Mr. Levy: Rand Logistics is a Jones Act- and Canada Marine Act-registered shipping company that focuses on bulk commodity shipping on the Great Lakes. The company was founded in the mid-1990s by Captain Scott Bravener, who today remains President of Lower Lakes, our operating division. We have grown from a startup to a company that today operates 12 vessels, shipping bulk commodities primarily in the River Class segment on the Great Lakes.
TWST: What is the significance of the U.S. Jones Act and the Canadian Marine Act for your company?
Mr. Levy: The Jones Act is an act of Congress that requires vessels that are transporting product between United States ports to be manufactured in the United States. It also requires that the crewmen operating the vessels be United States citizens and that the company be controlled by American citizens. The Canada Marine Act has a somewhat similar set of rules and regulations relating to Canadian-flagged vessels. We are the only significant operator on the Great Lakes that operates under both the United States and Canadian flags.
Tickers included in this excerpt: RLOG
For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.