U.S. Shipping Partners L.P. , a leading provider of marine transportation of petroleum products and chemicals in the Jones Act, today announced that it has entered into a long-term charter agreement with BP for a new double-hulled product tanker being built for U.S. Shipping Partners' tanker joint venture by General Dynamics NASSCO in San Diego. This vessel is due for delivery in early 2009 and will be employed by BP in the U.S. domestic coastwise trade. The ship is the first in U.S. Shipping's new series of nine vessels.Paul Gridley, Chairman and CEO, said: "We are very pleased to continue our long standing association with BP with the charter of this new tanker."
U.S. Shipping Partners L.P. is a leading provider of long-haul marine transportation services, principally for refined petroleum products, in the U.S. domestic "coastwise" trade. U.S. Shipping Partners L.P. is also involved in the coastwise transportation of petrochemical and commodity chemical products. U.S. Shipping Partners L.P. has formed a joint venture with The Blackstone Group and other investors for the construction of five, and up to nine, double-hulled product tankers by NASSCO.