The North America Chassis Pool Cooperative, LLC., (NACPC) a limited liability company organized pursuant to the Delaware Limited Liability Company Act, was incorporated on October 3rd, 2012. The Company was formed by a group of eleven U.S. motor carriers received approval from the U.S. Surface Transportation Board on January 22nd, 2013, to commence operations as a joint venture chassis pool cooperative.
With its authority NACPC has begun to acquire or lease intermodal chassis from ocean carriers and or chassis leasing companies and contribute these chassis into chassis pools in the U.S. An important objective of NACPC is to preserve the existing “gray pool” low cost chassis pool model previously established by the ocean carriers under their agreement the Ocean Carrier Equipment Management Association, Inc. (OCEMA). These open pools are managed by Consolidated Chassis Management (CCM) a pool management company owned by OCEMA. By pooling resources, NACPC will be able to achieve important cost savings with respect with to not only the acquisition and leasing of chassis but also on the requisite insurance costs and the costs of chassis modernization and refurbishing which are part of its strategic operations plans.
Contributory “gray pools” such as those managed by CCM allow users to draw any chassis from the pool regardless of ownership. The contributory pool model thus eliminates duplicative costs and maximizes the use of limited space at port and or inland intermodal locations by obviating the need for a contributor to have its own chassis storage facility. It also ensures and adequate supply of chassis for all users. CCM manages the chassis in the pools (including logistics, billing, inventory supply, maintenance and repair and the repositioning of the chassis) but usage arrangements are determined between the chassis contributor and its user. CCM pools foster competition by allowing motor carrier users to select from more than one chassis provider. In advancing its business objectives, NACPC has recently concluded an agreement for five years with CCM for pool management services starting with a pilot program in the Mid-South Consolidated Chassis Pool based in Memphis and Nashville, Tennessee. On February 27th, 2013, NACPC announced it first agreement to acquire intermodal chassis from China Ocean Shipping Company (COSCO). Thirteen hundred chassis entered the Mid-South pool on April 1, of 2013. Currently, NACPC operates more than 18,000 chassis in four CCM managed pools; MCCP, COCP, GCCP & SACP” in the boilerplate of our press release.
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On April 1, 2013 NACPC became a new Equipment Provider under the Uniform Intermodal Interchange and Facilities Access Agreement (UIIA). NACPC will utilize UIIA for the administration of the interchange contract and collection of insurance for motor carriers with whom they do business.
NACPC’s Board has authorized future acquisitions and is engaged with suppliers and leasing companies to expand its contributory chassis fleet. NACPC anticipates that some prospective new members may join its unique cooperative and contribute their chassis to the NACPC gray pool fleet.
Our twelve board members each operate regionally and collectively operate at most major port and rail intermodal facilities throughout the United States. Trucks-power units deployed by the members exceed 8,000 units and revenues generated are over $500 Million. These members actively participate in local, state and national transportation organizations and have jointly initiated the Cooperative as an entity capable of meeting the above mission for themselves as well as future additional members, ocean carriers and shippers.