Profile: Rand Logistics Inc (RLOG.O)
22 May 2015
Rand Logistics, Inc. (Rand), incorporated on June 2, 2004, is a provider of bulk freight shipping services. The Company’s shipping business is operated in Canada by Lower Lakes Towing and in the United States by Lower Lakes Transportation. Lower Lakes Towing provide marine transportation services to dry bulk goods suppliers and purchasers operating in ports on the Great Lakes is a small tug and barge operator to a service shipping company with a fleet of sixteen cargo-carrying vessels. It is also a service provider in the River Class market segment, which is defines as vessels less than 650 feet in overall length. Rand transports construction aggregates, salt, iron ore, coal, grain and other dry bulk commodities for customers in the construction, electric utility, integrated steel and food industries.
Lower Lakes' fleet consists of five self-unloading bulk carriers and four conventional bulk carriers in Canada and seven self-unloading bulk carriers in the United States, including one integrated tug and barge unit and three articulated tug and barge units. Lower Lakes Towing owns the nine Canadian vessels. Lower Lakes Transportation time charters the seven the United States vessels, including the four tug and barge units, from Grand River. With the exception of one barge (which Grand River bareboat charters from an unrelated third party) and two of the articulated tug and barge units (which Grand River bareboat charters from Black Creek), Grand River owns the vessels that it time charters to Lower Lakes Transportation.
The Company competes with Algoma Central Corporation and American Steamship Company.
Rand Logistics Inc
50th Floor, 500 Fifth Avenue
NEW YORK NY 10110