Midland Leases $18M in Barges

Monday, January 14, 2002
Cincinnati-based Midland Enterprises, which operates a fleet of barges, towboats and tugboats, has leased more than $18 million in new equipment from Firstar Bank during this past year. Midland worked with Firstar's Equipment Finance group to replace and expand its fleet of barges, which transport bulk commodities, a major portion of which is coal, principally on the Ohio and Mississippi Rivers and the Gulf Intracoastal Waterways.

Bob Faillo, president of Midland Enterprises, said, "I've admired Firstar's persistence in getting our business. They've consistently called on us and provided a creative lease structure that enabled us to maintain an edge in a very competitive business environment." Wayne Shircliff, Firstar Bank's executive vice president and regional chairman, said, "Firstar is pleased to be partnering with such a fine company as Midland Enterprises and its subsidiary, the Ohio River Company. Our recent merger with U.S. Bancorp has greatly expanded our equipment finance and commercial leasing capabilities in this market." He added, "We continue to remain committed to providing top quality banking services in the greater Cincinnati marketplace." Firstar Equipment Finance will soon adopt the name of its parent company, U.S. Bancorp Equipment Finance, to reflect the merger of these companies this past February.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Workboats

North Sea Atlantic Joins the Technip fleet

On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic.

HydroComp to Hold Propeller 'Mini-Workshop'

A special version of HydroComp's intensive Propeller Workshops will be brought to Tampa before the start of IBEX 2014.   The Mini-Workshop is a special version

Crowley Christens New DP2 Tugboat

Crowley Maritime Corp. said that the third of four tugboats in the Ocean-class series, Ocean Sky, has been christened in Houston. The ceremony served to formally

Ports

Location of New Port Expansion Projects: Analysis

When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure,

GAC North America Passes the Helm to Schensema

GAC says it  has moved Claus Schensema to Houston, Texas, where he will take up the post of Managing Director of GAC North America Logistics. Schensema brings

Intelligent grabbing technology SmartGrip by Liebherr

For the mobile harbour crane range Liebherr has developed an intelligent system which optimises grab filling rates in a self-learning manner. In a comprehensive study,

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2734 sec (4 req/sec)