Railcar leasing specialist broadens offer

Cincinnati-based PNC Equipment Finance has announced the completion of its railcar solutions for corporate customers with the addition of full-service operating railcar leases.

The company is one of only two domestic banked-owned equipment finance company that owns, manages and leases its own railcar fleet as well as provides traditional forms of equipment financing.

Its new solution for large to mid-size businesses embraces short- or long-term leases; new and/or used railcars; a wide array of car types, including covered hoppers, flat cars and gondolas; a variety of financing options and competitive pricing; and in-house maintenance management.

“PNC Equipment Finance offers our customers a single source for all their rail needs to move raw materials, finished product and everything in between,” said Ken Roseberry, senior vice president, who joined PNC Equipment Finance in 2015 as the resident rail expert responsible for the development of the new full-service operating rail portfolio.

According to government data, more US freight moves by rail than any other transport, accounting for approximately 40% of all activity, and includes automobiles, agricultural products, construction materials and electronics. Between 2010 and 2035, the US rail system is projected to experience a 22% increase in total amount of tonnage moved.

“Railcar demand has remained steady and aligned with overall economic and population growth in the US. Our growing fleet offers us an investment with control to maximize the deployment of each railcar over the assets’ remaining useful life, to generate the best returns, to create revenue, and to manage risk with our own asset expertise,” said Roseberry.

With more than two decades of experience with rail car leasing and fleet management, Roseberry most recently managed the rail lease and private car owner’s fleet for the David J. Joseph Company (DJJ), one of the largest scrap brokers/processors in the US.