Press Release

U.S. Shipping Partners L.P. Announces That Its Third ATB Was Delivered on Schedule and "...Will Enter Service in Early December 2008"

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Posted 02 December 2008 @ 04:48 pm ET

EDISON, NJ -- (Marketwire) -- 12/02/08 -- U.S. Shipping Partners L.P. (PINKSHEETS: USSPZ)(the "Partnership") today announced that its third Articulated Tug Barge(ATB) unit was delivered on schedule with the sailing of the bargePetrochem Trader and the tug Brownsville from Bay Shipbuilding at SturgeonBay, Wisconsin. The Petrochem Trader, the barge for the third ATB unit,was constructed at Bay Shipbuilding and delivered November 4, 2008. TheBrownsville, the tug for the third ATB unit, was constructed at EasternShipbuilding, Panama City, Florida and delivered October 31. Upon deliveryof the Brownsville, the tug sailed from Panama City and arrived in SturgeonBay on November 19 for final commissioning of the ATB. The Brownsville /Petrochem Trader sailed Sturgeon Bay and is currently enroute to the GulfCoast and will enter service in early December as part of the Partnership'schemical fleet.

Ron O'Kelley, President and CEO, noted, "The delivery of the third ATBdemonstrates our continuing commitment to our customers to modernize ourfleet by adding new double-hulled vessels in both the refined petroleumproducts and chemical markets. The fourth and final ATB in this series iscurrently scheduled for delivery in November 2009 and the first jointventure product tanker is scheduled for delivery in the first quarter of2009. These newbuilds, together with scheduled retirements and sales ofour ITB fleet, will ensure that the Partnership will have one of the mostmodern versatile fleets in the Jones Act trade."

The Partnership also announced that it has sold the ITB Jacksonville in thefourth quarter of 2008.

About U.S. Shipping Partners L.P.

U.S. Shipping Partners L.P. is a leading provider of long-haul marinetransportation services for refined petroleum, petrochemical and commoditychemical products in the U.S. domestic "coastwise" trade. ThePartnership's existing fleet consists of twelve tank vessels: fiveintegrated tug barge units; one product tanker; three chemical parceltankers and three ATBs, the first of which entered service in July 2007,the second entered service in August 2008 and the third will enter servicein early December 2008. The Partnership has embarked on a capitalconstruction program to build additional ATBs and, through a joint venture,additional tank vessels that upon completion will result in the Partnershiphaving one of the most modern versatile fleets in service. For additionalinformation about U.S. Shipping Partners L.P., please visit www.usslp.com.

This press release includes "forward-looking statements" as defined by theSecurities and Exchange Commission. All statements, other than statementsof historical facts, included in this press release that addressactivities, events or developments that the Partnership expects, believesor anticipates will or may occur in the future are forward-lookingstatements. These statements are based on certain assumptions made by thePartnership based on its experience and perception of historical trends,current conditions, expected future developments and other factors itbelieves are appropriate in the circumstances. Such statements are subjectto a number of assumptions, risks and uncertainties, many of which arebeyond the control of the Partnership, which may cause its actual resultsto differ materially from those implied or expressed by the forward-lookingstatements. Such assumptions, risks and uncertainties are discussed indetail in the Partnership's filings with the SEC and include, among otherthings, the willingness of our lenders to continue to make advances to usunder our revolving credit facility to meet our working capitalrequirements, increased financing costs, no occurrence of an event ofdefault under our credit agreement that would allow our lenders to demandimmediate repayment of all outstanding borrowings under the creditfacility, our liquidity, future charter rates, demand in the spot marketfor vessels and timely and on-budget delivery of our remaining ATB and thejoint venture tankers currently under construction.

Contact Information:Albert BergeronChief Financial OfficerU.S. Shipping Partners L.P.1-866-467-2400


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