Ocean World Lines (OWL), a global, single-source NVOCC (non-vessel operating common carrier) and subsidiary of Pacer International, announced today the opening of a new office in Houston to service all cargoes moving to and from the region. In addition to containerized and breakbulk freight, OWL Houston will handle project and out-of-gauge cargoes too large for standard containers as well as logistics solutions specific to the petro-chemical industry. “We are opening an office in Houston to support our customers’ needs in the region and our mission to grow US exports. Texas is ranked number one in the nation by total value of goods exported, according to the latest US Census data, and Houston is the ideal location as it’s equipped to handle breakbulk shipments. It is a fast growing region and well-known for exporting drilling, petro-chemical related supplies and other large-volume products, such as resins,” says Dan Gardner, OWL’s CEO. Gardner notes that growth at the Port of Houston also is being driven by the ongoing Panama Canal expansion, which is expected to increase Houston-bound containerized shipments by150 percent over the next two decades to 4.5 million TEUs annually. “The weak dollar is propelling exports right now as well, helping make the Port of Houston a major growth region in the U.S.,” says Gardner. Houston already is the busiest U.S. port in terms of foreign tonnage and is ranked second overall, he notes. Heading the Houston team is Abel Edgington, a 16-year veteran of logistics operations and management in the Texas area. Edgington, who will serve as regional branch manager, was previously with Triton Overseas Transport, RCS Intermodal and Expeditors International. “Abel brings strong regional expertise to the new Houston office and his team will be responsible for helping increase exports and developing new business. In fact, we recently hosted an Incoterms® seminar in Houston as part of our nationwide trade seminar series to educate importers and exporters about the challenges of the global marketplace and to make their job easier,” says Gardner. OWL’s Houston office offers a full range of services including ocean and air freight, cargo consolidation, packing and crating, trucking and warehousing, and de-consolidation and distribution.
Shares of Pacer International (Nasdaq:PACR) were gapping up Thursday morning with an open price 14.6% higher than Wednesday's closing price. The stock closed at $4.80 yesterday and opened today's trading at $5.50.