News Release

TECO Transport unveils new subsidiary identities

TAMPA, January 28, 2002

TECO Energy’s TECO Transport subsidiary has unveiled new identities for its three subsidiaries:

  • TECO Barge Line (formerly Mid-South Towing)
    Based in Metropolis, Illinois, this full-service river barge line transports dry bulk and break products on the inland waterway system.
  • TECO Ocean Shipping (formerly Gulfcoast Transit)
    Based in Tampa, Florida, this business handles all of TECO Transport’s global blue water transportation activities. It is the largest dry bulk ocean transport company operating under the U.S. flag.
  • TECO Bulk Terminal (formerly Electro-Coal Transfer)
    Based in Davant, Louisiana, this terminal and storage transfer operation handles bulk commodities at the mouth of the Mississippi River, including coal, petroleum coke, phosphate and iron ore.

TECO Transport President Jeff Rankin said, “These new identities more accurately reflect the activities of our businesses, which over the past 40 years have grown into a worldwide marine transport organization.”

Rankin added that because of its diversity of subsidiaries, TECO Transport is the only U.S. company capable of moving bulk products from source to point-of-use.

TECO Transport is a wholly owned subsidiary of TECO Energy, Inc. (NYSE: TE), a $2-billion revenue energy holding company included in the S&P 500 Index. The company’s other businesses include Tampa Electric, Peoples Gas System, TECO Power Services, TECO Coal, TECO Coalbed Methane and TECO Solutions.