Suspended – U.S. Shipping Partners L.P. Investors Forego Dividend

After making 14 regular quarterly distributions, totaling $6.14, to its limited partners through the 1st quarter of this year, U.S. Shipping Partners L.P. (“USLP”) announced on Wednesday that it in light of its review of strategic alternatives and its negotiations with its lenders to amend certain financial covenants under its senior credit facility that it will not pay a distribution on its units for the quarter ended June 30, 2008. Payments to the GP and subordinated units have been suspended since the 4th quarter of 2007.

In its first quarter earnings release, USLP disclosed that the company

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