Mark Knoy

American Commercial Barge Line names new CEO

The ACBL towboat Jeff Kindl. Ken Hocke photo.

American Commercial Barge Line (ACBL) announced today that is has named Mike Ellis the company’s new chief executive officer and a member of the board of directors. Ellis will assume his new position on Aug. 17.

Today’s announcement follows the July 15 announcement that Mark Knoy will retire from his positions as president and CEO and member of the board of the Jeffersonville, Ind.-based inland barge operator.

Mike Ellis
Savage Services photo

“Following a thorough search, we are delighted to...

https://www.workboat.com/news/coastal-inland-waterways/american-commercial-barge-line-names-new-ceo/

Mike Ellis named American Commercial Barge Line CEO

American Commercial Barge Line (ACBL) and its board of directors have named Mike Ellis, as the company’s new CEO and a member of its board of directors, effective August 17, 2020.

The announcement follows an earlier announcement that Mark Knoy will retire from his positions as president and CEO and member of the board.

“Following a thorough search, we are delighted to welcome Mike Ellis as ACBL’s new CEO, beginning a new chapter in the company’s 100-plus year storied history,” said John Giles,...

https://www.marinelog.com/coastal/inland/mike-ellis-named-american-commercial-barge-line-ceo/

ACBL chief Mark Knoy to retire

Mark Knoy, president and CEO of American Commercial Barge Line Inc., announced last week that he planned to retire to spend more time with his family. He will reportedly leave Jeffersonville, Ind.-based ACBL by the end of the year.

Knoy made the announcement in a July 15 e-mail to employees. “I have wrestled with this decision for the last few years,” Knoy wrote in the e-mail. “I’ve always desired to leave ACBL in good order, and I think now is the right time.”

ACBL’s board of directors will...

https://www.workboat.com/news/coastal-inland-waterways/acbl-chief-mark-knoy-to-retire/

Illinois River locks and dams to close for repair work

A much-anticipated three-month closure of parts of the Illinois Waterway for major repairs to aging navigation infrastructure gets underway tomorrow, July 1, and will run through the end of October.

The shutdowns will affect barge traffic through this major waterway, which carries more than 29 million tons of cargo each year — mainly agricultural and industrial products — and consists of rivers, lakes and canals that provide a shipping link between Lake Michigan and the Mississippi River.

Closure...

https://www.workboat.com/news/coastal-inland-waterways/illinois-river-locks-and-dams-to-close-july-1-for-repair-work/

ACBL completes recapitalization

American Commercial Barge Line Holding Corp., as successor to American Commercial Lines Inc., today announced that it has successfully completed its recapitalization and emerged from Chapter 11.

ACBL says it is moving forward as an inland barge transportation leader and continuing to provide customers with safe, reliable and competitive solutions.

It says that with $200 million in new equity capital and having reduced its funded debt by approximately $1 billion, it has a strong financial...

https://www.marinelog.com/coastal/inland/acbl-completes-recapitalization/

American Commercial Lines’ reorganization plan approved

Photo by David Krapf

American Commercial Lines Inc. announced today that the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, has approved the company’s pre-packaged plan to recapitalize the business. ACL expects to complete its recapitalization and emerge from Chapter 11 in the coming weeks. ACL filed for bankruptcy on Feb. 7.

Upon emerging from bankruptcy, the Jeffersonville, Ind.-based barge operator will receive $200 million in new capital to support liquidity and investments in the...

https://www.workboat.com/news/coastal-inland-waterways/american-commercial-lines-reorganization-plan-approved/

High water delays completion of final phase of Olmsted project

High water conditions continue to hamper progress to dismantle the old locks and dams that have been replaced by the Olmsted project along the Ohio River in Illinois, while also causing restrictions on tows that are using the nation’s newest, most advanced and expensive civil works project.

The U.S. Army Corps of Engineers and their contractors have stopped work on removing Lock and Dams 52 and 53, and will resume once the river levels drop, possibly not until June or July, according to Katelyn...

https://www.workboat.com/news/coastal-inland-waterways/high-water-delays-completion-of-final-phase-of-olmsted-project/

Barge industry needs truck and rail, ACBL CEO says

Inland industry consolidation has led to a shortage of leadership because of a shallower pool of talent. Ken Hocke photo

The barge industry is a major piece of the U.S. economy. According to the American Waterways Operators, the industry’s economic contributions to employment, gross domestic product, and taxes at the national and state levels is substantial. A 2017 report commissioned by AWO and put together by Pricewaterhouse Coopers shows the industry supports over 301,500 jobs nationwide, with a total gross domestic product of $33.8 billion and moves more than 760 million tons of cargo annually.

Barging...

https://www.workboat.com/news/coastal-inland-waterways/barge-industry-needs-truck-rail-acbl-ceo-says/