship hull design and construction method where the bottom and sides of the ship have two complete layers of watertight hull surface: one outer layer forming the normal hull of the ship, and a second inner hull which is somewhat further into the ship, perhaps a , 30,000 bbl barges and, late in the year, successfully bid for and acquired the Northeast portion of the Maritrans fleet. This acquisition added eight tugboats with a combined horsepower horsepower, unit of power in the English system of units. It is equal to 33,000 foot-pounds per minute or 550 foot-pounds per second or approximately 746 watts. of 29,000 and 10 barges with a combined capacity of 962,629 barrels to the existing fleet. Between 2001 and 2004, K-Sea has built two new 80,000 bbl double hull barges and two new 100,000 bbl double hull barges. The Company has also acquired a barge previously used to transport ammonia ammonia, chemical compound, NH3, colorless gas that is about one half as dense as air at ordinary temperatures and pressures. It has a characteristic pungent, penetrating odor. and is in the process of rebuilding it into a 105,000 bbl petroleum barge. Early in 2004, the Company also purchased an integrated tug and barge unit with a capacity of 140,000 bbl, previously operated by SeaRiver Maritime SeaRiver Maritime is a privately held subsidiary wholly owned by ExxonMobil. The company is used by ExxonMobil as a legal shield to own oil tankers and take on all legal liability related to the shipping of crude oil, so that future tanker spills will not result in adverse economic , the marine transportation subsidiary of ExxonMobil, and is using it under a multi-year contract with SeaRiver to transport Exxon Mobil product. Today, K-Sea has a high-quality, well-maintained fleet. Approximately 5 (new number)% of our barrel-carrying capacity is double hulled, as compared to an industry average of approximately 30% for all U.S. flag coastwise coast·wise adv. & adj. Along, by way of, or following a coast: The winds blew coastwise. Coastwise winds contributed to the storm. Adj. 1. and ocean going tank vessels. By December 2004, approximately 74% of our barrel-carrying capacity will be double hulled, after giving effect to the completion of two current tank barge modification projects and the phase-out of three single-hull tank barges. Furthermore we are permitted to continue to operate our remaining single-hull tank vessels until January 1, 2015 in compliance with OPA OPA: see Office of Price Administration. 90. All of our vessels operate under the U.S. flag, and all but three are qualified to transport cargo between U.S. ports under the Jones Act.
Company: K-Sea Transportation Partners L.P.
Headquarters Address: 3245 Richmond Terrace
Staten Island, New York 10303
Main Telephone: 718-720-7207
Website: www.k-sea.com
Ticker: ksp(NYSE)
Type of Organization: Public
Industry: Transport: Maritime
Key Executives: President: Timothy Casey
Vice President: Thomas Sullivan
CFO: John Nicola
Investor Relations
Contact: Timothy Casey
Phone: 718-720-7207
Email: tcasey@k-sea.com
Investor Relations
Contact: John Nicola
Phone: 718-720-7207
Email: jnicola@k-sea.com
Customer Service
Contact: Richard Falcinelli
Phone: 718-720-7207
Email: rfalcinelli@k-sea.com
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