Maritrans Announces Redelivery of Sixth Double-Hull Barge Rebuild; 69% of Fleet Double-Hulled Compared to Industry Average of 45

Maritrans Inc. (NYSE:TUG), a leading U.S. flag marine
petroleum transportation company, today announced the redelivery of
the M209 double-hull barge and her married tug ENTERPRISE. Using its
patented process, Maritrans has now rebuilt six barges to double-hull
OPA-compliant standards. The Company also took advantage of the time
out of service to lengthen the M209 to add approximately 30,000
barrels of cargo-carrying capacity, an increase of approximately 17%.
With the completion of the rebuild of the M209, 69% of Maritrans'
aggregate fleet capacity is now double-hulled, compared to the Jones
Act fleet average of 45%. Following the redelivery of the M209 and the
ENTERPRISE, the unit has entered service for Valero Marketing and
Supply Company transporting refined petroleum products in the U.S.
Gulf to Florida market.
   Jonathan Whitworth, Chief Executive Officer of Maritrans
commented, "We are pleased to have received redelivery of the M209 and
continue to maintain a significant lead over peers in operating an OPA
compliant double-hull fleet. Maritrans' proactive approach to
rebuilding our fleet while delivering strong financial results
underscores Maritrans' leadership in the Jones Act industry as well as
our fleet's significant earnings power. Going forward, as we continue
to invest in our fleet for the benefit of customers and stockholders,
we remain focused on delivering profitable growth by executing on our
strategic initiatives."

   ABOUT MARITRANS

   Maritrans Inc. is a U.S. based company with a 77-year commitment
to building and operating petroleum transport vessels for the U.S.
domestic trade. With 15 units, Maritrans has the largest fleet in its
size category and one of the largest serving the U.S. coastwise trade.
The fleet consists of four oil tankers and eleven oceangoing married
tug/barge units with an aggregate fleet capacity of approximately 3.6
million barrels, of which 69 percent is double-hulled. Maritrans has
two primary areas of focus: transporting refined products in the Gulf
of Mexico to growth areas such as Florida and supplying Philadelphia
area refineries with crude oil lightering from large foreign tankers.
Maritrans is headquartered in Tampa, Florida, and maintains an office
in the Philadelphia area.

   SAFE HARBOR STATEMENT

   The information in this news release includes certain
forward-looking statements. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual results,
levels of activity, growth, performance, earnings per share or
achievements to be materially different from those expressed in or
implied by such forward-looking statements. These statements are based
on assumptions the Company believes are reasonable, but a variety of
factors could cause the Company's actual results, goals, targets or
objectives to differ materially from those contemplated, projected,
forecast, estimated, anticipated, planned or budgeted. Such factors
include, among others, changes in oil companies' decisions as to the
type and origination point of the crude that it processes, changes in
the amount of imported petroleum products, competition for marine
transportation, domestic oil consumption, the continuation of federal
law restricting United States point-to-point maritime shipping to U.S.
vessels (the Jones Act), the timing and success of our double-hull
rebuilding program, demand for petroleum products, future spot market
rates, demand for our services, levels of foreign imports, changes in
interest rates, the effect of war or terrorist activities and the
general financial, economic, environmental and regulatory conditions
affecting the oil and marine transportation industry in general. The
Company is under no duty to update any of these forward-looking
statements after the date of this release to conform such statements
to actual results.