TUG Maritrans Part

Maritrans Operating Company L.P. announced today that the US Coast Guard has suspended any further search and rescue efforts following the sinking of its tug VALOUR and confirmed that the missing crewman is presumed lost at sea. A total of three crewmen lost their lives in the incident. They were Chief Mate Fred Brenner, 53, of Baltimore, Maryland, Chief Engineer Richard Smoot, 50, of South Point, Ohio, and AB/Tankerman Ron Emory, 56, of Milford, Delaware. There are six other crewmembers who were rescued and who were reunited with their families on Thursday morning. "This tragedy saddens all of us at Maritrans and we continue to keep the families of all of the crewmembers in our thoughts and prayers," said Jonathan Whitworth, President of Maritrans Operating Company L.P. Maritrans said its barge M 192 safely reached the Cape Fear River under tow this afternoon and is en route to Wilmington, N.C., following an incident on Wednesday in which its tug, VALOUR, sank off the North Carolina coast. The barge will receive a complete condition assessment for possible damage before it returns to operations. However, the Coast Guard's preliminary assessment did not find any damage to the barge. There continues to be no indication of any loss of cargo from the barge, which is carrying a type of heavy fuel oil. Maritrans Operating Company L.P. has its headquarters in Tampa, FL, and operates a fleet of oil tankers, oil barges, and tug boats. Maritrans Operating Company L.P. is a wholly owned subsidiary of Maritrans Inc. (NYSE:TUG)