Sinotrans Joins CGLN Bringing Over 200 Offices
Sinotrans Ltd. of the People’s Republic of China, has agreed to join China Global Logistic Network, (CGLN). As a flagship of integrated logistics in Sinotrans Group, Sinotrans Ltd. inherited its over fifty-years of experience in logistics and transportation, customer base and brand. Under the Ministry of Commerce with over 200 offices, and over 24,000 employees, they will become part of CGLN with the exclusive goal of working only with other CGLN members worldwide.
ACL 2009 Q4 Results
American Commercial Lines Inc. (NASDAQ: ACLI) announced results for the fourth quarter and year ended December 31, 2009. Revenues for the quarter were $226.9 million, a 16.4% decrease compared with $271.6 million for the fourth quarter of 2008. The decrease in revenue in 2009 was primarily due to changes in the mix of commodities shipped by our transportation customers, decreased towing revenue, lower grain freight rates and lower fuel prices (which are generally passed through to our customers). Total ton-mile volume declined by 1.4% compared to the fourth quarter 2008. Income from continuing operations for the quarter was $14.2 million or $1.09 per diluted share, compared to $22.9 million or $1.81 per diluted share for the fourth quarter of 2008.
