Rand Logistics Joins The Momentum Party For Shippers

04:34 11/07/2017

Shipping and logistics stocks like Diana Containerships Inc. DCIX  and Top Ships Inc. TOPS  have been having monster rallies these past few days. The latest stock to join this party is Rand Logistics, Inc. RLOG  that ripped over 300 percent to close near day high at $1.90. Sympathy plays in the sector have seen bullish investors cash in triple digit gains within a short period of time.

The last press release from Rand Logistics was the announcement of the results of the Marine Miracle month program. The company announced they will be donating in excess of $132,000 to children’s charities designated by its customers as a result of its second annual Marine Miracle Month Program, an increase of more than 5% over last year’s program results.

In June 2017, Rand announced the Company will donate $0.05 for every ton of cargo carried by its fleet during the month of August 2017 to nonprofit organizations with a primary focus on the health and wellbeing of children. For the program’s second year, Rand is providing its customers the opportunity to select the children’s charity of their choice and is making the donations in each participating customer’s honor. The donation amount is based upon the total tons each customer shipped during the month of August.

“We are thrilled and inspired by the continued interest and positive response that our customers, employees, and community partners have shown towards the initiative, enabling us to exceed last year’s program results. The donations based on cargo carried in August have been augmented with additional donations from individuals, a silent auction and other activities that help support our goals,” stated Aaron Degodny, Rand’s Chief Commercial Officer. “With approximately 30 participating customers again this year, Marine Miracle Month has created a vehicle for Rand to give back to the many communities in which we operate and expand the reach of our corporate social responsibility efforts, while strengthening partnerships with our valued customers.”

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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