Jack Cooper Transport has been working with its stakeholders on a way of getting its business back in line with its balance sheet and its president Alex Meza says that following reorganisation under Chapter 11 proceedings, and with a new owner, the company is best placed to invest for the future
An aggressive acquisition strategy that ran into automotive market contraction, combined with union contracts with limited flexibility, forced Jack Cooper Ventures, the US’ biggest car carrier, into Chapter 11 bankruptcy proceedings this past summer.
“Generally speaking, the balance sheet had outgrown the business and we needed to find a way to get it back in line with the size of our operation,” said Alex Meza, president of Jack Cooper Transport…
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Volkswagen is sending 4,800 vehicles from Germany to North America on board a ro-ro vessel powered by liquified natural gas (LNG). The Siem Confucius, which was delivered to Siem Car Carriers in March this year, is headed for Mexico but will be making stops in Canada and the US..
At the Automotive Logistics Mexico 2020 conference, Antonio Zepeda Torres, commercial director for CSI Group, tells editor Joanne Perry about the company’s recently completed, six-storey car storage facility at Veracruz – the busiest port in the country for automotive traffic. He also discusses the wider challenges of transporting finished vehicles in Mexico.
Firefighters were called to the Blount Island vehicle handling terminal at the US port of Jacksonville (Jaxport) last Thursday when a fire broke out on the Höegh Xiamen car carrying vessel.
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