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

• Press Release
• Source: U.S. Shipping
• On 4:48 pm EST, Tuesday December 2, 2008

EDISON, NJ--(MARKET WIRE)--Dec 2, 2008 -- U.S. Shipping Partners L.P. (Other OTC:USSPZ.PK - News) (the "Partnership") today announced that its third Articulated Tug Barge (ATB) unit was delivered on schedule with the sailing of the barge Petrochem Trader and the tug Brownsville from Bay Shipbuilding at Sturgeon Bay, Wisconsin. The Petrochem Trader, the barge for the third ATB unit, was constructed at Bay Shipbuilding and delivered November 4, 2008. The Brownsville, the tug for the third ATB unit, was constructed at Eastern Shipbuilding, Panama City, Florida and delivered October 31. Upon delivery of the Brownsville, the tug sailed from Panama City and arrived in Sturgeon Bay on November 19 for final commissioning of the ATB. The Brownsville / Petrochem Trader sailed Sturgeon Bay and is currently enroute to the Gulf Coast and will enter service in early December as part of the Partnership's chemical fleet.

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

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

About U.S. Shipping Partners L.P.

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

This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership, which may cause its actual results to differ materially from those implied or expressed by the forward-looking statements. Such assumptions, risks and uncertainties are discussed in detail in the Partnership's filings with the SEC and include, among other things, the willingness of our lenders to continue to make advances to us under our revolving credit facility to meet our working capital requirements, increased financing costs, no occurrence of an event of default under our credit agreement that would allow our lenders to demand immediate repayment of all outstanding borrowings under the credit facility, our liquidity, future charter rates, demand in the spot market for vessels and timely and on-budget delivery of our remaining ATB and the joint venture tankers currently under construction.

     Contact Information:
     Albert Bergeron
     Chief Financial Officer
     U.S. Shipping Partners L.P.
     1-866-467-2400