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United States

Profile: Rand Logistics Inc (RLOG.O)

RLOG.O on Consolidated Issue listed on NASDAQ Capital Market

1.04USD
22 Jul 2016
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$-0.06 (-5.45%)
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Rand Logistics, Inc., incorporated on June 2, 2004, is a shipping company that, through its operating subsidiaries, is engaged in the operation of bulk carriers on the Great Lakes. The Company's shipping business is operated in Canada by Lower Lakes Towing Ltd. (Lower Lakes Towing) and in the United States by Lower Lakes Transportation Company (Lower Lakes Transportation). The Company transports construction aggregates, salt, grain, coal, iron ore, and other dry bulk commodities for customers in the construction, electric utility, food, and integrated steel industries. Lower Lakes' fleet consists of approximately six self-unloading bulk carriers and over four conventional bulk carriers in Canada and approximately six self-unloading bulk carriers in the United States, including over three articulated tug and barge units. Lower Lakes Towing owns approximately nine Canadian vessels and Lower Lakes Towing (17) Ltd. (Lower Lakes (17)) owns the tenth Canadian vessel. Lower Lakes Transportation time charters approximately six the United States vessels, including the three tug and barge units, from Grand River Navigation Company, Inc. (Grand River). With the exception of two of the articulated tug and barge units, Grand River owns the vessels that it time charters to Lower Lakes Transportation.

Lower Lakes operates over one-half of all River Class vessels and boom-forward equipped vessels servicing the Great Lakes. Lower Lakes provides domestic port-to-port services to both Canada and the United States in the Great Lakes region and operates both the United States and Canadian flagged vessels. As of March 31, 2016, the Company's fleet consists of various vessels, including Self-Unloading Bulk Carriers, including Cuyahoga, Michipicoten, Mississagi, Robert S. Pierson, Saginaw, Manitoulin, Calumet, Manitowoc and Manistee; Straight Deck Bulk carriers (all Canadian-flagged), including Kaministiqua, Manitoba, Ojibway and Tecumseh, and Self-Unloading Articulated Tug and Barge Units (all the United States-flagged), including Barge Ashtabula, Tug Defiance, Barge James L. Kuber, Tug Victory, Barge Lewis J Kuber and Tug Olive L. Moore. Lower Lakes Towing leases approximately 12,000 square feet of warehouse space at 107 Greenock Street, Port Dover, Ontario; approximately 24,800 square feet of warehouse space at 109 Greenock Street, Port Dover, Ontario, and approximately 5,000 square feet of office space at 517 Main Street, Port Dover, Ontario. Grand River leases approximately 1,300 square feet of space at 32861 Pin Oak Parkway, Suite B, Avon Lake, Ohio and approximately 4,400 square feet at 1028 Hannah Street, Suite D, Traverse City, Michigan.

The Company competes with Algoma Central Corporation and American Steamship Company.

Company Address

Rand Logistics Inc

333 Washington St Ste 201
JERSEY CITY   NJ   07302-3095
P: +1212.8639427
F: +1302.6555049

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