Rail Roundup: Tiger Cool Express refrigeration, Greenbrier lease successful

Tiger Cool Express provides refrigerated warehouses for Pacific Northwest ag exporters

Intermodal service provider Tiger Cool Express We plan to acquire the former Union Pacific Cold Connect Warehouse in the Pacific Northwest to serve agricultural exporters.

The Tiger Tri-Cities Logistics Center in Wallula, Washington serves shippers and exporters in three states. Tiger Cool Express said Tuesday that it will sign an intention to acquire the facility from UP and will develop an intermodal lamp adjacent to the site.

The first service goes between the Wallula and Northwest Seaport Alliance docks for dry and frozen exports, and between Wallula and Chicago, and via Tiger Cool Express refrigerated home containers and UP refrigerated boxcars.

“Despite continued growth and fleet expansion, we recognize that our current Pacific Northwest customers need a broader portfolio of services,” said Steve Van Kirk, CEO of Tiger Cool Express. Stated. “This will allow us to add exports, box cars and temperature-controlled integrated services to our current portfolio, and improve the economics of exporting frozen french fries, apples, hay, legumes and other agricultural products. This also allows us to expand our support for local farmers and their families. “

Tiger Cool Express wants to extend its service to other markets such as the I-5 Corridor and Mexico.

“This is literally’back to the future’for me,” said Ted Prince, chief strategy officer and co-founder of the company. “We worked for a shipping company 25 years ago and used the Colombia-Snake River system to operate barges in collaboration with a double-stack freight rail network, providing seamless intermodal connections to refrigerated and dry exporters. It’s exciting to revive similar capabilities that enable agricultural providers to compete more effectively in the global market while removing highway congestion and pollutants. “

Tiger Cool Express said the new service offering aims to be environmentally friendly.

“This new service complements the carbon-free road service we already offer. We will also be able to offer box car services to the best products in that mode. We will handle this new business in 2022. We look forward to that, “said Leslie Baird, Chief Commercial Officer of Tiger Cool Express.

GBX leasing exceeds lease fleet investment target

GBX Lease, Parent Company Rail Vehicle Lender Greenbrier (((NYSE: GBX) Owns 95%, exceeding the rail vehicle leasing target for the first year.

According to railroad vehicle manufacturer Greenbrier, the company had set a goal of acquiring $ 200 million worth of new and leased vehicles in the first year of operation, but as of September 30, it acquired $ 350 million. , 75% above the original target.

GBX Leasing has nearly 4,000 units in its fleet, and more than 3,600 units were announced this Wednesday. According to Greenbrier, the fleet was assembled by combining a lease of Greenbriar railcars with a portfolio acquisition announced Wednesday.

Bill Furman, CEO and Chairman of Greenbrier, said: The recent acquisition of rolling stock advances Greenbrier’s strategy of expanding the size of its lease fleet assets.

“The combination of rail vehicle types included in the acquisition is ideal for the expanding GBXL portfolio. This fleet will provide better service to existing customers and attract market participants that Greenbrier did not previously support. In addition, the transaction creates attractive profits and adds more value to shareholders, “Ferman said.

According to Greenbrier, rolling stock on GBX leased vehicles is used in a wide range of industries, including agriculture, energy, petrochemicals and consumer goods.

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