Polli to Replace Lovetro as TRAC Intermodal CEO
TRAC Intermodal announced that Keith Lovetro, President and Chief Executive Officer, will retire on July 31, 2018. Jennifer Polli has been named to replace Lovetro as President and Chief Executive Officer effective August 1, 2018.Lovetro, who has led the company since joining in 2011, solidified TRAC Intermodal as a leading provider of intermodal equipment and services.Polli, who joined TRAC in 2012, has been a member of TRAC’s executive leadership team and has led multiple business functions at the ccompany, including pricing, asset management, marketing and product development.
TRAC Adds 700 Chassis to Port of NY/NJ
To support the continued cargo growth and demand for chassis in the NY/NJ Port, TRAC Intermodal is adding 700 new chassis to its Metro Pool, providing customers with easy access to high-quality equipment.The 700 new chassis are in addition to the thousands of refurbished chassis TRAC has already added to the Metro Pool. Over 40 percent of TRAC’s Metro Pool chassis fleet has now been upgraded with new or refurbished chassis, making this fleet one of the most modern and reliable in the Port.
TRAC Intermodal Doubles Mobile Service Unit Fleet
TRAC Intermodal said it is doubling the size of its Mobile Service Unit (MSU) truck fleet to help accelerate chassis repairs and increase intermodal shipment velocity at key rail ramps across the country.TRAC established its MSU program in 2016 to help ensure that high-quality, roadable chassis are readily available for customers. The MSU program adds needed repair capacity in select markets and has been expanded each year since it was launched.“TRAC is committed to providing…
TRAC Intermodal Joins Blockchain Initiative
TRAC Intermodal has joined the Blockchain in Transportation Alliance (BiTA), an organization for the development of blockchain standards and education for the transportation industry, with the goal of bringing together leading companies that are committed to developing blockchain technology. “TRAC Intermodal has joined BiTA to better understand the role that blockchain can play in improving transparency and creating greater efficiencies among all the stakeholders in chassis provisioning,” said Keith Lovetro, President and Chief Executive Officer at TRAC Intermodal.
TRAC Intermodal Gears Up for Gulf Coast Resin Exports
TRAC Intermodal is expanding and improving the quality of its chassis fleet in the Gulf Region to meet an expected surge in U.S. resin exports. The TRAC Gulf Regional Pool (TGRP) now offers the largest and most modern fleet of chassis in the ports of Houston, Dallas, Mobile, New Orleans and El Paso as well as several other locations. TRAC has refurbished over 20 percent of its TGRP fleet to ensure that customers have access to the highest quality and most reliable chassis in the Gulf port complex.
IICL Elects Lovetro as Chairman
The Institute of International Container Lessors (IICL) announced that Keith Lovetro, President and Chief Executive Officer of TRAC Intermodal, has been elected to the position of Chairman of the IICL for 2017, succeeding Simon Vernon, President of Triton Intermodal Limited. Lovetro began his career in the Transportation Industry in 1980 and has over 34 years of management and leadership experience. During that time, he has worked in the Regional LTL segment, and the Ground Parcel, Air Express, Integrated Air Freight and Air Freight forwarding segments.
TRAC Intermodal: Marine Chassis Conversions Underway
To help meet customer needs in the greater Mobile, Ala. market, TRAC Intermodal is converting marine chassis in its fleet from bias ply to radial tires. The program, begun in December 2016, will be completed by the end of March. TRAC’s customers in the Mobile market often face long hauls, heavy loads and hot weather conditions that require high-quality, reliable equipment. Radials provide customers with many benefits over bias ply tires including better quality and performance, improved fuel economy, greater durability and reduced off the road downtime.
New Lightweight Marine Chassis for the Houston Market
New lightweight marine chassis have been introduced by TRAC Intermodal for use in the Houston market. The new chassis, designed to help motor carriers move heavier container loads and still comply with vehicle weight regulations for U.S. roadways, will serve TRAC’s private pool and customer leases in Houston. Motor carriers in the greater Gulf region want to move larger loads of ethylene-based plastic resins to meet growing export demand for this product. New factories have ramped…
TRAC Intermodal Debuts New Chassis Pool
TRAC Intermodal has introduced TRAC Select, a premium chassis pool fleeted with a wide array of specialty chassis and services to meet specific customer and marketplace needs. TRAC Select is designed to provide equipment choice to motor carriers, Beneficial Cargo Owners and NVOCCs. “The introduction of TRAC Select is the latest in a series of customized product and service offerings that we’ve launched this year to meet the specialized, market-by-market needs of our customers,” said Keith Lovetro, President and Chief Executive Officer at TRAC Intermodal.
TRAC Intermodal Mulls Sale or IPO
TRAC Intermodal LLC is exploring a sale or an initial public offering (IPO) after pulling a $485 million bond offering last week, reports WSJ quoting the chief executive Keith Lovetro. Princeton, N.J.-based TRAC, one of the largest leasing companies for trucking equipment, owns about 315,000 intermodal chassis —steel frames with wheels that hook up to truck tractors. TRAC enlisted Morgan Stanley to sell the debt, with $325 million earmarked for a dividend to private equity firm Fortress Investment Group LLC, which bought the company in 2007, earlier this month.
TRAC Select Expands at US’ Largest Ports
TRAC Intermodal said it is expanding availability of its TRAC Select offering to meet growing demand among customers serving the country’s busiest ports including the Los Angeles/Long Beach and New York/New Jersey ports. Launched in February, TRAC Select is a premium chassis pool fleeted with a wide array of specialty chassis and services to meet specific customer and marketplace needs. Increased demand for TRAC’s specialized equipment at West Coast ports is driven by surging chassis volume during the current peak season…
TRAC Intermodal Unveils Two New Mobile Apps
TRAC Intermodal has introduced two new mobile applications that set out to improve and simplify customer access to emergency road service and online chassis booking: TRAC Interstar’s road service app, RoadStar, and TRAC Intermodal’s EZBook 2.0 app. The RoadStar app provides motor carriers with real-time visibility and tracking of their emergency road repair requests and provides seamless updates to all parties in the repair chain. Customers gain added confidence and peace of mind knowing that their repair requests have been received and quick actions have been taken…
TRAC Intermodal Named Top NY/NJ Chassis Provider
For the second year in a row, the Association of Bi-State Motor Carriers has named TRAC Intermodal the Best Overall Chassis Provider in the Port of New York-New Jersey for 2017. TRAC said it has made significant investments in its Metro Pool fleet and network of chassis yard facilities that service the NY-NJ market. Over 30 percent of the more than 17,700 chassis operating in the Metro Pool have been refurbished to like-new condition with LED lights, new tires/rims, electrical systems, brakes, improved airing systems and other enhancements.
TRAC Intermodal Helps Fuel NY/NJ Cargo Growth
TRAC Intermodal said it has made significant investments to expand and improve the quality of its Metro Pool chassis fleet in order to support the record growth in the NY/NJ port. TRAC said it has refurbished thousands of chassis to “like new” condition to ensure customers receive the highest quality and most reliable chassis available. The refurbished equipment features LED lights, OEM tires, new brake systems, all new electrical wiring and are painted TRAC Blue. “We have upgraded over 35 percent of our Metro Pool fleet and will continue to do so until the entire fleet has been refurbished…