Page 18: of Marine News Magazine (March 2019)

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INSIGHTS at all opportunities to improve our service offerings on the

What will it take for freight rates to improve on the inland rivers?

inland waterways. We believe Campbell is well positioned

The supply and demand must come into equilibrium. to take advantage of the consolidation that we have seen in

Economics 101. Export coal markets have temporarily giv- the industry over the past few years. en barge/day demand a boost. We are not sure how long

In your current position at the Waterways Council, this will last. On the positive side, if we can work things

Inc., give us a sense of JOB 1 looking ahead for this out with China, the demand for US soybeans will return as industry advocacy group.

soon as the artifcial barriers (tariffs) are lifted.

WCI’s key goal in 2019 is to be included in any infra- structure legislation that could be developed, and, second

You completed a signifcant acquisition and resultant to assure that the proposal does no harm to the inland wa- increase in your feet numbers way back in 2017. Do you see more consolidation ahead?

terways transportation industry. WCI’s constant drumbeat

We absolutely see more consolidation ahead. Why? Be- is achievement of the national goal of initiating construc- cause our markets (revenues) and weather (costs) are be- tion of the $8.8 billion portfolio of inland modernization coming more and more volatile. This volatility requires projects in the next 10 years with full and effcient fund- stronger balance sheets, with less, not more leverage. Our ing for on-time and on-budget delivery and performance. business calls for patient capital, which fts the family WCI just completed 95 congressional meetings in mid- owned business model. February. We have very strong bi-partisan support for our inland waterway’s infrastructure initiative in Washington.

Your acquisition of ACBL tonnage and assets came at an interesting time. With 20/20 vision and knowing If there are just three things you can help WCI accom- now what you might not have known then, how is this plish, on behalf of its stakeholders, in your current transaction working out for you? What went well, what role, then what would they be – and why?

might you have done better and what might you do dif-

As WCI Chairman, I intend to lend as much support to ferently when you contemplate a similar deal in future?

the effort to ensure that inland waterways’ lock and dam

All these acquisitions are somewhat unique. Our ac- infrastructure is included in any infrastructure initiative quisition has worked out very well for Campbell. All the ahead. I will also strongly support WCI’s work to educate assets and operations were on the Ohio River and were new members of the 116th Congress about the importance integrated seamlessly into our Campbell business. We look

March 2019 18 MN