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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Workboats

Subchapter M: The Designated Person Ashore and You

As the workboat industry marches toward Subchapter M, and ever closer to the International Safety Management (ISM) Code, the appointment of a Designated Person Ashore (DPA) becomes more important,

Insights: Benny Cenac, Jr., Owner & CEO, Cenac Towing Company

Arlen “Benny” Cenac Jr. is a third-generation owner of Cenac Towing Company. The firm, originally founded in 1927 by his grandfather, now does business as Cenac Marine Services.

Seaspan Venture: Like for Like

“We don’t usually remove the heads at mid-life on the Cummins engines,” Randy Beckler, Shore Engineer for Seaspan Marine, explained in reference to the 2003 launched

Ports

Hapag-Lloyd Sees Uptick of Incorrectly Declared Dangerous Goods

Year-on-year increase of 65 percent; more than 4,300 cases worldwide   Container shipper Hapag-Lloyd said it registered considerably more incorrectly declared dangerous goods last year,

Containership Detained in Tacoma for Safety Violations

The 685-foot Liberian-flagged containership Westwood Robson is being held in port after significant safety violations were discovered by Port State Control officers from U.

Norway will be Lithuania's 2016 Top Gas Supplier

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0658 sec (15 req/sec)