U.S. Shipping Partners L.P.

U.S. Shipping Partners L.P

U.S. Shipping Partners L.P

U.S. Shipping Partners was formed by Sterling to acquire the U.S. flag product tanker operations of Amerada Hess Corporation, which included six sister vessels, existing customer contracts, vessel crews and operating management.  The company 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 also provides coastwise transportation of petrochemical, commodity and specialty chemical products.

Value Creation

Sterling worked with management to build the business through acquisitions of select domestic vessels supported by transportation contracts with customers.

Related News.

08/07/2006
U.S. Shipping Partners L.P. Subsidiary Closes $500 Million Joint Venture Transaction with Affiliates of The Blackstone Group to Construct New Tankers
07/08/2005
U.S. Shipping Partners L.P. Agrees to Acquire Double Hulled Product Tanker
11/09/2004
Sterling Investment Partners’ Portfolio Company - U.S. Shipping Partners - Closes Initial Public Offering
05/03/2004
Sterling Recaps Shipping Firm - The DEAL
05/03/2004
Sterling Investment Partners Completes $225 Million Recapitalization of United States Shipping LLC
04/15/2004
CIBC and BTM Capital close $225M US Shipping refinancing - Marine Money
05/20/2003
Sterling Investment Partners Completes Acquisition of Chemical Shipping Vessel From Union Carbide Finance Corporation
05/19/2003
Sterling adds two tankers - The Deal
04/01/2003
The Value of A Handshake - Thank You ACG!
02/24/2003
Sterling Investment Partners Awarded Deal of the Year by Buyouts Magazine
02/18/2003
U.S. Shipping by Sterling Investment Partners — Buyouts Article
09/17/2002
Sterling Investment Partners Completes Acquisition of U.S. Flag Tanker Operations of Amerada Hess