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American Commercial Lines, the second-largest U.S. barge owner, filed a voluntary prepackaged Chapter 11 bankruptcy in Houston. The restructuring converts $1 billion of debt to equity and adds $200 million in new equity plus $690 million in debtor-in-possession financing.
An analyst said the process could benefit the inland barge industry overall.
Restructuring a large dry-cargo barge fleet that carries grain could ease overcapacity and support freight rates on the Mississippi, which lowers effective costs for grain shipments.
freightwaves.comGreg MillerFeb 10, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
