Rand Logistics

Discussion board focusing on Great Lakes Shipping Question & Answer. From beginner to expert all posts are welcome.
Guest

Re: Rand Logistics

Unread post by Guest »

garbear wrote:Noticed on Facebook this a.m. that Roger KYS has posted an article that Rand Logistics has been sold.
http://www.nasdaq.com/article/american- ... 1121-01366
LakerMatt

Re: Rand Logistics

Unread post by LakerMatt »

Sounds like good news for the company and the employees.
Making every effort to keep the ships, and keep them working.
http://www.nasdaq.com/press-release/ame ... 1121-01339
garbear

Re: Rand Logistics

Unread post by garbear »

Noticed on Facebook this a.m. that Roger KYS has posted an article that Rand Logistics has been sold.
Darryl

Re: Rand Logistics

Unread post by Darryl »

As someone who worked the Reserve, anyone who chops up a great steam plant like that deserves all the misery he can get!!
Yes.
Guest

Re: Rand Logistics

Unread post by Guest »

Guest wrote:If I recall correctly, KK Integrated had plans to retain the Reserve as a steamer, which it did operate as such for a period. The onset of labor issues, however, prompted the company to continue with its barge conversion plans.
It did operate with KK as a steamer, but keeping her as a steamer was never an option. Repowering was considered.
Guest

Re: Rand Logistics

Unread post by Guest »

If I recall correctly, KK Integrated had plans to retain the Reserve as a steamer, which it did operate as such for a period. The onset of labor issues, however, prompted the company to continue with its barge conversion plans.
Guest

Re: Rand Logistics

Unread post by Guest »

William Lafferty wrote:
That's quite a large document. Can you post which file you're referring to?
You can navigate this one easily:

https://seekingalpha.com/filing/3766732

The "Index" is linked to various sections. Items 1A and 3 are the most interesting. I'm sure KK Integrated is thrilled with all that RLOG stock they accepted when it sold the two Kubers to Rand. I hope it was sold right after the sale.
As someone who worked the Reserve, anyone who chops up a great steam plant like that deserves all the misery he can get!!
William Lafferty
Posts: 1491
Joined: March 13, 2010, 10:51 am

Re: Rand Logistics

Unread post by William Lafferty »

That's quite a large document. Can you post which file you're referring to?
You can navigate this one easily:

https://seekingalpha.com/filing/3766732

The "Index" is linked to various sections. Items 1A and 3 are the most interesting. I'm sure KK Integrated is thrilled with all that RLOG stock they accepted when it sold the two Kubers to Rand. I hope it was sold right after the sale.
Darryl

Re: Rand Logistics

Unread post by Darryl »

Guest: That's quite a large document. Can you post which file you're referring to? TIA
Guest

Re: Rand Logistics

Unread post by Guest »

From what I can read in the documentation, they will remain a going concern as long as they can obtain funding from the first lien holder. The second lien holder may require the company to declare bankruptcy.

http://app.quotemedia.com/quotetools/sh ... xbrl=false
Bill

Rand Logistics

Unread post by Bill »

In their recent quarterly release things were ugly to say the least. There is a whole section on the viability of the business remaining a "going concern". It appears, that will only be possible if they can get a new lender, the other two have cut them off.

Any rumours as to whether or not the LLT/GRN fleet will remain active in the near future?
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