Rand, Chengxi Sign Shipyard Contract

Rand Logistics, Inc. has entered into a contract with the Chengxi Shipyard for the construction and assembly of a new forebody which will be affixed to the aft section of the company’s recently acquired Danish flagged chemical tanker.

When introduced into service in the second half of calendar 2015, this vessel will increase the size of Rand’s fleet to 17, including 10 Canadian flagged and 7 U.S. flagged vessels, and will be the first Canadian flagged river class self-unloader introduced into service on the Great Lakes in over 40 years.

The conversion project will take place in Jiangyin, China at the Chengxi Shipyard.

“We are very pleased to be working with the Chengxi Shipyard on this important project for our Company,” said Scott Bravener President of Lower Lakes Towing.

“Subsequent to introducing the vessel into service, we will operate five of the seven Canadian flagged river class vessels in the market.

The new vessel will not only have the largest carrying capacity of any existing Canadian river class self-unloader,but it will also be the most efficient river class vessel on the Great Lakes,” said Mr. Bravener.

[mappress]

May 27, 2014