We are the largest coastwise tank barge operator in the United States. We provide refined petroleum products marine transportation, distribution and logistics services in the U.S. domestic marine transportation business. With a fleet of 69 tank barges and 66 tugboats, we serve a wide range of customers including major oil companies, oil traders and refiners.

We have a high-quality, well-maintained fleet. As of December 31, 2009, approximately 89% of our barrel-carrying capacity was double hulled. Furthermore, we are permitted to continue to operate all of our remaining single-hulled tank vessels until January 1, 2015 in compliance with the Oil Pollution Act of 1990 ("OPA 90"). All but two of our tank barges operate under the U.S. flag, and all but three are qualified to transport cargo between U.S. ports under the Jones Act.

Since the founding of our predecessor company in 1959, we have played an increasingly significant role in the transportation of refined petroleum products in the United States. In April 1999, our predecessor company was acquired from its founders by members of its senior management team and investment funds managed by Jefferies Capital Partners/FS Private Investments LLC. Since April 1999, when the company ceased being a family owned business, we have quadrupled our barrel-carrying capacity, significantly increased our market share, and improved our operating and financial performance. During the period from April 1999 through December 2009, we increased the total barrel-carrying capacity of our fleet, net of vessel sales and retirements, from approximately 1.1 million barrels to approximately 4.1 million barrels, while improving our cost structure and increasing the net utilization percentage of the tank vessels we operate from the mid-70s to the 80s. We also have an additional fine new tank vessels under construction, representing an additional 260,000 barrels of capacity.