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The following is an excerpt from a S-1 SEC Filing, filed by TRAILER BRIDGE INC on 5/30/1997.

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PROSPECTUS SUMMARY

The following summary is qualified in its entirety by the more detailed information and the financial statements and notes thereto appearing elsewhere in this Prospectus. Except as otherwise specified, all information in this Prospectus assumes (i) a 20,000-for-one split of the shares of Common Stock and (ii) no exercise of the Underwriters' over- allotment option. See "Underwriting."

The Company

Trailer Bridge, headquartered in Jacksonville, Florida, is an integrated trucking and marine freight carrier that currently provides truckload freight transportation primarily between the continental U.S. and Puerto Rico. Founded in 1991 by transportation pioneer Malcom P. McLean, the Company combines an efficient and dedicated motor carrier with a low cost barge and tug marine transportation system. Trailer Bridge is the only company to operate marine vessels fully configured to carry 48' and 53' long, 102" wide, "high-cube" trailers. This configuration enables the Company to achieve equipment utilization rates and other operating efficiencies not readily available to traditional ocean carriers that primarily use smaller capacity equipment, such as 40' containers. The Company believes that as a result of these and other efficiencies, its total unit costs per mile are the lowest of any carrier operating between the U.S. and Puerto Rico.

Trailer Bridge intends to achieve significant growth by providing the lowest cost freight transportation service to markets well suited to its high-cube integrated truckload and marine freight system. Based on volume and pricing data, the Company believes there are a number of markets in which the Company's unique transportation system can provide superior full load service at a significant cost advantage over existing modes of truckload and rail intermodal transportation.

Trailer Bridge's differentiated service quickly gained the acceptance of U.S. to Puerto Rico shippers, leading to rapid growth and high equipment utilization. In 1993, the Company's first full year of operation, Trailer Bridge achieved a 93% outbound (U.S. to Puerto Rico) vessel utilization rate and captured 5% of the U.S. to Puerto Rico marine freight market. In response to the rapid market share gains experienced by Trailer Bridge, in 1996 the Company increased its vessel capacity by 56% by inserting midsections ("mid-bodies") into its two existing barges, increasing the capacity of each barge from 266 to 416 48' equivalent truckload units.

Trailer Bridge will increase its vessel capacity by an additional 56% in late 1997 and early 1998 when it takes delivery of two 408' long container carrying barges designed specifically for the Company's integrated truckload marine transportation system and bearing the Company's "Triplestack Box Carrier/TM/" trade name. The Triplestack Box Carriers/TM/ are versatile, low-draft vessels that have a capacity of 213 53' containers, stacked three-high on a single deck. Construction of these two vessels began in March 1997 and, upon their completion, they are expected to be deployed in the Company's existing Puerto Rico freight operation. Trailer Bridge also intends to contract for the construction of three additional Triplestack Box Carriers/TM/ which it intends to deploy in coastwise service between New York and Florida. The Company also intends to investigate other marine markets which are well suited for its unique, cost-efficient transportation service, such as from the continental U.S. to Hawaii or Alaska. Management believes that shippers' ongoing attempts to reduce distribution costs have resulted in a number of trends that provide significant growth opportunities for low-cost freight cargo companies such as Trailer Bridge. These trends include (i) core carrier consolidation in which shippers "partner" with a small base of carriers, (ii) intermodalism, as shippers shift between transport sectors, and (iii) logistics outsourcing.

Management believes that the Company's principal competitive strengths are:

Significant Operating Cost Advantage. Trailer Bridge believes it is the lowest cost provider of freight transportation between the U.S. and Puerto Rico. Lower overall operating costs are achieved through significantly higher equipment utilization and lower marine linehaul costs than those of traditional ocean carriers. The Company's inland trucking operation achieves significantly higher equipment utilization and lower unit trucking costs by using 48' and 53' high-cube trailers. These trailers provide customers with over 50% more interior capacity than 40' marine containers but with similar inland trucking costs. The Company's marine system uses towed ocean-going barges instead of self-propelled container ships to deliver equivalent units of capacity at significantly lower capital and operating costs.

Domestic Truckload Operations. The Company is the only carrier using a fleet of company-owned and leased tractors and high-cube dry van trailers to provide transportation services between the continental U.S. and Puerto Rico. By using high-cube equipment, the mainstay of the domestic truckload industry, and a centralized dispatch system, the Company can more effectively compete for and obtain domestic non-Puerto Rico truckload freight while repositioning equipment for Puerto Rico shipments. As a result, the Company operates with lower empty miles and higher equipment utilization than its competitors in the Puerto Rico trade.

Centralized Operation in Strategic Location. Trailer Bridge operates a centralized truckload operation from its headquarters in Jacksonville. Because approximately 70% of the Company's truckload freight is dispatched through Jacksonville on a regular schedule to meet weekly barge sailings to Puerto Rico, the Company is able to achieve maintenance and other operating efficiencies and higher driver retention. Additionally, the Company's centralized Jacksonville headquarters is strategically located near key southern rail and highway endpoints which connect U.S. cities to Puerto Rico and other Caribbean points.

Emphasis on U.S. Domestic Ocean Trade. The Company will continue to concentrate its marine operations in markets protected by the Jones Act. The Jones Act prevents foreign-built or foreign-crewed vessels from competing in ocean trade between ports in the U.S., including the non- contiguous areas of Puerto Rico, Alaska, Hawaii and Guam.

Experienced Management Team. The Company's officers and directors have extensive experience in the transportation industry, including an average of over five years with the Company. The scope of management experience at Trailer Bridge is well balanced between both trucking and marine transportation.

Trailer Bridge's strategy for continuing its profitable growth includes
(i) increasing capacity in its Puerto Rico service by 56% with the addition of two new barges called Triplestack Box Carriers/TM/ designed specifically for the Company to carry 53' containers, (ii) initiating a new coastwise marine transportation system offering twice-weekly service from New York to Florida utilizing three Triplestack Box Carriers/TM/ to be built in 1998, and (iii) initiating marine service to other Jones Act protected markets such as Hawaii and Alaska and other offshore markets.

Trailer Bridge was incorporated under the laws of Delaware in August 1991. The Company's headquarters is located at 9550 Regency Square Blvd, Jacksonville, Florida 32225, and its telephone number is (800) 554-1589.

The Offering

Common Stock offered hereby . . . . . . . . . . . ____________ shares

Common Stock to be outstanding
after the offering . . . . . . . . . . . . . . . ____________ shares (1)

Use of Proceeds . . . . . . . . . . . . . . . . . To purchase revenue equipment, fund a dividend to existing stockholders, reduce indebtedness and increase working capital. See "Use of Proceeds."

Proposed Nasdaq National Market Symbol . . . . . TRBR

(1) Excludes 1,000,000 shares of Common Stock reserved for issuance to employees under the Company's Incentive Stock Plan (of which options to purchase 600,000 shares at the initial public offering price have been granted, subject to consummation of the offering). See "Management - Incentive Stock Plan."