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JERSEY CITY, N.J., Aug. 16, 2017 -- Rand Logistics, Inc. (NASDAQ:RLOG) (“Rand”), a leading provider of bulk freight shipping services throughout the Great Lakes region, announced today the Company has received five-year International Safety Management (ISM) Code certifications on eight of its Canadian vessels by the American Bureau of Shipping (ABS), the Company’s third-party surveyors.
“Certification of our vessels to the ISM Code is a direct reflection of our commitment to our core values of safety, health, security and protection of the environment in which we operate. The teamwork and effort put forth by our shipboard and shoreside employees to achieve these certifications were admirable and correlate to the pride our employees have in operating in the Great Lakes region,” stated Gerald Ray, Vice President of Operations for Lower Lakes Towing, Ltd., the Company’s Canadian operations. “Each and every employee should be proud of these certifications, which align with our operational and safety excellence initiatives.”
The first vessel in the Canadian fleet achieved ISM compliance in November 2016 and the eighth vessel obtained certification the week of July 17, 2017. It is expected that the ninth Canadian vessel will be certified after completion of its ISM audit in November, after returning to service to support the grain harvest.
The International Safety Management (ISM) Code is an international standard for the safe operation of ships and for pollution prevention. The ISM Code, to which participation is voluntary, establishes safety-management objectives and requires a safety management system (SMS) to be established by the Company.
About Rand Logistics
Rand Logistics, Inc. is a leading provider of bulk freight shipping services throughout the Great Lakes region. Through its subsidiaries, the Company operates a fleet of three conventional bulk carriers and twelve self-unloading bulk carriers including three tug/barge units. The Company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes. The Company's vessels operate under the U.S. Jones Act – which reserves domestic waterborne commerce to vessels that are U.S. owned, built and crewed – and the Canada Coasting Trade Act – which reserves domestic waterborne commerce to Canadian registered and crewed vessels that operate between Canadian ports.
Forward-Looking Statements
This press release contains forward-looking statements, including statements about our expectations for obtaining a ninth ISM certification and the return to service of our vessels. For all forward-looking statements, we claim the protection of the Safe Harbor for Forward-Looking Statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. Future events affecting our strategic plan and actual results of our financial position, results of operations and cash flows, could differ materially from those described in or contemplated by the forward-looking statements. Important factors that contribute to such risks include, but are not limited to, the effect of an economic downturn in certain of our markets; the weather conditions on the Great Lakes; our ability to meet current regulations, standards and certification requirements; and changes in laws or regulations.
The risks included are not exhaustive. For a more detailed description of these uncertainties and other factors, please see the "Risk Factors" section in Rand's Annual Report on Form 10-K filed with the Securities and Exchange Commission on July 6, 2017 and in Rand’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2017.
CONTACT: Rand Logistics, Inc. Corporate Communications: Annemarie Dobler (212) 863-9429 [email protected]
