Stonepeak Taurus Lower Holdings, better known by its business name of Trac Intermodal, now has a negative outlook from a key ratings agency even as the chassis provider’s corporate debt rating was affirmed.
Moody’s on Monday reduced the outlook on Trac to negative, but its B2 corporate family rating was held steady. The rating had been Stable.
A B2 rating is five notches below the cutoff between investment-grade and non-investment-grade debt. Moody’s describes a B2 rating as “subject to high...
Now that the crunch for chassis has abated from pandemic-fueled shortages, companies can return to business as usual, right? Not so, says Dan Walsh, president and CEO of Trac Intermodal, a North American marine chassis provider based in Princeton, New Jersey.
FreightWaves recently chatted with Walsh to discuss forecasts for chassis demand. Expect e-commerce, the need for supply data visibility and shifting manufacturing patterns in Asia to play a role, according to Walsh.
This question-and-answer...
https://www.freightwaves.com/news/trac-intermodal-ceo-eyes-continued-growth-for-chassis-industry
The Surface Transportation Board has denied a request by CSX (NASDAQ: CSX), Norfolk Southern (NYSE: NSC) and the Alabama Port Authority to allow a mediator to come between the railroads and Amtrak over Amtrak’s request to operate Gulf Coast service between New Orleans and Mobile, Alabama.
The railroads and the port had asked for board-sponsored mediation last on March 25, but STB denied that request for now. Any...
https://www.freightwaves.com/news/rail-roundup-amtrak-gulf-coast-update-csx-trac-intermodal-bnsf
Trac Intermodal and American Made Chassis (AMC) have partnered to increase Trac’s fleet of 40-foot chassis in a bid to increase chassis supply, especially amid the ongoing import surge and elevated equipment dwell time.
AMC is an alliance of LB Steel and Integrated Industries.
The agreement calls for LB to build frames, while Integrated Industries will blast, paint and install all equipment components at its Dixmoor facility in Illinois, Trac Intermodal said.
Chassis made by AMC are already...
The issues that are before the Surface Transportation Board — reciprocal switching and proposed acquisitions — are important to rail shippers and the broader industry in 2022.
But the allocation of federal grants for infrastructure projects, regulatory discussions on crew staffing and automated track inspections, and efforts to relieve supply chain congestion, especially at the ports, also are weighing on the minds of those representing rail and intermodal interests.
“The freight rail industry...
The Transportation Technology Center Inc. (TTCI), a subsidiary of the Association of American Railroads, has named Kari Gonzales as its new president.
Gonzales, a 20-year veteran of Pueblo, Colorado-based TTCI, has been serving as the group’s acting president since June. Prior to her appointment, she served as vice president and chief financial officer.
As the new president, Gonzales will lead TTCI’s long-term strategic planning as the group continues...
https://www.freightwaves.com/news/rail-roundup-ttci-trac-intermodal
Princeton, New Jersey-headquartered TRAC Intermodal has invested more than $1 billion since 2011 to expand and modernize its marine chassis fleet, the company said Tuesday.
The investments include not only new chassis but also those refurbished as part of TRAC’s BlueEdge Chassis Refurbishing program. In that program, chassis get outfitted with features such as LED lights, radial tires, wiring harnesses and brake systems,...
https://www.freightwaves.com/news/rail-roundup-trac-intermodal-wabtec-epa-and-up
FreightWaves recently chatted with Daniel Walsh, president and CEO of TRAC Intermodal, about reported chassis shortages and the congestion issues facing the supply chain.
This question-and-answer interview was edited for clarity and length.
FREIGHTWAVES: How is chassis availability in the regions that you serve? What are you seeing in the markets that you serve, and what is TRAC Intermodal doing to ensure things are running smoothly?
WALSH: “Just starting with the supply chain flows: Obviously...
https://www.freightwaves.com/news/moving-volumes-smoothly-trac-intermodal-ceos-3-keys
TRAC Intermodal has appointed Kenneth Forster as chief executive officer at FYX Fleet Roadside Assistance effective Feb. 8.
FYX, a TRAC subsidiary, is a provider of emergency fleet services for the intermodal and over-the-road trucking industries.
Forster most recently was the chief operating officer and president at MODE Transportation in Dallas. Before that, he was the CEO of SunteckTTS, a freight brokerage. He also was the CEO at Velocity Express and AirSage.
Forster succeeds Rodney Goderwis,...
https://www.freightwaves.com/news/career-tracks-trac-taps-industry-veteran-forster-to-lead-fyx