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AUGUST 2008 ISSUE

BEATING THE PIRATES
What's the best way for a shipowner to avoid having a ship hijacked by pirates?

Reroute the ship even if it means a huge diversion
Stay within recommended safe limits and patrolled areas
Hire an on-board security team
Just hope for the best

October 7, 2008

K-Sea withdraws general partner IPO

Coastwise tank barge operator 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Partners L.P. (NYSE: KSP) announced today that it has been informed that the owners of its general partner have withdrawn the registration statement for the proposed initial public offering of K-Sea GP Holdings LP due to the current state of the financial markets.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."


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