K-Sea Transportation Partners L.P. (NYSE: KSP) announced today that it has been informed that the owners of its general partner have withdrawn the registration statement for the proposed initial public offering of K-Sea GP Holdings LP due to the current state of the financial markets.
Timothy J. Casey, President and CEO of K-Sea, said “The fundamentals of our business remain solid and we are confident in our prospects. The possible general partner IPO would have had no impact on our results of operations or financial condition, and its withdrawal also has no impact on us.”
About K-Sea Transportation Partners
K-Sea Transportation Partners is one of the largest coastwise tank barge operators in the United States. The Company provides refined petroleum products transportation, distribution and logistics services in the U.S. domestic marine transportation market, and its common units trade on the New York Stock Exchange under the symbol KSP. For additional information, please visit the Company’s website, including the Investor Relations section, at www.k-sea.com .
Contacts:
John J. Nicola, Chief Financial
Officer, 732-565-3818
