NASSAU, Bahamas, Aug. 10, 2016 (GLOBE NEWSWIRE) -- Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR)
(“Ultrapetrol” or the “Company”) announced today that the publication of its unaudited second quarter 2016 results has been delayed
due to the ongoing restructuring negotiations as the Company has been required to devote a substantial portion of its personnel and
administrative resources, including the personnel of its accounting and financial reporting organization, to matters relating to
its restructuring negotiations in addition to its ongoing operations. The Company shall issue a new release once it has been able
to determine the exact date.
About Ultrapetrol
Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on
which it focuses. It serves the shipping markets for containers, grain and soy bean products, forest products, minerals, crude oil,
petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet
of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels. More
information on Ultrapetrol can be found at www.ultrapetrol.net.
Forward-Looking Language
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, our management's examination of historical operating trends, data contained in
our records and other data available from third parties. Although we believe that these assumptions were reasonable when made,
because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking statements include future operating or financial results; pending or
recent acquisitions, business strategy and expected capital spending or operating expenses, including dry docking and insurance
costs; general market conditions and trends, including charter rates, vessel values, and factors affecting vessel supply and
demand; our ability to obtain additional financing; our financial condition and liquidity, including our ability to obtain
financing in the future to fund capital expenditures, acquisitions and other general corporate activities; our expectations about
the availability of vessels to purchase, the time that it may take to construct new vessels, or vessels' useful lives; our
dependence upon the abilities and efforts of our management team; changes in governmental rules and regulations or actions taken by
regulatory authorities; adverse weather conditions that can affect production of the goods we transport and navigability of the
river system; the highly competitive nature of the oceangoing transportation industry; the loss of one or more key customers;
fluctuations in foreign exchange rates and devaluations; potential liability from future litigation; and other factors. Please see
our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and
uncertainties.
ULTR-G
Contact: The IGB Group Bryan Degnan 646-673-9701 bdegnan@igbir.com Or The IGB Group Leon Berman 212-477-8438 lberman@igbir.com
