March 14, 2006
ACL in towing agreement with Canal Barge
American Commercial Lines Inc. (Nasdaq: ACLI) announced today that it has entered into an agreement with privately owned Canal Barge Company, Inc. to collaborate on providing towing service throughout the inland waterway system.
The agreement provides for towing service, seaworthiness, regulatory compliance and inspections. It is expected the joint service will reduce waiting time for customers by improving tow size utilization and frequency of service.
Commenting on the agreement, Mark R. Holden, ACL's President and CEO, stated "We are pleased with the opportunity to collaborate with Canal Barge Company to provide towing services. One of our top priorities in 2006 is to improve the velocity of our fleet through not only our own initiatives but also through coordinated efforts with strategic partners like Canal. We believe by improving our service and performance, we ultimately broaden the market for barge transportation.