Supply Side: IntelliTrans, MRC
IntelliTrans earns recognition in the Gartner Hype Cycle for Supply Chain Execution Technologies 2023 report. Also, railcar lessor Mitsui Rail Capital rebrands as Modern Rail Capital (MRC).
Mitsui Rail Capital
MRC Transitioning to Full JAML Ownership
JA Mitsui Leasing Ltd. (JAML), through its subsidiary JAML MRC Holding, Inc., and Mitsui & Co., Ltd. (Mitsui) have entered into a definitive agreement for JAML to take full ownership of North
Commentary
Counting on Rail Congestion as a Rail Equipment Demand Driver is Not a Sustainable Long-Term Strategy
Our July 12 rail equipment expert call takeaways are consistent with J.B. Hunt Transport’s (JBHT) recent comments on about sub-optimal 2Q22 rail service (below). This solidifies our expectation of an eighth consecutive lease rate improvement for GATX, which reports on July 21. We continue to favor the shares into the print as detailed in our July 7 machinery and transportation OEM preview, “Revisions Into the Print.”
People News: Keolis, MRC, TRAC
Alex Wu is joining Keolis North America as Vice President of Digital Transformation and Chief Information Officer. Also, at Mitsui Rail Capital (MRC), Ashley Dietiker is taking on the role of Commercial Operations and Customer Service Manager; and at TRAC Intermodal, Jake Gilene is succeeding Jim Bowe, who retired as Chief Commercial Officer on March 28.
People News: Burns Group, Mitsui Rail Capital
Burns Engineering Inc. promoted Derek Brown to Director, Washington, D.C. Region. Also, Mitsui Rail Capital appointed Bryan F. Vaughan Vice President of Sales, Marketing and Business Development.
Kevin Cook to Lead MRC
Global railcar leasing company Mitsui Rail Capital, LLC (MRC) has elevated Kevin Cook to President, succeeding Dan Penovich.
O’Bryan to Lead A. Stucki Co.
John O’Bryan has been appointed CEO of A. Stucki Co., a Pittsburgh, Pa.-based provider of engineered components, systems and services for the railroad industry and other markets.
People News: Mitsui Rail Capital Adds Director; MERMEC, VPs
Mitsui Rail Capital, LLC (MRC) has hired Jeff Rasmussen as Director of Sales and Marketing; MERMEC, Inc. has appointed Fred Ange to Vice President, Chief Financial Officer and Chief Compliance Officer, and Soheil Saadat to Vice President of Business Development and Sales.
MRC Names Cook VP of Sales, Marketing, Business Dev.
Global railcar leasing company Mitsui Rail Capital, LLC (MRC) has appointed Kevin Cook as Vice President of Sales, Marketing and Business Development.
Mitsui combines with JA Mitsui Leasing, Norinchukin for North American Railcar leasing
Mitsui & Co. Ltd. has entered into an agreement with JA Mitsui Leasing Ltd. (JAML) and The Norinchukin Bank for their participation in Mitsui Rail Capital LLC (MRC), which operates a railcar leasing business in North America. JAML and Norinchukin will acquire shares of MRC through their newly established special purpose company, JAML MRC Holding, Inc. (JMRCH). Following this transaction, Mitsui and JMRCH will hold 50% of MRC’s equity shares, respectively.