U.S. Shipping Partners reports $60.19 million September net loss

By Alice Popovici

New York, Oct. 20 - U.S. Shipping Partners, LP reported a $60.19 million net loss for September on $46.83 million in revenues, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

In comparison, in August the company posted a $2.39 million net loss on $8.35 million in revenues.

U.S. Shipping had $21.52 million in cash and cash equivalents at the end of September, down from $24.74 million at the end of August.

U.S. Shipping is an Edison, N.J.-based provider of long-haul marine transportation services. It filed for bankruptcy on April 30. Its Chapter 11 case number is 09-12711.

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