Fednav celebrates in Cleveland

November 25, 2014

FEDNAV CELEBRATES IN CLEVELAND

Montreal, November 26, 2014 – Fednav Limited yesterday held a reception on board one of its vessels, the Federal Mayumi at the Port of Cleveland to celebrate a trio of anniversaries: the 70th year since the founding of the company; 55 years of continuous general cargo liner service from FALLine; and 50 years since the establishment of its terminal division, FMT (Federal Marine Terminals).

Guests on board, representing clients of the company, heard remarks from Mark Pathy, President and co-CEO of Fednav Limited, William Friedman, President of the Port of Cleveland, and Betty Sutton, Administrator of the Saint Lawrence Seaway Development Corporation.

FALLine cargo enables industries in Cleveland, Northeast Ohio, and West Virginia, to generate jobs in manufacturing in the entire “Opportunity Belt,” as Seaway Administrator Sutton so aptly names the Great Lakes region.

Fednav participates actively in the regional economy, creating impact through real commitment: 15 new Lakes-suitable vessels will deliver to the company in 2015 and 2016, the first being the Federal Baltic next May. This represents an investment of over $400 million from Fednav for the future of the Lakes.

FALLine operates a scheduled cargo liner service from Europe to ports in the Great Lakes. In 2014, it will bring 205,000 tons of steel to Cleveland. This is a 28 percent increase over 2013 and a remarkable 840 percent increase over 2009, making it the best year in Cleveland for FALLine since 1996—the total tonnage of general cargo since that year will be over 2 million tons.

FMT delivers customized cargo handling services in North America, and has operated a terminal at the Port of Cleveland since 1997. FMT will handle roughly 500,000 tons of general cargo this year at the port, a 23 percent increase over 2013 and a 200 percent increase over 2009. A third of this cargo is routed to its final destination through the logistical services of Fednav Direct.

"This trio of milestones highlights Fednav’s commitment to Cleveland and to the Great Lakes,” said Mark Pathy. “It is because of very successful divisions like FALLine, FMT, and Fednav Direct, through sustained growth and through financial commitment represented by new vessels, that we can look forward to the coming decades with strong optimism."

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Contact: Marc Gagnon, Director, Government Affairs. 514.518.6470 | mgagnon@fednav.com

Fednav Limited
Fednav is an international shipowning company headquartered in Montreal. Its principal activities include the transport of bulk and general cargo worldwide. The company has offices in Antwerp, Barbados, Hamburg, Rio de Janeiro, London, Singapore, and Tokyo, as well as regional offices in Canada and the United States. Fednav also has terminal, logistics, ice analysis, and shipping agency services and divisions. It employs 260 people and nearly 2000 crew members and stevedores.

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