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Freight Shipping Services News

15 Mar 2023

New Vessel Enters Service for Fire Island Ferries

Fire Island Maid (Photo: EBDG)

Fire Island Ferries has taken delivery of its newest vessel, Fire Island Maid, designed by Elliott Bay Design Group (EBDG) and built by Metal Shark in Bayou La Batre, Ala.The 70- by  23-foot multipurpose vehicle ferry features a steel hull and aluminum superstructure and is equipped with a hydraulic ramp for loading and unloading heavy equipment. The reinforced deck is capable of supporting fully loaded concrete trucks and general cargo up to 100,000 pounds. The aft pilot house accommodates two crew and up to six passengers (assumed to be in their vehicles).

17 Oct 2017

St. Lawrence Seaway Cargo Volumes Buoyant

The Canada-flag Algolake loading wheat at the CHS elevator in the Port of Duluth-Superior. (Photo by: Terry White / Chamber of Marine Commerce)

As marine shipping continues to support the growth of the Canadian and U.S. economies, St. Lawrence Seaway cargo shipments to-date for 2917 are 14 percent ahead of 2016 volumes. Total cargo tonnage from March 20 to September 30 reached 24.3 million metric tons – 3 million metric tons more compared to the same period in 2016, according to The St. Lawrence Seaway Management Corporation. “Our results point to the strength of the Canadian and U.S. economies. Export shipments of mined products such as iron ore and dry bulk via the Seaway have grown dramatically this year…

30 Mar 2015

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's senior secured debt and increased credit availability. -- Extends the maturity of the senior secured debt facility through September 2019. "We are pleased to consummate the refinancing of our senior secured debt facility," commented Joseph McHugh, Chief Financial Officer of Rand. McHugh also said that since December 31, 2013, Rand has reduced its all-in cost of debt and preferred stock capital by approximately 178 basis points for the benefit of shareholders. The senior debt financing was provided by a syndicate led by Bank of America. Rand Logistics, Inc.

03 Feb 2009

Former Shipping Exec Sentenced

A former high-level shipping executive was sentenced today to serve 48 months in jail and to pay a $20,000 criminal fine for his role in an antitrust conspiracy involving the transportation of goods to and from the continental United States and Puerto Rico by ocean vessel, the Department of Justice announced on Jan. 30. This is the longest jail sentence ever imposed for a single antitrust charge. Peter Baci of Jacksonville, Fla., pleaded guilty on Oct. 20, 2008, in the U.S. District Court in Jacksonville for his role in the conspiracy, which began at least as early as May 2002 and continued until as late as April 2008. Baci was charged…

02 Oct 2008

Shipping Execs Agree to Plead Guilty

The U.S. Department of Justice announced that four individuals have agreed to plead guilty for their involvement in a conspiracy to eliminate competition and raise prices for moving freight between the Continental U.S. and . A fifth shipping executive has agreed to plead guilty to destroying evidence of the shipping conspiracy. The five executives charged  work for large companies that provide freight shipping services to customers transporting goods between the continental and . These companies transport a variety of cargo shipments, such as heavy equipment, medicines and consumer goods, on scheduled ocean voyages between the continental and . The to shipping lane is governed by the Jones Act, a portion of the Merchant Marine Act of 1920.