Thursday, November 1, 2012

"Commercial Barge Line Company Announces Results for Third Quarter 2012" ($CNRD)

More barge intel from the Commercial Barge Line Company (American Commercial Lines) results released today,

"While the current quarter's events have set the industry back in the near-term, transportation of commodities via the inland waterways continues to be the most cost effective and environmentally friendly mode of transport and we believe the fundamentals of our business are strong. Industry sources project an increase in demand for covered hopper transport during 2013, after adjusting for the effect of the 2012 drought, increasing pressure on barge availability and rates.[...]

We are also pleased with the continued opportunities that we are experiencing in the liquid market.[...]

Manufacturing segment revenues decreased 70.7% to $10.3 million, as 18 barges were sold to third-parties compared to 63 sold in the prior year quarter. This decline is attributable to the shift of a significant portion of the manufacturing segment's capacity to the production of barges for the transportation segment during the third quarter [...]

"We continue to see opportunities in the energy sector, as US coal exports are strong and North American oil production continues to rise. Tank barge capacity in the industry continues to be in tight supply and we are exploring a number of strategies that we believe will take advantage of these market dynamics.

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