U.S. Shipping Takes Delivery of Golden State, First-of-Class in New Fleet of Product Tankers for U.S. Jones Act Trade

EDISON, NJ, Jan 13, 2009 (MARKET WIRE via COMTEX) -- U.S. Shipping Partners L.P. (PINKSHEETS: USSPZ) (the "Partnership") announced today that its joint venture for the construction of five U.S. Flag product/chemical tankers took delivery of the product tanker Golden State. The Golden State is the first of a class of five 49,000 DWT product carriers being built for the joint venture by General Dynamics' NASSCO division. At a length of 600 feet, the ship has a cargo capacity of approximately 331,000 barrels and will be used to carry petroleum and chemical products between U.S. ports. The ship is named in honor of the State of California.

U.S. Shipping Partners, which will manage the operation of the Golden State on behalf of the Joint Venture, said that the Golden State will begin operations on a long term charter with BP later this week. The joint venture is owned by U.S. Shipping Partners and third parties led by affiliates of The Blackstone Group.

The Golden State was christened in a ceremony at the NASSCO shipyard on Saturday, January 10 by Mrs. Sarah Ridgway, wife of Mr. John Ridgway, CEO of BP Shipping Ltd.

Mr. O'Kelley, President and CEO of U.S. Shipping Partners, commended Mr. Fred Harris, President and CEO of NASSCO, for delivering this first-of-class product tanker 6 months ahead of its original schedule and below budget, while still meeting or exceeding all quality requirements. Mr. O'Kelley emphasized that "U.S. Shipping is committed to operating one of the most modern, efficient and reliable fleets in the Jones Act trade. The delivery of the Golden State is an important milestone in our program to upgrade our fleet. And, very importantly, it extends our long term partnership with BP."

The Partnership also announced that as part of its overall strategy to modernize its fleet and replace its older ships it had completed the sale of the ITB Groton at the end of 2008. The Partnership has now taken delivery of 3 new ATBs and 1 new product tanker and is scheduled to take delivery of another ATB and two additional product tankers this year.

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 eleven tank vessels: four 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 entered service in early December 2008. The Partnership also operates one product tanker on behalf of its joint venture. 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.

Source: U.S. Shipping