Ultrapetrol (Bahamas) Limited is an industrial shipping company serving the marine transportation needs of clients in the geographic markets. The Company serves the shipping markets for grain, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market. It operates in three segments of the marine transportation industry: River Business Offshore Supply Business and Ocean Business. Its River Business, with 647 barges and 33 pushboats as of December 31, 2011, is the owner and operator of river barges and pushboats that transport dry bulk and liquid cargos through the Hidrovia Region of South America, a region with growing agricultural, forest and mineral related exports. On February 13, 2012, it sold an additional five new built jumbo dry barges to the same third party. In May 2012, the Company announced the sale of 14 wet and dry barges. In July 2012, it sold 14 wet and dry barges to a third party in Colombia.