Press Release
Trailer
Bridge to Increase Deployed Capacity Approximately 21% with Additional Vessel;
New Service to Include Dominican Republic
Tuesday April 3, 12:16 pm ET
To
Take Delivery of 1,000 New 53' Containers and 850 New 53' Chassis
JACKSONVILLE, Fla.--(BUSINESS
WIRE)--Trailer Bridge, Inc. (NASDAQ: TRBR - News) today reported that it will
deploy one additional Triplestack Box Carrier® vessel
in a service that will augment its existing Puerto Rico service and add the
Dominican Republic as a market served by the Company's unique 53'
transportation system. The new service is expected to commence in the third
quarter. In addition to linking the ports of Jacksonville and Puerto Plata,
Dominican Republic, the new service will connect San Juan with Puerto Plata and
will provide additional service between Jacksonville and San Juan. The
Dominican Republic, with a population of more than nine million, has a $74
billion economy that grew 7.2% in 2006. On March 1, 2007, the White House
announced that DR-CAFTA has been implemented with respect to the Dominican
Republic and this agreement is expected to further enhance trade with the
Dominican Republic.
The deployment of the additional Triplestack Box Carrier®, which has a capacity of 281 53'
containers, will represent a 20.5% increase in total capacity to all markets.
The Company will then have five vessels deployed in liner service, with two remaining
Triplestack Box Carrier® vessels available for
charter or additional liner service expansion.
Trailer Bridge will begin taking
delivery of 1,000 new 53' owned containers and 850 new 53' owned chassis in
May. This equipment is sufficient to operate the newly deployed vessel at full
utilization and is being built to the Company's specifications. The containers
will have more inside cubic space than Trailer Bridge's existing containers and
will have 107" door openings, 5" above existing containers. Included
in the equipment order will also be five special prototype 53' containers, the
first such containers built in the world, which the Company believes could have
particular applicability in its markets and which it will be test-marketing
with selected shippers.
John D. McCown, Chairman and CEO,
said, "After much analysis, we have developed a plan that is an exciting
and logical next step for our superior 53' transportation system. This is a
metered expansion relative to the large markets we serve but it brings with it
multiple benefits for shippers, including more frequency, more lanes and more
inside cube. Our plan fits with a goal of building upon the tangible
differences in a unique system whose 79.5% fourth quarter operating ratio made
us the best performing liner operator in the world. Continued investment in
innovative hard assets is a winning strategy in the Jones Act liner sector and
we are looking forward to extending the benefits of our integrated 53'
transportation system to current and potential new customers."
Trailer Bridge provides integrated
trucking and marine freight service to and from all points in the lower 48
states and Puerto Rico, bringing efficiency, service, security and
environmental and safety benefits to domestic cargo in that traffic lane. This
total transportation system utilizes its own trucks, drivers, trailers,
containers and U.S. flag vessels to link the mainland with Puerto Rico via
marine facilities in Jacksonville and San Juan. Additional information on
Trailer Bridge is available at the www.trailerbridge.com website.
This press release contains
statements that constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The matters discussed in this
press release include statements regarding the intent, belief or current
expectations of the Company, its directors or its officers with respect to the
future operating performance of the Company and its asset utilization.
Investors are cautioned that any such forward looking statements are not
guarantees of future performance and involve risks and uncertainties, and that
actual results may differ materially from those in the forward looking
statements as a result of various factors. Without limitation, these risks and
uncertainties include the risks of implementing the new deployment, economic
recessions, severe weather, changes in the price of
fuel, changes in demand for transportation services offered by the Company,
capacity conditions in the Puerto Rico and Dominican Republic trade lanes and
changes in rate levels for transportation services offered by the Company.
Contact:
Trailer Bridge, Inc.
John D. McCown, 800-554 -1589
Chairman & CEO
or
TRBR Investor Relations Counsel:
The Equity Group Inc.
Adam Prior, 212-836-9606
Devin Sullivan, 212-836-9608