Business Description

4 THE COMPANY 4 Documents and Information Available on Website 4 BUSINESS AND PROPERTY 4 MARINE TRANSPORTATION 5 Marine Transportation Industry Fundamentals 6 Inland Tank Barge Industry 6 Coastal Tank Barge Industry 7 Competition in the Tank Barge Industry 7 Products Transported 8 Demand Drivers in the Tank Barge Industry 8 Marine Transportation Operations 9 Contracts and Customers 11 DISTRIBUTION AND SERVICES 12 Commercial and Industrial Operations 12 Commercial and Industrial Customers 13 Commercial and Industrial Competitive Conditions 14 Power Generation Operations 14 Power Generation Customers 14 Power Generation Competitive Conditions 14 Oil and Gas Operations 14 Oil and Gas Customers 15 Oil and Gas Competitive Conditions 15 Governmental Regulations 15 Environmental Regulations 16 Human Capital 18 Information about the Company’s Executive Officers 20