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INLAND WATERWAYS © hildeanna / Abobe Stock barge owner, American Commercial Lines (ACL), ?led for and ?ooding that have severely hindered inland waterway

Chapter 11 bankruptcy protection in February, citing in court shipping, resulting in increased operating costs and reduced documents a “con?uence of environmental, macroeconom- revenues. “For the quarter ended September 30, 2019, ACL ic and industry-speci?c factors” that have created a “perfect estimates that it lost approximately $18 million in revenue as storm” negatively affecting its business. a result of the high water conditions and periodic river clo- “Like many others in our industry, over the last four years sures. ACL’s operating costs increased by an estimated $86

ACL has been affected by challenging market conditions, the million during the nine months ended September 30, 2019 as weather and the closure of key areas of the river system for ex- a result of this ?ooding,” the company said.

tended periods of time,” said ACL President and CEO, Mark ACL also pointed to a barge capacity glut brought on by de-

Knoy, in a statement on February 4. clines in domestic coal shipments as well as decreased demand

Among factors listed was unusually high levels of rainfall for soybeans and other goods as a result of the U.S.-China

May 2020 32 MN