Vessel Forebody Launched for Rand Logistics
Vessel introduction on track for fourth quarter of 2015
Rand Logistics, Inc. announced the launch of its new vessel forebody. The new forebody, built by Chengxi Shipyard Co., will be affixed to the aft section of the company's recently acquired Danish-flagged vessel and is set to become the first new Canadian-flagged river class self-unloader introduced into service on the Great Lakes in over 40 years.
The new vessel is expected to be introduced into service in the fourth calendar quarter of 2015 and will increase the size of Rand's fleet to 16, including 10 Canadian-flagged and six U.S.-flagged vessels. When introduced, it will have the largest carrying capacity of any existing Canadian-flagged river class self-unloader.
Scott Bravener, President of Lower Lakes Towing commented, "We are pleased to have achieved this milestone event and remain very excited about introducing this vessel into service later this year. As we have reported previously, the new vessel is fully booked with long-term contractual business and is expected to be the most efficient river class vessel on the Great Lakes. The introduction of this vessel into service is one of the elements of our strategic plan to improve our return on invested capital and, based on our current expectations, the new vessel will be accretive to return on invested capital in its first full year of service."
A video of the forebody launching is available here.
