Ultrapetrol (Bahamas) Ltd. (ULTRF)

Overview

Ultrapetrol (Bahamas) Limited is an industrial shipping company that specializes in providing marine transportation services across various regions including South America, Europe, Central America, North America, and Asia. Founded in 1992, the company operates under three main segments: River Business, Offshore Supply Business, and Ocean Business, each catering to specific market needs and sectors including petroleum, agricultural, and mining industries. Ultrapetrol is headquartered in Nassau, the Bahamas and functions as a subsidiary of Sparrow Capital Investments Ltd.

Products and Services

• River Business:

  This segment focuses on the operation of dry and tanker barges as well as push boats predominantly in the Hidrovia region of South America. Its dry barges are used for transporting a diverse range of cargoes such as agricultural and forestry products, iron ore, among others, while its tanker barges are dedicated to carrying liquid goods like petroleum products and vegetable oils. As of the end of 2015, the River Business segment boasted a fleet of 681 barges with a combined deadweight tonnage (DWT) of approximately 1.3 million and 34 push boats, highlighting its significant capacity in riverine logistics.

• Offshore Supply Business:

  This segment provides logistical and transportation services specifically designed for the offshore petroleum exploration and production industry. Ultrapetrol's vessels in this segment are equipped to transport a wide variety of supplies needed by drilling rigs and platforms, including but not limited to containerized equipment, drill casings, pipes, heavy loads, fuel, water, drilling fluids, and bulk cement. The fleet comprises 13 platform supply vessels and 1 remotely operated vehicle, showcasing the company's commitment to supporting the offshore oil sector with comprehensive supply solutions.

• Ocean Business:

  Under this segment, Ultrapetrol operates oceangoing vessels that serve to transport petroleum products. Additionally, it runs a container line service within the Argentine cabotage trade, facilitating the movement of goods along the coastal waters of Argentina. This division allows Ultrapetrol to extend its shipping services to the oceanic domain, catering to the broader transportation requirements of its clients in the petroleum industry as well as those requiring containerized shipping solutions.