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Mike Ryan News

01 Aug 2011

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 Financial Officer. Industry veteran Mark Knoy, 52, is joining ACL following a seventeen year career at AEP River Operations, LLC, a subsidiary of American Electric Power Co., Inc., where he spent the last ten years serving as President. Under Mr. Knoy's leadership AEP River Operations grew to become one of the nation's largest and most successful barge lines. "Mark brings to ACL many years of profitable growth on the inland waterways," said Bryan Kelln, President of Portfolio Operations at Platinum Equity.

13 Jun 2011

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. The first of these barges, launched on Tuesday, May 10 by ACL's President and CEO Mike Ryan, was a clean service tanker with a capacity of 30,000 barrels. It includes a redesigned stainless steel piping system and a new radial rake design that will also be found on the tankers the Company plans to build over the next 20 months. "We are excited to have launched the first of the new replacement tankers that we will be building this year and next to significantly improve the quality of our liquids fleet for our customers…

22 Mar 2011

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 and holidays excluded) for loading or unloading, after which they will be charged $300 demurrage per day for the next ten days and $400 per day for the following twenty days. After thirty billable demurrage days, a $500 charge will be assessed daily until the barge is released to ACL. These new charges will apply to all contracts executed on or after April 1, 2011.

21 Oct 2010

Affiliate of Platinum Equity to Acquire ACL

American Commercial Lines Inc. (NASDAQ: ACLI), one of the largest and most diversified inland marine transportation and service companies in the United States, announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Platinum Equity, in a transaction with an enterprise value of approximately $777m. ACL's Board of Directors, acting on the unanimous recommendation of a Special Committee of independent directors, approved the agreement and has recommended the approval of the transaction to ACL's stockholders. Under the terms of the agreement, ACL stockholders, other than GVI Holdings, Inc. and certain of its affiliates (GVI), will receive $33.00 in cash for each share of ACL common stock they hold.

25 Oct 2009

Waterways Council Names Officers & Directors

Richard R. (Rick) Calhoun, Cargo Carriers, Chairman; Cornel Martin, President & CEO; Merritt Lane, Canal Barge Line, Vice Chairman; Rodney Weinzierl, Illinois Corn Growers Association, Vice Chairman;  Matt Woodruff, Kirby Corporation, Counsel; Peter Stephaich, Campbell Transportation Company, Secretary; Cherrie Felder, Channel Shipyard Company, Treasurer. Dan Mecklenborg, Ingram Barge Line Co., was named Immediate Past Chairman, and Berdon Lawrence, Kirby Corporation and Mark Knoy, AEP River Operations, were named Honorary Past Chairmen. Named to At Large positions were Michael Hennessey, CONSOL Energy Co.; Tim Parker, Jr., Parker Towing Company; Stephen Little, Crounse Corporation; and Dale Roth, Carpenter’s District Council of Greater St. Louis and Vicinity.

13 Oct 2009

ACL Plans to Build New Covered Hopper Barges

American Commercial Lines Inc. (NASDAQ: ACLI) announced that the Company will build fifty covered hopper barges for use by its Transportation Services Division at the Company's Jeffboat manufacturing subsidiary in the first quarter of 2010. Commenting on the build plan, ACL President and CEO Mike Ryan stated, "We are executing the next phase of our long-term strategic plan. We recently completed the realignment of our field-based Transportation Services management team, establishing new northern and southern region headquarters locations. Now, we are beginning our dry barge replacement program in order to reduce the age of our fleet. This is an ideal time to build barges as we have the best steel prices that we have had in several years.

02 Aug 2007

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."

13 Feb 2007

ACL Gets Over $30m of New Business

American Commercial Lines Inc. (ACL) has launched the organic growth initiative of its business strategy. ACL's organic growth model includes transporting more freight with its existing customers as well as converting rail and truck shipments to move via barge transportation. Commenting on the new business, Mike Ryan, Senior Vice President, Sales and Marketing stated, "We have successfully introduced ACL as a shipping alternative to a broad spectrum of shippers. We have recently secured over $30 million of contractual commitments for new business in 2007. The new business includes various commodities, including coal, chemicals and metals. One meaningful example is a conversion of chemicals, which were previously shipped by rail from the Midwest for export thru the Gulf.