Genesee & Wyoming,SEACOR Form JV To Operate Rail Ferry Service Between US&Mexico

(RTTNews) - Genesee & Wyoming Inc. (GWR) and SEACOR Holdings Inc. (CKH) announced the formation of a 50/50 joint venture to own and operate CG Railway, LLC (CGR), a subsidiary of SEACOR recently acquired through its acquisition of International Shipholding Corporation. Terms of the joint venture were not disclosed.

The CGR business is comprised of a U.S. Class III freight railroad that connects in Mobile with G&W's Alabama & Gulf Coast Railway (AGR), BNSF (via AGR), Canadian National (CN), CSX, Kansas City Southern (via CN) and Norfolk Southern and connects in Coatzacoalcos with Ferrosur, the railroad serving central and southern Mexico; two 585' roll-on/roll-off rail ferries, each with the capacity to transport approximately 115 railcars per voyage; Long-term agreements to operate purpose-built rail ferry terminals in the ports of Mobile and Coatzacoalcos; a 10,000-square-foot, food-grade, truck-to-rail transload facility and a railcar repair shop both located in Mobile.