TUG Maritrans Part

Maritrans Inc. (NYSE:TUG), a leading U.S. flag marine petroleum transportation company, today announced the redelivery of the M209 double-hull barge and her married tug ENTERPRISE. Using its patented process, Maritrans has now rebuilt six barges to double-hull OPA-compliant standards. The Company also took advantage of the time out of service to lengthen the M209 to add approximately 30,000 barrels of cargo-carrying capacity, an increase of approximately 17%. With the completion of the rebuild of the M209, 69% of Maritrans' aggregate fleet capacity is now double-hulled, compared to the Jones Act fleet average of 45%. Following the redelivery of the M209 and the ENTERPRISE, the unit has entered service for Valero Marketing and Supply Company transporting refined petroleum products in the U.S. Gulf to Florida market. Jonathan Whitworth, Chief Executive Officer of Maritrans commented, "We are pleased to have received redelivery of the M209 and continue to maintain a significant lead over peers in operating an OPA compliant double-hull fleet. Maritrans' proactive approach to rebuilding our fleet while delivering strong financial results underscores Maritrans' leadership in the Jones Act industry as well as our fleet's significant earnings power. Going forward, as we continue to invest in our fleet for the benefit of customers and stockholders, we remain focused on delivering profitable growth by executing on our strategic initiatives." ABOUT MARITRANS Maritrans Inc. is a U.S. based company with a 77-year commitment to building and operating petroleum transport vessels for the U.S. domestic trade. With 15 units, Maritrans has the largest fleet in its size category and one of the largest serving the U.S. coastwise trade. The fleet consists of four oil tankers and eleven oceangoing married tug/barge units with an aggregate fleet capacity of approximately 3.6 million barrels, of which 69 percent is double-hulled. Maritrans has two primary areas of focus: transporting refined products in the Gulf of Mexico to growth areas such as Florida and supplying Philadelphia area refineries with crude oil lightering from large foreign tankers. Maritrans is headquartered in Tampa, Florida, and maintains an office in the Philadelphia area. SAFE HARBOR STATEMENT The information in this news release includes certain forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, growth, performance, earnings per share or achievements to be materially different from those expressed in or implied by such forward-looking statements. These statements are based on assumptions the Company believes are reasonable, but a variety of factors could cause the Company's actual results, goals, targets or objectives to differ materially from those contemplated, projected, forecast, estimated, anticipated, planned or budgeted. Such factors include, among others, changes in oil companies' decisions as to the type and origination point of the crude that it processes, changes in the amount of imported petroleum products, competition for marine transportation, domestic oil consumption, the continuation of federal law restricting United States point-to-point maritime shipping to U.S. vessels (the Jones Act), the timing and success of our double-hull rebuilding program, demand for petroleum products, future spot market rates, demand for our services, levels of foreign imports, changes in interest rates, the effect of war or terrorist activities and the general financial, economic, environmental and regulatory conditions affecting the oil and marine transportation industry in general. The Company is under no duty to update any of these forward-looking statements after the date of this release to conform such statements to actual results.