UABL River Barges

completed

The project consists of the expansion of UABL''s (the "Company") river barge and terminal operations on the Paraná and Paraguay Rivers (the "Hidrovia"). The Hidrovia starts near Buenos Aires, between Argentina and Uruguay, and heads north to form over 3,000 km of waterways. It connects Bolivia, Brazil, Paraguay, Argentina and Uruguay. While of a size equivalent to the Mississippi River, the Hidrovia suffers from a lack of infrastructure and its potential is only beginning to be tapped. The Hidrovia is used for transporting petroleum products northward to upstream destinations in Argentina, Paraguay, Bolivia and Brazil, and for movement of dry cargo (including soy, industrial commodities such as limestone, and forest products) downriver where transfers to ocean-going vessels can be made for export. UABL was formed in October 2000 by the merger of the barge operations of Ultrapetrol Bahamas Ltd. and the operations of American Commercial Lines LLC, one of the biggest U.S. river shipping companies.