Subscribe to our free, weekly email newsletter!


Maersk Inc. announces sale of Direct Chassis Link, Inc.

The proposed sale of the company doing business as Direct Chassis Link, Inc. (“DCLI “ or the “Company”) comes after an agreement with to the private investment firm, Littlejohn & Co., LLC.
By Patrick Burnson, Executive Editor
February 04, 2012

In keeping with a trend to shed assets, Maersk Inc. is selling its subsidiary, Maersk Equipment Services Company.

The proposed sale of the company doing business as Direct ChassisLink, Inc. (“DCLI “ or the “Company”) comes after an agreement with to the private investment firm, Littlejohn & Co., LLC.

As noted in LM recently, Maersk has been aggressively expanding its ocean carrier deployment network, while divesting itself of operations not related to its core competency.

“The A.P. Moller-Maersk Group’s strategy is to build on its strong presence in shipping, energy and related activities,” said J. Russell Bruner, Chairman and CEO of Maersk Inc. “We have been pleased with the business levels, the profitability and the quality of management at DCLI.  It is, however, a provider of chassis, and it does not fit in our long-term strategic focus.” 

The transaction is expected to be completed in March of 2012, subject to regulatory approvals and satisfaction of customary closing conditions.  The transaction will have no impact on the Group’s result for 2012.
DCLI rents and leases chassis to drayage companies and steamship lines in the United States.  The Company owns or leases approximately 66,000 chassis through a network of 129 locations strategically located on or near key ports and other intermodal hubs in the United States.

In a statement, Littlejohn managing director Edmund J. Feeley said, DCLI is “uniquely positioned” to service the strict requirements of ocean carriers, dray operators and railroads.

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The dark side of the “Amazon effect” and larger impact made by the explosive growth in e-commerce may soon be seen when organized labor prepares of a massive air cargo strike.

During this webcast our panelist offer logistics and supply chain professionals a “reality check” when it comes to our current state of understanding, adoption, and utilization of the technological tools that are available to improve our operations.

The index ISM uses to measure non-manufacturing growth—known as the NMI—was 55.7 in April (a level of 50 or higher indicates growth), which was up 1.2 percent compared to March, with economic activity in the non-manufacturing sector growing for the 75th consecutive month.

Total gross first quarter revenue for XPO was up 404.4 percent annually to $3.5 billion, with net revenue up 510.5 percent to $1.6 billion. While gross and net revenue were up, the company reported a net loss of $23.2 million, or $0.21 per diluted share and an adjusted net loss attributable to common shareholders of $9.3 million or $0.08 per share.

Regardless of capacity, pricing, or the economy, trucking industry regulations are never far from the freight transportation limelight. That is especially evident when it comes to the federally mandated hours-of-service (HOS) regulations. As usual, the current state of HOS remains somewhat fluid. And the reason for that has to do with legislation coming from the Senate Transportation Appropriations legislation that is currently being considered by the Senate.

Article Topics

News · Ocean Freight · Ocean Cargo · Intermodal · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA