Commercial Lines
American Commercial Lines Tightens Grain Contract Terms
American Commercial Lines Inc. (NASDAQ: ACLI) announced it has increased its ancillary charges for grain shipments, effective immediately. Gulf reconsignment charges, the fees assessed to shippers for changing the destination consignee on Gulf in-port moves, will rise from $300 to $500. ACL will also increase demurrage charges. At origin locations, the new terms include a load and release commitment of 3 days, with demurrage charges for days four and five at $200 per day and days six and beyond at $400 per day. At destination locations, ACL will increase demurrage charges to $500 per day after three free unloading days.
ACL Execs Satisfy Tax Withholding Obligations
American Commercial Lines Inc. (ACL) announced that shares of common stock granted to certain executives that vested on January 18, 2006 were withheld by the company to satisfy tax withholding obligations of these executives of the company. The withholding of shares is permitted in accordance with the terms of the American Commercial Lines Inc. Equity Award Plan for Employees, Officers and Directors and the American Commercial Lines Inc
ACL Launches JeffLabs
American Commercial Lines Inc. announced the formation of JeffLabs, a new business unit focusing on technology applications for the transportation industry. JeffLabs will build upon the strength of ACL's two major holdings, American Commercial Barge Line LLC and Jeffboat LLC. JeffLabs will focus initially on five key areas of opportunity: Safety, Logistics, Regulatory Reporting, Customer Service and Operational Efficiency.
ACL Sees 2Q Profits Tripled
American Commercial Lines reported that the company’s second- quarter profits nearly tripled on strong sales. The Jeffersonville-based company posted net income of $17.7m, compared with $6.03m during the same period a year ago. Sales increased 20 percent. The company announced last month it plans to hire 1,100 people over the next three years. (Source: Star report)
ACL Increasing Tank Barge Demurrage Charges
American Commercial Lines Inc. (ACL) has announced new demurrage terms for liquid shipments. ACL will increase per day demurrage charges by 15 percent. Commenting on the new terms, Mike Ryan, Senior Vice President Sales and Marketing, stated, "We are adjusting our demurrage charges for our tank barge fleet in response to the continued strong demand for liquid barging capacity. The value of these liquid units in the marketplace continues to increase and we need to keep pace with that value
ACL Opens Houston Headquarters
American Commercial Lines Inc. (ACL) opened its new Liquid Transportation Division Headquarters in Houston, Texas. The opening of the new regional headquarters, combined with ACL's recent announcement to build 30 new 30,000 barrel tank barges in 2008, begins the foundation for the Company's long-term strategy to increase liquid business from 24% to 40% of its total transportation revenue.
ACL Announces Three Year Agreement for Employees and Teamsters Local 89
American Commercial Lines Inc. announced that the company has secured a three year agreement for its shipyard employees with the General Drivers, Warehousemen & Helpers (Teamsters), Local Union No. 89. The three year agreement, which was ratified by over 95% of the voters, provides for first year wage increases ranging from 5% to 18% for various job positions resulting in an overall average wage increase of approximately 11%.
ACL Files Reorganization Plan
American Commercial Lines LLC and its affiliated debtors today filed their Joint Plan of Reorganization in the United States Bankruptcy Court, Southern District of Indiana, New Albany Division. ACL and its affiliated debtors, including American Commercial Barge Line LLC and Jeffboat LLC, filed for Chapter 11 protection on January 31, 2003. Richard L. Huber, Chairman and Chief Executive Officer of ACL said “This reorganization of ACL as a stand-alone company provides the best recovery to the
ACL Names VP of Investor Relations
American Commercial Lines Inc. has appointed David T. Parker to the position of Vice President of Investor Relations and Corporate Communications. Parker is responsible for facilitating ACL's communications with the investment community and for public relations. He also serves as the company's primary media contact.
ACL to Begin Transporting Canadian Crude Oil
American Commercial Lines (ACL) is pleased to announce that it will begin transporting crude oil by barge on the U.S. inland waterways for MEG Energy (U.S.) Inc. (MEG Energy), a subsidiary of the Canadian oil company MEG Energy Corp. Crude oil will arrive primarily via pipeline and will be transferred to barges at storage terminals located on the inland waterways for transport by ACL to the Gulf Coast. ACL is dedicating new tank barges built by its manufacturing division Jeffboat
Cat Marine Engines to Re-Power Six Tugboats
American Commercial Lines (ACL) select Cat® C280 marine engines for repowering six of their towboats. The first vessels being repowered are the MV J. Russel Flowers and the MV Thurston B. Morton. Cat dealer Whayne Power Systems is assisting with the repower project
Cat Marine Engines Chosen
American Commercial Lines (ACL) has selected Cat C280 marine engines for repowering six of their towboats. Bill Foster, ACL vice president Boat Maintenance, commented, "We are making significant investments in our fleet to improve reliability and performance
Elliott Bay Design Group Celebrates 25 Years
After a quarter of a century, EBDG leads the U.S. ferry market and begins a new journey as a unique employee-owned company. Elliott Bay Design Group (EBDG) celebrates its 25th anniversary and a successful first year following a management buyout by nearly half its employees
ACL to Haul for SeaRiver Maritime
American Commercial Lines Will Transport Petroleum Products by Inland Barge for SeaRiver Maritime Inc. American Commercial Lines (ACL) is pleased to announce that it has entered into an agreement with SeaRiver Maritime Inc., a marine affiliate of Exxon Mobil Corporation
ACL Expands Warehouse Space Shipping by Barge
American Commercial Lines Inc. (NASDAQ: ACLI) announced that they have entered into an industrial development agreement with CNW Resources of Naperville, Ill. CNW Resources is a provider of metallurgical, chemical and foundry products. Under the industrial development agreement
WESMAR Displaying their Biggest at WorkBoat Show
WESMAR will be displaying the largest bow thruster they produce at the annual International WorkBoat Show in New Orleans December 1-3, and Bob Sentz, Vice President of WESMAR’s Mechanical Division, said it is the largest system his division has ever sent to a trade show.
ACL Announces New Demurrage Terms
American Commercial Lines Inc. (ACL) announced new demurrage terms for its portfolio of dry products. Beginning April 1, 2011, the company will standardize demurrage charges for non-grain bulk and non-bulk dry product shipments. Shippers of these product lines will receive five free days (Sundays
O’Connell Joins Edoc as Regional Sales Manager
Edoc Systems Group Ltd., developers of Helm Marine Operations software, announced that Ged O’Connell will be joining the company as its new Regional Sales Manager. O’Connell, formerly the North American Sales Manager with Jeppesen, a Boeing Company
ACL Launches First in Tanker Barge Series
American Commercial Lines Inc. announced that it launched the first in a series of tanker barges to be constructed at its Jeffboat manufacturing facility through 2012 to replace retiring fleet capacity. The new barges will improve the age profile and quality of ACL's fleet.
ACL Appoints New Executives
American Commercial Lines (ACL) has relocated Bill Braman, Senior Vice President and Chief Operating Officer – Transportation Services, to Harahan, LA, where he will lead the field implementation of ACL’S new operating plan and scheduled service platform
American Commercial Lines Announces New Leadership
American Commercial Lines Inc. (ACL), one of the largest and most diversified inland marine transportation and service companies in the United States, announced today the appointments of Mark Knoy as President and Chief Executive Officer and David Huls as Senior Vice President and Chief
ACL Names SVP and COO
American Commercial Lines Inc. (ACL), one of the largest and most diversified inland marine transportation and service companies in the United States, announced today the appointment of Paul A. Tobin as Senior Vice President and Chief Operating Officer.
EBDG Becomes Employee-Owned Firm
Elliott Bay Design Group LLC (EBDG) announced that its management and employees have purchased the firm from its parent company, American Commercial Lines (ACL). The transaction closed on December 1, 2011. Following an internal business review
ACL Adds Eight Tank Barges
American Commercial Lines Expands Liquid Cargo Fleet With Purchase of Eight 20,000 Barrel Capacity Tank Barges. American Commercial Lines (ACL) today announced the purchase of eight 20,000 barrel capacity tank barges from SeaRiver Maritime Inc., a subsidiary of Exxon Mobil Corporation
Maersk Gains From US Military shipments
Maersk gains from US military's US$ 11.5 billion war shipments Maersk, owner of the world’s largest shipping line, has benefited the most from the U.S. military’s dependence on commercial lines, according to a report in 'Longshore & Shipping News'.