Intermodal Briefs: Sasser, Savage/UP
Written by Marybeth Luczak, Executive Editor
Savage on Sept. 1 celebrated the grand opening of a new terminal at UP’s Pocatello, Idaho, rail yard for transport of containerized hay and other agricultural commodities to Northwest Seaport Alliance ports in Washington state.
Sasser Family Companies (Sasser) is acquiring Singapore-based global container lessor Falcon Lease Holdings Pte. Ltd. and its group of companies. In addition, Savage has opened Idaho’s first intermodal rail terminal.
Sasser on Sept. 6 reported finalizing an agreement to buy Falcon Lease, expanding its transportation asset leasing and management services to include global tank container leasing. Among Sasser’s other subsidiaries: Chicago Freight Car Leasing Co. (CFCL), Union Leasing Inc., CF Rail Services LLC, Xcēd Aviation Services LLC, and NxGen Rail Services LLC.
The move “allows us to serve a new customer base across Asia Pacific, Europe, [and] North, Central and South America, and enables us to bring our experience to bulk oceangoing container leasing,” Sasser CEO Jeff Walsh said. ”I am extremely optimistic about the opportunities this presents and look forward to bringing our best-in-class customer experience to a new market.”
“The Falcon Team and I are thrilled to be partnering with Sasser Family Companies—a group that brings financial strength, similar culture and long-term business ambitions,” said Falcon Lease President Mike Cooper, who founded the company in 2019 to offer integrated and tailored services for maritime asset leasing.
In related developments, Sasser’s CFCL has earned the Equipment Leasing and Finance Association’s 2021 Operations & Technology Excellence Award.
Savage on Sept. 1 celebrated the grand opening of the Savage Railport-Southern Idaho terminal at Union Pacific’s (UP) rail yard in Pocatello. It supports outbound container shipments of agricultural products and other dry-bulk materials to world markets such as Asia via Northwest Seaport Alliance ports in Tacoma and Seattle, Wash.
In March 2021, Savage and UP teamed to launch the terminal, the first to serve the state of Idaho.
“This partnership makes the most of the containers’ round trip and saves truck drayage costs for Idaho shippers by providing a direct rail option,” UP Vice President Marketing and Sales, Premium Kari Kirchhoefer said during the announcement earlier this year.
Since June, about 30 containers have been loaded per day for rail transport, with the goal of shipping 350 to 400 containers per week, according to a Idaho State Journal report.
