~~FINANCIAL~~ ~~INFORMATION~~UNITED ~~PAGE~~STATES SECURITIES ~~----~~AND ~~FINANCIAL~~EXCHANGE ~~STATEMENTS Condensed Consolidated Statements of Operations for the one month and seven months ended July 31~~COMMISSION WASHINGTON, ~~2000~~D.C. ~~(unaudited)~~20549 FORM ~~3 Condensed Consolidated Balance Sheets~~ 8- July 31, 2000 and December 31, 1999 (unaudited) 4 Condensed Consolidated Statements of Changes in Shareholders' Equity for the seven months ended July 31, 2000 and for the year ended December 31, 1999 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the seven months ended July 31, 2000 and 1999 (unaudited) 6 Notes to Condensed Consolidated Financial Statements 7-11K

~~For~~ ~~the~~Current ~~For~~Report ~~the~~to ~~Month~~Section ~~Seven~~13 ~~Months~~or ~~Ended Ended July 31, July 31, 2000 2000 -------------------- ----------------- Revenues: Voyage revenues.......... $ 20,419 $ 109,356 Other operating revenues. 1,835~~ 15,736 ------------------ ----------------- 22,254 125,092 ------------------ ----------------- Operating expenses: Vessel and voyage........ 17,736 109,982 Depreciation and amortiza- tion...................... 1,331 8,885 General and administrative.. 1,510 9,507 ------------------ ----------------- 20,577 128,374 ------------------ ----------------- Operating income (~~loss~~d)~~.......~~ ~~1,677~~of ~~(3,282)~~the Securities Other income (expenses): Interest expense............ (213) (1,727) Interest income........... 177 914 Minority Interest........... 73 467 ------------------ ----------------- Net other expenses............ 37 (346) ------------------ ----------------- Income (loss) before income taxes and ~~extraordinary~~Exchange ~~item~~Act 1,714 (3,628) (Provision) benefit for income taxes....................... (600) 1,049 ------------------ ----------------- Income (loss) before extraordinary item.......... 1,114 (2,579) Extraordinary income from extinguishment of ~~debt,~~1934 Date ~~net~~ of ~~income~~Report ~~taxes~~(Date of ~~$352.....~~Earliest --Event ~~654 ------------------ ----------------- Net income (loss~~Reported)~~............. $ 1,114 $ (1,925) ================== ================= Basic earnings per common share~~: ~~Income~~November ~~(loss) before extraordinary item.......... .18 (.42) Extraordinary income~~__, ~~net~~2000 MARINE ofTRANSPORT ~~income taxes................ -- .10 ------------------ ----------------- Net income~~ CORPORATION (~~loss).............~~Exact $name ~~.18 $ (.32) ================== ================= Diluted earnings per common share: Income (loss) before extraordinary item.......... .18 (.42) Extraordinary income, net~~ of ~~income~~registrant ~~taxes................~~as --specified ~~.10~~in ~~------------------~~its ~~----------------- Net income (loss~~charter)~~.............~~ COMMISSION $FILE ~~.18 $ (.32) ================== =================~~NUMBER 000-11573

~~July~~DELAWARE ~~31, 2000 December 31,~~ (~~Unaudited)~~State ~~1999~~or (1) --------------- ---------------- ASSETS Current assets: Cash and cash equivalents............................... $ 7,394 $ 4,658 Receivables, less allowances of $357 in 2000 and $193 in 1999...................................................... 21,899 19,886 Income tax receivable................................... 581 -- Prepaid expenses and other ~~current~~jurisdiction ~~assets...............~~incorporation ~~3,369~~or 4,482 --------------- ---------------- Total current assets...................................... 35,521 29,026 Restricted cash...... .................................... 4,000 -- Marketable securities and cash held in capital construction fund...................................................... 4,448 4,125 Vessels and other property, .............................. 129,687 128,784 Less: accumulated depreciation and amortization........... (80,720organization) ~~(75,498)~~ 13-~~--------------~~2625280 ~~---------------- Vessels and other property-net~~(I.R.S.~~.......................~~ ~~48,967~~Employer ~~53,286~~Identification ~~Vessel drydocking costs~~No................................... 7,769 8,643 Note receivable........................................... 9,000 9,000 Other assets and deferred charges......................... 5,650 6,769 Goodwill, net............................................. 10,685 11,016 --------------- ----------------- TOTAL ASSETS.............................................. $ 126,040 $ 121,865 =============== ================ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable........................................ $ 18,317 $ 16,824 Accrued income taxes.................................... -- 94 Accrued liabilities..................................... 2,501 1,971 Current portion of debt................................. 5,810 5,999 --------------- ---------------- Total current liabilities................................. 26,628 24,888 Advance time charter revenues and other liabilities....... 1,491 675 Deferred gain on sale of vessels.......................... 34,572 17,790 Deferred income taxes..................................... 19,894 20,854 Long-term debt............................................ 27,699 40,214 Shareholders' equity...................................... 15,756 17,444 --------------- ---------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY................ $ 126,040 $ 121,865 =============== ================)

~~Common~~ ~~Stock~~1200 ~~-------------------------~~HARBOR Accumulated Retained Other Other Capital Earnings Comprehensive Comprehensive Shares Amount Surplus (Deficit) Income Income --------- ---------- ------------ ------------- -------------- ------------- Balance as of December 31BOULEVARD,~~1998~~ ~~6,555 $3,277 $25,461 $(11,996) $(51) Comprehensive income: Net income (loss) 1,624 $1,624 Net unrealized gain (loss) on securities, net of tax benefit of $39 (149) (149)~~ C-~~----------- Comprehensive income $1~~901,~~475 ============ ------------------------------------------------------------------------- Balance as of December 31~~ WEEHAWKEN,~~1999~~ ~~6,555~~NJ ~~3,277 25,461 (10,372) (200) Comprehensive income: Net income (loss) (1,925) (1,925) Net unrealized gain (loss) on securities, net of tax benefit 104 104~~ 07082-~~----------- Comprehensive income $~~0901 (~~1,821)~~Address ~~============ Issuance~~ of ~~restricted~~principal ~~stock~~executive ~~awards 53 265 Amortization of deferred compensation ========== ========== =========== ============ ============= Balance at July 31, 2000 6,555 $ 3,330 $ 25,726 $ (12,297~~offices) $(96) ========== ========== =========== ============ ============= Deferred Treasury Compensation Stock Total ------------ ---------- ----------- Balance as of December 31,1998 $ ----- $(722) $ 15,969 Comprehensive income: Net income (loss) 1,624 Net unrealized gain (loss) on securities, net of tax benefit of $39 (149) Comprehensive income ------------------------------------------ Balance as of December 31,1999 ----- (722) 17,444 Comprehensive income: Net income (loss) (1,925) Net unrealized gain (loss) on securities, net of tax benefit 104 Comprehensive income Issuance of restricted stock awards (318) Amortization of deferred compensation 133 133 ========== ======== =========== Balance at July 31, 2000 $ (185) $(722) $ 15,756 ========== ======== ===========

~~CASH~~ ~~FLOW~~Registrant's ~~PROVIDED~~telephone ~~(USED) BY OPERATING ACTIVITIES: Net cash provided by operating activities $ 25~~number,~~162~~ ~~CASH~~including ~~FLOW~~area ~~PROVIDED~~code (USED) BY INVESTING ACTIVITIES: Additions to vessels and other property (1,752) Increase in restricted cash (4,000) Proceeds and interest received and reinvested in Capital Construction Fund (220) Additions to vessel drydocking costs (3,750) 201-330-------------- Net cash provided (used ) by investing activities (9,722) --------------- CASH FLOW PROVIDED (USED) BY FINANCING ACTIVITIES: Payment of long-term debt (12,704) --------------- Net cash provided (used ) by financing activities (12,704) --------------- Increase (decrease) in cash and cash equivalents 2,736 Cash and cash equivalents at beginning of period 4,658 --------------- Cash and cash equivalents at end of period $ 7,394 ===============0200

~~Energy~~ITEM ~~and~~5. OTHER SEVEN MONTHS ENDED JULY 31, Management Chemicals Total 2000 ---------------------------------------------- Total revenues $ 12,162 $112,930 $125,092 Vessel and voyage expenses 6,497 103,476 109,973 Depreciation and amortization expense 1,516 7,369 8,885 ---------------------------------------------- Segment income(loss) $ 4,144 $ 2,085 6,234 ================================= General & administrative expenses (9,516) Minority interest 467 Interest expense, net (813) -------------- Consolidated loss before income taxes and extraordinary item $ (3,628) ============== Total operating assets $ 12,321 $ 91,413 $103,734 Corporate assets -- -- $ 22,306 ---------------------------------------------- Total assets $ 12,321 $ 91,413 $126,040 ==============================================EVENTS

On November 15, 2000 the Registrant issued the following press release:

Contact:

Mark Filanowski
Marine Transport Corporation
201-330-0200 EXT. 203

William W. Galvin III
The Galvin Partnership
203-618-9800

For Immediate Release

Marine Transport Corporation
Engages ING Barings To Explore Strategic Alternatives

Weehawken, NJ, November 15, 2000 -- Marine Transport Corporation (“MTC”), (Nasdaq: MTLX) today announced that the Board of Directors had engaged ING Barings LLC to explore strategic alternatives and opportunities that may be available to the Company to maximize shareholder value.

Commenting on the announcement, Richard du Moulin, Chairman and Chief Executive Officer, said, “As previously announced, our performance for the third quarter of 2000 reflects strong demand for our basic services. This environment is the right time to consider long term opportunities which are in the best interests of our shareholders.”

Mr. du Moulin cautioned, “Over the past several months the company has explored various strategic combinations and opportunities, but at this point we are not committed to any particular path. Ultimately, the Board of Directors may decide that the goal of enhancing shareholder value would be better served by continued organic growth of the Company.”

Marine Transport Corporation is a U.S.-based supplier of marine transportation services. MTC’s ocean fleet numbers 50 ships and six work boats, making it one of the largest U.S.- based fleets of ocean going vessels. MTC’s core business is industrial shipping based on long-term alliances, some as long as 50 years, with leading chemical and energy customers. MTC’s Houston-based operation, MTL Petrolink, provides crude oil lightering services in the Gulf of Mexico. MTC, as an operator with International Safety Management (ISM) certification and in pursuit of ISO 14000 certification, is able to provide services to support U.S. and international shipping expansion for quality-conscious commercial and U.S. government customers.

This news release contains certain forward-looking statements. These statements are based on management's current expectations and observations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additional information concerning these statements and other matters is contained in the Company's periodic filings with the Securities and Exchange Commission.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 15, 2000

Marine Transport Corporation
(Registrant)

By: /s/ Richard T. du Moulin
Richard T. du Moulin
President and Chief Executive Officer

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