Exhibit 99.1

AMERICAN PETROLEUM TANKERS PARENT LLC ANNOUNCES PRELIMINARY FISCAL YEAR ENDED 2012 SELECTED RESULTS AND INTENTION TO REFINANCE

PLYMOUTH MEETING, PA – March 15, 2013 – American Petroleum Tankers Parent LLC (“APT” or the “Company”) today reported preliminary unaudited selected results for the fiscal year ended 2012 in conjunction with a proposed refinancing. The Company has not finalized its financial statement closing process for the fourth quarter and fiscal year ended 2012 and as a result, the information that follows is preliminary and based upon information available to the Company as of the date of this press release. During the course of that process, the Company may identify items that would require it to make adjustments, which may be material, to the amounts described below. As a result, the estimates and rates below constitute forward-looking statements and are subject to risks and uncertainties, including possible adjustments to the preliminary operating results. The Company is providing this preliminary information and certain financial metrics on a one-time basis only.

APT is contemplating $280 million of new senior secured credit facilities (“Credit Facilities”) consisting of a $10 million, 5-year revolving credit facility and a $270 million 6.5-year term loan. Proceeds from the new Credit Facilities would be used to redeem APT’s existing 10.25% first priority senior secured notes due 2015 (the “Notes”), including paying the redemption premium associated with the Notes redemption and paying fees and expenses associated with the transaction. Concurrent with entering into the Credit Facilities, all outstanding amounts under the $455.5 million second lien credit agreement with the Class A members of American Petroleum Tankers Holding LLC, as lenders, Blackstone Corporate Debt Administration L.L.C., as administrative agent, and The Bank of New York Mellon, as security agent (the “Sponsor Facility”) will be converted to equity of American Petroleum Tankers Holding LLC.

2012 revenues were approximately $94.8 million, with total operating expenses of approximately $64.7 million, resulting in operating income of approximately $30.1 million and Adjusted EBITDA of approximately $54.1 million. See below for a reconciliation of Adjusted EBITDA to operating income. Interest expense was approximately $80.2 million and derivative losses were approximately $0.2 million. The Company also recorded a one-time charge of approximately $1.5 million related to its application for government guaranteed financing under the U.S. Title XI Federal Ship Financing Program (“Title XI Program”), which was denied in November 2012. As a result of the foregoing factors, net loss was approximately $51.9 million for 2012. Comparisons to the prior year’s operating results are provided below.

The Company had approximately $61.1 million in cash at December 31, 2012. The net book value of our vessels and equipment was $645.6 million. Long term debt consisted of $258.0 million in Notes and $455.5 million for the Sponsor Facility. The book value of the equity was approximately $2.1 million. The Company did not have any capital expenditures in 2012.

Comparison of Year Ended December 31, 2012 Versus Year Ended December 31, 2011

Revenues

In 2012, vessel revenues were approximately $94.8 million compared to $106.3 million. This decrease is due to lower charter rates for the Empire State and Evergreen State. Overall utilization in 2012 was 99% based on 1,808 operating days and 1,830 ownership days while utilization in 2011 was 100% based on 1,825 operating days and 1,825 ownership days.

Our current customers are BP West Coast Products LLC, Shell Trading (U.S.) Company, an affiliate of Chevron Corporation, and the Military Sealift Command department of the U.S. Navy. For the year ended December 31, 2012, these four customers represented approximately 22%, 10%, 15% and 43% of our revenues. Marathon Petroleum Company LLC, a prior customer, accounted for 10% of our revenues in 2012.

Vessel Operating Expenses

In 2012, vessel operating expenses were approximately $35.4 million compared to $34.3 million in 2011. Vessel operating expenses increased in 2012 primarily due to higher crew and insurance expenses.

General and Administrative Expenses

General and administrative expenses increased to $2.8 million in 2012 from $2.2 million in 2011, due to higher legal and professional fees, including $0.3 million for litigation with the U.S. Department of Transportation’s Maritime Administration (“MarAd”) in connection with the Title XI Program.

Depreciation and Amortization

Depreciation expense increased to approximately $23.8 million in 2012 from $23.7 million in 2011. The change was due to a full year of software amortization in 2012.


The following information was filed by American Petroleum Tankers Parent Llc on Friday, March 15, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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