U.S. Shipping Partners L.P.

Type: Public
On the web: http://www.usshipllc.com
Employees: 390
Employee growth: (14.1%)

U.S. Shipping Partners (USSP) hopes smooth sailing is in its future. The company voluntarily filed for Chapter 11 bankruptcy protection in April 2009. During the restructuring process, USSP continues to cruise coastwise between US ports, delivering refined and specialty petroleum and chemical products. Its fleet of about a dozen vessels includes tug-barge units and tankers. USSP's main customers are oil and chemical companies. BP, SeaRiver Maritime (a unit of Exxon Mobil), and Shell together account for about half of the company's sales. An investment group led by private equity firm Sterling Investment Partners owns about 40% of USSP, plus a general partner interest that gives it control of the company.

Key numbers for fiscal year ending December, 2008:
Sales: $196.4M
One year growth: 11.2%
Net income: ($133.3)M

Officers:
President, CEO, and Director: Ronald L. O'Kelley
COO and Director: Joseph P. Gehegan
VP CFO: Dennis J. Fiore

Competitors:
Hornbeck Offshore
K-Sea Transportation
OSG America

abbr. United States Ship, used in the names of ships in the U.S. Navy: the USS Maine was launched in 1895.

See the Introduction, Abbreviations and Pronunciation for further details.