EXHIBIT 99.5

                               CORROSION OVERVIEW
                      For Earnings Release Conference Call
                             Thursday, July 25, 2002


At this time, I'll provide an overview of our barge corrosion situation. First,
it's important for you to understand a little bit of information pertaining to
barges. The corrosion issue we are concerned with does not involve the exterior
portion of the barge which comes in contact with the water. It involves the
internal area of a barge referred to as the void spaces.

In simple terms, the void spaces of a barge are the empty areas, which are
created between the inner and outer walls of a barge. They contain the
structural support of a barge. On the deck of the barge, above each void area,
there is at least one man-way hole with a sealed hatch cover. When the hatch is
open, the man-way leads to a ladder so the barge operators can enter and exit
the void area. Barge operational personnel enter this manhole in order to
inspect the voids from time to time. The hatch is designed to be tightened down
during normal barge operations.

At this point, it is important to note that the void areas of the barges we
build are not designed to carry liquids, dry commodities or any type of foreign
materials. In marine terminology, a liquid-carrying compartment is normally
referred to as a ballast tank, a fuel tank or a potable water tank. We do not
install piping systems into a void space for the purpose of pumping liquids in
or out of the space.

Since there is a temperature difference between the inside of the barge and the
outside atmosphere, we anticipate condensation will develop in void areas. When
we develop our specifications for a coating, we expect the normal barge
operating conditions to be moist and humid. The coating is not designed to
provide a long-term barrier when it is immersed in water like you would find in
a ballast tank.

Before every new barge is shipped from our barge facility, we close the hatch
cover, ensure the seal is tight and perform an air test to certify the space is
watertight. In other words, when the barge leaves our facility, the void areas
are sealed tight.

Now, I need to provide you with a little bit of background information on our
selection of coatings.

In the early 80's, the old line coating products which contained lead and
chromate were severely restricted by federal mandates because of environmental
and safety concerns. The coatings industry worked to develop and match new
coating products with industrial manufacturers specific needs. We created a
coatings department and developed a series of testing procedures.

During the late 80's and early 90's, our barge personnel selected a coating
product referred to as a "wax-based product" made from petroleum by-products
that is dissolved in solvents. This product performed well as a coating until we
started having some environmental challenges.




During the early 90's, the coatings manufacturers developed a variety of
"water-based products" which were very well received by the market because they
were safe and environmentally friendly.

In early 1997, our barge management and technical personnel, in cooperation with
a coatings manufacturer, selected a water-based, wax-type coatings product named
"Duro-Seal." The wax in Duro-Seal was derived from organic sources rather than
from petrochemical derivatives. Duro-Seal appeared to be environmentally
friendly and safe. As part of our approval process, Duro-Seal was tested by two
independent labs. Duro-Seal was originally marketed by a company named
International Zinc who was eventually acquired by Jotun Paints.

Since 1997, when we started offering Duro-Seal, we have built approximately
3,350 hopper barges and 200 tank barges. Twenty percent of the tank barges we
have produced since '97 were coated with Duro-Seal. Sixty five percent of the
hopper barges were coated with Duro-Seal. Twelve percent of the hopper barges
were coated with a variety of other products. It is very interesting to note
that a few of our hopper barge customers purchase barges without an internal
void coating. In fact, twenty two percent of the hopper barges we have produced
since '97 were not even coated on the inside of the void spaces. For a point of
reference, our barges have a six-month warranty.

Last winter, we were contacted by one of our tank barge customers, Florida
Marine Transporters, Inc., concerning a corrosion issue and we sent an
inspection team to review this situation. The coating supplier's technical
people also inspected the barges. The inspection crew noted an abnormal amount
of sludge type residue inside the void area of the barges, along with the
remnants of a water line which ranged from 2 to 8 inches up the walls of the
barges. The water lines were alarming to us because it meant there must have
been water present in some of the void areas. After further testing, we
concluded there had been both seawater and riverwater in some of the voids,
combined with a sludge-type material. The inspectors found a substantial amount
of corrosion occurring in the floors of the Florida Marine Transporters, Inc.
barges where the water and sludge had been present. The inspectors also noted
that the coating above the water line was in good condition. The coating in the
other areas of the barges where the environment was moist and humid was also in
good condition.

We asked the coating company representatives to give us their technical
diagnosis of the situation. They specifically pointed to the seawater and sludge
as the cause of the corrosion in the void spaces. They also highlighted the fact
that in void spaces with normal moist and humid conditions, the Duro-Seal
coating was still intact and performing well.

The focus of the dispute between Trinity and Florida Marine Transporters, Inc.
is centered on whether the coating is the cause of the corrosion or whether the
corrosion is caused by the abnormal environment within the void spaces of the
barges.

In December 2001, when Florida Marine Transporters, Inc. contacted us about
their corrosion situation, they told us they had identified a specific type of
corrosion in their barges, which was caused by microorganisms. This type of
corrosion is referred to as "M.I.C." or "microbiologically influenced
corrosion." In simple terms, this is a type of corrosion, which occurs when
microorganisms or bacteria form in stagnant water and initiate or accelerate






corrosion. This type of corrosion is also known as biological corrosion or
bio-corrosion. Bio-corrosion is not a new phenomenon.

In the Florida Marine Transporters, Inc. case, our customer claims that
Duro-Seal coating is acting as a food source to the microorganisms and is a
contributing factor to the corrosion which is initiated by the microorganisms.
They were specifically concerned about pitting inside the void spaces, which is
a localized type of corrosion. When we heard this claim, we contacted our
coatings supplier and requested that they respond to the claim. Jotun Paints,
Inc., the company which supplies us with Duro-Seal, initiated a testing program
at a very reputable independent testing lab named Southwest Research Institute,
and they have issued a report stating Duro-Seal is not a food source to
microorganisms which influence corrosion. To ensure this information was
accurate, we also contacted another lab, Altran, to test Duro-Seal to determine
if it is a food source. The second lab confirmed the Southwest Research
Institute's results that Duro-Seal is not a food source.

During the past six months, we have assembled a cross-sectional group of
corrosion experts with PhD's ranging from microbiology to metallurgy to help us
understand the issues surrounding barge corrosion. This team of experts has over
200 years of combined corrosion experience.

We have initiated a comprehensive barge inspection program consisting of on-site
inspections of a variety of barges of all ages with various types of coating
system. We are also inspecting barges that don't have coatings applied to the
void spaces. To date, we have visually inspected over 4.3 million square feet of
barge void spaces.

During our investigation, we have found two consistent conditions: First, every
time our inspectors have found a significant amount of corrosion in a barge,
regardless of the coating type, they have also noted that the barge had or has
corrosion causing conditions. We are defining "corrosion causing conditions" as
some form of stagnant water, combined with other types of foreign materials
and/or sludge. To be more specific, we have found some degree of corrosion
occurring, regardless of coating type, in every void space with these
conditions. Duro-Seal coated void spaces are not the only spaces where corrosion
is occurring. Second, our inspectors have found that all coatings, including
Duro-Seal are intact within every void space with normal moist and humid
conditions.

Our corrosion experts are very confident there is a direct correlation between
corrosion and the environmental condition, which exist in the void spaces. The
longer the water and other elements have been there, the more severe the
corrosion is.

Our inspections have also revealed there is a wide disparity in the
environmental condition which exist within the void spaces. Our inspectors found
cases where in addition to water, a variety of debris such as trash, silt and
sludge existed in the void spaces. For instance, our inspectors have found
sprouting wheat growing in barges, soybeans, and in an extreme case, they
discovered that human waste in a void.

Our consulting experts agree that the rate at which corrosion occurs is directly
related to the severity of the environmental condition, which exist in the void
space, rather than the type of coating applied. More specifically, there is
consensus amongst our experts that localized pitting can be correlated directly
to the presence of standing water in the affected void space. In





addition, the severity and rate of the pitting increases dramatically if the
standing water is brackish or seawater.

Water and other foreign materials, including silt and sludge can enter into the
void spaces through the man-way or a damaged section of the hull. Our inspectors
have found in most cases, that the man-ways have been left open, the man-ways
have been damaged and will not close, or water is manually pumped into the barge
void space for ballast or other purposes.

The discharge of water and other substances from a barge void space back into
the river is often governed by both federal and state regulations. We believe it
is in the barge owners and operators best interest to keep their void areas as
clean as possible and to secure the hatch covers on the man-ways. As I stated
earlier, when the newly manufactured barges leave our facility, we take extra
steps to ensure the void spaces are sealed and water tight.

It is our position that it is unrealistic for a barge operator or owner to hold
the barge builder accountable for abnormal corrosion, which is caused by
standing water and other substances. We do not agree with the theory that it is
an acceptable industry practice to allow external water and other foreign
materials to accumulate in void spaces and then to hold the barge manufacturer
responsible for the resulting corrosion. Barge manufacturers do not have any
control over the liquids, sludge, and debris which are allowed to enter into the
void spaces. This scenario is similar to someone who purchases a convertible
automobile and continuously leaves the top down during rainstorms and then
expects the manufacturer to be responsible.

Because corrosion has always been a part of the marine industry, most barge
owners establish acceptable maintenance standards for their respective barges
and maintain their equipment in accordance with those standards. Since we can
not control the wide variety of foreign materials being introduced into, and
exposed to, the barge void areas, we will not assume any responsibility for
coating failures or corrosion which occur when there is water present in the
void areas or signs that water has been present.

In May, we put out a short press release pertaining to the Florida Marine
Transporters, Inc. litigation. In our release, we stated that our consulting
experts are convinced the corrosion which has occurred in the Florida Marine
Transporters, Inc. barges is a result of the seawater which was allowed to
remain inside the void space for an extended period of time. The inspections and
testing we have performed since then reinforce our position.

If you would like more information and to see some photographs we have collected
about barge corrosion issues, you may go to a web site we have created at
www.bargecorrosion.com