U.S. Shipping Partners defaults on $333M of debt, may be sold

(EDISON, N.J.) — U.S. Shipping Partners LP has defaulted on $333 million in debt, Bloomberg News reported. The company, which operates 12 Jones Act vessels, has entered into talks with creditors. The entire company or some assets may be sold to pay back the debt.
Click here to view the Bloomberg News story.
By Professional Mariner Staff