Great Lakes Sees New Investment Despite Cargo Slowdown
As ongoing commodity price pressures continued to impact overall tonnage volumes through the St. Lawrence Seaway in September, the shipping industry was buoyed by a number of investments in recent weeks by ship operators and ports, according to the Chamber of Marine Commerce, an association representing Canadian and American marine industry stakeholders. “Despite slower iron ore and coal, growth continues on the Seaway in shipments for domestic sectors like construction, salt mining, agriculture and manufacturing,” said Stephen Brooks, President of the Chamber of Marine Commerce.
Seaway Cargo Movements Pick up Ahead of Winter
Shipments through the St. Lawrence Seaway remained strong in October as North American manufacturers and cities stockpiled vital materials in advance of the coming winter and farmers relied on the waterway to export the new harvest. According to the St. Lawrence Seaway, total cargo tonnage from March 25 to October 31 reached 29.6 million metric tons, up 4.5 percent over the same period last year, as robust grain and steel shipments have more than offset a drop in iron ore shipments through the Seaway. “Autumn is typically the St.
Rand Hires Robert Bezan, VP Planning and Analysis
Rand Logistics, Inc. announced the hiring of Robert (Bob) Bezan for the newly created position of Vice President of Planning and Analysis at its subsidiary, Lower Lakes Towing Ltd. In this role, Bob will be responsible for all operational planning and analysis activities for the Company. Bob has spent the last 14 years at Algoma Central Corporation and Seaway Marine Transport serving in similar capacities. This position was created in response to the company’s recent fleet expansions and to enable us to capitalize on future growth opportunities.
Rand Logistics Acquires Two Vessels
Rand Logistics Inc. Voyageur group of companies for $23.7m. Additionally, the company entered into a contract of affreightment with Voyageur for the exclusive use of a third vessel, and secured an option to acquire this vessel. Management anticipates the three vessels will be immediately accretive to EBITDA and net income for Rand. customers for these vessels. on the vessels will be grain. crew manning on the three vessels. U.S. Company. warrants.
