BNET Industries

K-Sea Transportation Partners LP

(KSP) is in the Transportation Industry

Market Cap:$210.3M
Last Fiscal Year Sales:$326.2M
  • Public
  • US
Dow Jones Description

We are a Delaware limited partnership formed in December 2007, and our cash generating assets consist solely of partnership interests in K-Sea Transportation Partners L.P. (NYSE: KSP). KSP is a publicly traded Delaware limited partnership that provides marine transportation, distribution and logistics services for refined petroleum products in the United States. KSP currently operates a fleet of 73 tank barges, one tanker and 59 tugboats that serves a wide range of customers, including major oil companies, oil traders and refiners. With approximately 4.3 million barrels of capacity, KSP believes it owns and operates the largest coastwise tank barge fleet in the United States.

COO & President, Altantic Region
Thomas M. Sullivan
Number of Employees 1,044
Contact Information

1 Tower Center Blvd 17th Fl

East Brunswick, New Jersey 08816-1145

k-sea.com

(732) 339-6100

NAICS Code Marine Cargo Handling: 488320

Recent Events

  • Raymond James Downgrades K-Sea Transportation Partners KSP to Underperform

    10/29/09 - Bond / Stock Rating - View Story

  • Unusual 11 Mid-Day Movers 10/29: GIGA, REV, GKK, TBL Higher; TSPT, CPF, KSP, CYTK Lower

    10/29/09 - Bond / Stock Rating - View Story

  • K-Sea Transportation Partners L.P. Announces Operating Results and $0.45 Quarterly Distribution for First Quarter of...

    10/28/09 - Financial Announcement - View Story

  • K-Sea Transportation Partners L.P. Announces Operating Results for Fourth Quarter of Fiscal 2009; Maintains $0.77...

    8/04/09 - Financial Announcement - View Story

Decision Makers

Name (plus bio) Position
Thomas M. Sullivan COO & President, Altantic Region
Rick Falcinelli Executive Vice President and Secretary
Anthony S. Abbate Senior Vice President
Charles Kauffman Vice President, Corp Development
Gregory Haslinsky Vice President, Sales and Marketing
Haslinsky Gregory Vice President of Sales and Marketing of Ksp Gp
Kauffman Charles Vice President Corporate Development
Richard P Falcinell Vice President, Administration and Secretary
Friedman Brian Beneficial Owner
Barry J. Alperin Director of Ksp Gp

Board of Directors

Name (plus bio) Position
James J. Dowling Chairman of the Board
Brian P. Friedman Board of Directors
Frank Salerno Board of Directors
John J. Nicola Board of Directors
Timothy J Casey Board of Directors

Thomas M. Sullivan has served as our Vice President of Operations since July 2003. Mr. Sullivan has served as Vice President of Operations of EW Transportation LLC (formerly K-Sea Transportation LLC) since April 1999. Mr. Sullivan also served as Vessel Supervisor for EW Transportation LLC's predecessor from March 1995 until April 1999. Mr. Sullivan joined EW Transportation LLC's predecessor in 1988, initially as a Mate aboard its tank vessels and eventually as a Captain on many of its vessels.

Organization Position Status
K-Sea Transportation Partners L.P. COO & President, Altantic Region Current
K-Sea Transportation Partners L.P. Board of Directors Current
K-Sea Transportation Partners L.P. Vice President, Operations Current

Richard P. Falcinelli has served as our Vice President of Administration since July 2003. Mr. Falcinelli has served as Vice President of Administration of K-Sea Transportation LLC since April 1999. Mr. Falcinelli joined K-Sea Transportation LLC's predecessor in January 1991, initially serving as Mate and Relief Master aboard our tank vessels. He was promoted to the position of Safety and Training Coordinator in December 1991, and assumed responsibility for developing and implementing safety policies and practices throughout the fleet. Prior to joining K-Sea Transportation LLC, Mr. Falcinelli was employed as a Connecticut River Pilot from 1988-1991.

Organization Position Status
K-Sea Transportation Partners L.P. Executive Vice President and Secretary Current
K-Sea Transportation Partners L.P. Vice President of Administration and Secretary Current

Mr. Abbate is President and Chief Executive Officer of Interchange Financial Services Corporation, the holding company for Interchange Bank, and has held that position since 1981. Prior to 1981, he served as Senior Vice President ...

Organization Position Status
Interchange Financial Services Corporation President and Chief Executive Officer Current
Interchange Bank Chief Executive Officer Current
Interchange Bank President Current
K-Sea Transportation Partners L.P. Senior Vice President Current
Sea Coast Transportation Director Current
K-Sea Transportation Partners L.P. Director Current
Home State Bank President Former
Orbisonia Community Bancorp Inc. Vice President Former
Interchange Corporation Controller Former
Commercial Bank Former
Orbisonia Community Bancorp Inc. Treasurer Former

Charles Kauffman has served as our Vice President, Corporate Development since the acquisition of Sea Coast Transportation in October 2005. Mr. Kauffman was employed from February 1984 to October 2005 by Saltchuk Resources Inc., a privately held maritime company, where he held various senior management positions, including President of Sea Coast Transportation since July 2002.

Organization Position Status
K-Sea Transportation Partners L.P. Vice President, Corp Development Current

Gregory J. Haslinsky has served as our Vice President, Sales and Marketing since October 2005 and has been employed by K-Sea Transportation since December 1999 in various sales capacities. Mr. Haslinsky was employed from November 1988 to November 1999 by Maritrans, a marine transportation company, holding various sales and marketing positions within the organization.

Organization Position Status
K-Sea Transportation Partners L.P. Vice President, Sales and Marketing Current

Organization Position Status
K-Sea Transportation Partners L.P. Vice President of Sales and Marketing of Ksp Gp Current

Organization Position Status
K-Sea Transportation Partners L.P. Vice President Corporate Development Current

Richard P. Falcinelli has served as our Vice President of Administration since July 2003. Mr. Falcinelli has served as Vice President of Administration and Secretary of EW Transportation LLC (formerly K-Sea Transportation LLC) since April 1999. From December 1993 to April 1999, Mr. Falcinelli was Risk Manager for EW Transportation LLC's predecessor. Mr. Falcinelli joined EW Transportation LLC's predecessor in January 1991, initially serving as Mate and Relief Master aboard its tank vessels. Mr. Falcinelli was promoted to the position of Safety and Training Coordinator in December 1991, and assumed responsibility for developing and implementing safety policies and practices throughout the fleet. Prior to joining EW Transportation LLC's predecessor, Mr. Falcinelli was employed as a Connecticut River Pilot from 1988-1991.

Organization Position Status
K-Sea Transportation Partners L.P. Vice President, Administration and Secretary Current

Organization Position Status
Jefferies Capital Partners President Current
K-Sea Transportation Partners L.P. Beneficial Owner Current
Sea Coast Transportation Director Current
Telex Communications, Inc. Director Current
Jefferies Group, Inc. Director Current
K-Sea Transportation Partners L.P. Director Current
Jefferies Capital Partners Managing Member Current

Mr. Alperin is a business consultant who retired from Hasbro Inc. in 1996 after 11 years in various senior executive positions, including Vice Chairman and Director. Mr. Alperin is currently on the board of Henry Schein, Inc., K'NEX Industries, Inc. and The Hain Celestial Group Inc. Mr. Alperin practiced securities law in New York City from 1966 to 1985, finishing his legal career with the law firm of Fenwick & West, where he was a managing partner. Mr. Alperin is Chairman of the Audit Committee.

Organization Position Status
K-Sea Transportation Partners L.P. Director of Ksp Gp Current
Henry Schein, Inc. Chairman Current
The Hain Celestial Group, Inc. Board of Directors Current
Sea Coast Transportation Director Current
Hasbro, Inc. Co-Chief Operating Officer Former
Hasbro, Inc. Executive Vice President Former
Hasbro, Inc. Vice Chairman and Director Former
Hasbro, Inc. Senior Executive Former
Henry Schein, Inc. Director Current

James J. Dowling has served as our Chairman of the Board since July 2003, has served as Chairman of the Board of EW Transportation LLC (formerly K-Sea Transportation LLC) since January 2002 and has served as a director of EW Transportation LLC since its formation in April 1999. Mr. Dowling has been a Managing Director of Jefferies Capital Partners, a private investment firm, since January 2002, and is a director of various private companies in which Jefferies Capital Partners has an interest. Jefferies Capital Partners is the manager of Furman Selz Investors II L.P. and its affiliated entities, principal owners of our general partner.

Organization Position Status
Jefferies Capital Partners Managing Director Current
Sea Coast Transportation Chairman of the Board Current
K-Sea Transportation Partners L.P. Chairman of the Board Current
Jefferies LLC Senior Advisor Former
Jefferies Capital Partners Senior Advisor Current

Organization Position Status
Jefferies Capital Partners President Current
Beacon Power Corporation Current
Jefferies LLC Chairman Current
Jefferies Group, Inc. Board of Directors Current
K-Sea Transportation Partners L.P. Board of Directors Current
Jefferies Capital Partners Board of Directors Current
Jefferies Capital Partners Managing Member Current
Real Mex Restaurants, Inc. Member Current
K-Sea Transportation Partners L.P. Member Current
Telex Communications, Inc. Chairman Former
Columbia University J.D. Former
Furman Selz member Former

Mr. Salerno has been in the investment business for approximately 23 years. From mid-1999 until his retirement in February 2004, Mr. Salerno was Managing Director and Chief Operating Officer of Merrill Lynch Investment Advisors--Americas Institutional Division. Previously, he served as Managing Director and Chief Investment Officer of Merrill Lynch Quantitative Advisors. From 1981 through mid-1999, Mr. Salerno served in various capacities at Bankers Trust Company, with his last position being Managing Director and Chief Investment Officer--Structured Investment Management.

Organization Position Status
K-Sea Transportation Partners L.P. Board of Directors Current

John J. Nicola has served as our Chief Financial Officer since July 2003. Mr. Nicola has served as Chief Financial Officer of EW Transportation LLC (formerly K-Sea Transportation LLC) since July 2000. Mr. Nicola was employed from November 1993 to July 2000 by Maersk Sealand in several senior financial management roles, including Chief Financial Officer of Maersk's East Coast and Gulf terminal operating subsidiary. Previously, Mr. Nicola was employed for 12 years by Price Waterhouse as an auditor and business consultant. Mr. Nicola is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.

Organization Position Status
American Institute of Certified Public Accountants Board of Directors Current
K-Sea Transportation Partners L.P. Board of Directors Current
American Institute of Certified Public Accountants Member Current
K-Sea Transportation Partners L.P. Chief Financial Officer Current

Timothy J. Casey has served as our President, Chief Executive Officer and Director since July 2003. Mr. Casey has served as President, Chief Executive Officer and Director of EW Transportation LLC since April 1999. Mr. Casey is also a Vice Chairman for American Waterways Operators, a board member of The Seamen's Church Institute and a member of the American Bureau of Shipping.

Organization Position Status
Seamen's Church Institute Board Member Current
The American Waterways Operators Board Member Current
K-Sea Transportation Partners L.P. Board of Directors Current
The American Waterways Operators Vice Chairman Current
The State University of New York Master of Science In Transportation Former
Texas A&M University Bachelors of Arts In Business Administration, Finance Former
K-Sea Transportation Partners L.P. President, Chief Executive Officer and Director Current
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     KSP $11.00 -0.03 (-0.27% )
Average Volume 250,717
Shares Outstanding 19.13M
Market Cap 210.4M
Year High 24.59
Year Low 10.5215
Earnings Per Share 0.33
P/E Ratio 33.33
Dividend 1.80
Yield 16.36
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