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We listen to gain a clear understanding of our customers' needs and business goals. We act with a "do-it-right the first time - every time" attitude, focusing on solutions that improve efficiency and reliability. We deliver the right equipment and services at the right time and price. We create innovative solutions. We are Mitsui Rail Capital.

More than railcars. More than capital. More than fleet management. More than expected.
Global Presence
Mitsui & Co. Ltd.
Mitsui Rail Capital, LLC is a subsidiary of Mitsui & Co., Ltd. - a leading trading and global investment company in Japan with roots dating back to the 15th century. Operating through 15 diverse business units, Mitsui companies are active in a wide range of consumer goods manufacturing and distribution; biotechnology; marine and aerospace technology; commodities trading; telecommunications; iron and steel production, and; logistics and transportation among others. With more than 40,000 employees in over 90 branches and 560 affiliated companies worldwide, Mitsui & Co., Ltd. (“Mitsui”) is now one of the world's largest integrated trading companies.

In 1996, Mitsui entered the U.S. railcar leasing business with the goal of combining the worldwide capabilities and financial advantages of Mitsui & Co. with an agile, customer-focused railcar leasing and services company. With Mitsui's acquisition of Unitrain from MidAmerican Energy in 1998, MRC was founded. The acquisition served as a springboard into railcar leasing, and logistics services. Today, MRC continues the hands-on service that has enabled the company to become a major player in the railcar leasing industry.

Mitsui's strategy is based on developing high-value-added operating-lease services that incorporate Mitsui's unique capabilities and business experience in financial management, logistics management and information management. Mitsui has been active in global railway projects, developing its railway leasing and service capabilities as a core business over the past decades. Mitsui Rail Capital has an established presence with a global fleet that includes more than 200 locomotives and 13,000 railcars, operating in the United States, Europe and South America. Headquartered in Chicago, IL, and partnerships with our sister companies in Amsterdam, Munich and Sao Paulo, allow Mitsui Rail Capital to offer operating leases and services for a variety of equipment types throughout the world.

Mitsui Rail Capital Europe
Mitsui Rail Capital Europe B.V. (MRCE) was established by Mitsui & Co., Ltd. & Mitsui & Co. Europe Plc. (in U.K.). in 2004. MRCE began locomotive leasing operations in October 2004. Mitsui integrated the former Siemens Dispolok GmbH in 2006, and is now the European market leader in locomotive leasing and service.

Mitsui Rail Capital Latin America (MRCLA)
Mitsui Rail Capital Latin America (MRCLA) was established by Mitsui & Co., Ltd. and began providing railcar leasing services in 2004. MRCLA's main area of activity is the leasing of freight wagons (railcars), particularly for iron ore and agricultural products. The company's main customers are the Brazilian railway freight companies Vale, ALL Group, and Brazil Ferrovias Group.
Guiding Values
Mitsui has developed a set of principles that are reflected in the activities and actions of every person in the organization. These principles create value for our customers, our employees and our stakeholders, and have helped shape the Mitsui Rail Capital of today.

  • We are committed to deliver competitive, dependable and effective products and services to ensure safe and efficient rail transportation.
  • We are professional, sincere, and committed to integrity; we work as team members while at the same time we are creative, dynamic, and always challenging with a global perspective.
  • We are totally committed to be customer-focused - developing and providing relevant solutions to our customers' satisfaction.
  • We are fully responsible in a local and global society as a corporate citizen.
71 South Wacker Dr., Suite 1800
Chicago, IL 60606
Phone: (312) 803-8880
Fax: (312) 803-8890
Our Philosophy
Rail transportation is a complex business where purchasing assets requires substantial capital and day-to-day operations involve logistical, maintenance, regulatory, and utilization expertise. At Mitsui Rail Capital, we manage a complex array of asset management, logistics and maintenance issues using our knowledge, skills and the abilities of our team members to deliver the best result.

  • Industry Knowledge (applying supply chain best-practices within your market)
  • Financial Expertise (developing solutions to meet your financial goals)
  • Maintenance / Logistics Services (simplifying the asset management process)
  • Inventory Management Expertise (managing distribution to optimize desired inventory levels)
  • Product Knowledge (railcar & component selection)

With a solid understanding of your needs, MRC can deliver the right products and service to help you create the most efficient movement of your product from Point A to Point B and beyond.
The foundation of any successful relationship starts with the customer experience. At Mitsui Rail Capital, LLC (MRC), we hire the brightest and most-capable individuals, with railcar industry experience and a proven dedication to putting the customer first.

We listen carefully and focus on solutions to improve efficiency, reliability and reduce costs. Our customers have come to rely on our insights and depth of resources to deliver them the right services and equipment at the right time and price.

Tomoyuki Moriyama
Executive Director
Moriyama has over 20 years of experience in various positions in Mitsui & Co, Ltd., and subsidiaries, including extensive knowledge in the transportation industry. He is responsible for executive oversight of MRC and its strategic alignment with Mitsui & Co., Ltd. Moriyama has been involved with the railway business for more than 20 years.

Chris Herrman
Vice President Finance & Treasurer
Chris joined MRC in 2012 and is responsible for finance and accounting activities. Prior to MRC, he served as the CFO of a technology development organization serving the energy markets. Chris began his career in commercial finance holding credit and sales roles at Merrill Lynch Capital, Heller Financial and LaSalle Bank.

Peter Jones
Vice President of Business Development
Peter leads MRC's new business development efforts and supports Mitsui's global efforts to expand rail transportation services. Peter works closely with our sister companies and Mitsui & Co., Ltd. Peter has a Bachelor's degree in Mechanical Engineering and Masters in Rail Systems Engineering.

Robin Andersen
Vice President of Operations
Robin is responsible for fleet operations, customer service and mechanical and logistics services including MRC's proprietary OnTrax logistics management/solutions and all mechanical management services. Robin also serves on MRC's management team. Robin has over 20 years of experience in the railcar maintenance area and has a Bachelor's degree in Accounting.

Michael Sbragia
Manager-Logistics/Fleet Management
Mike joined MRC in 2006 and is responsible for daily fleet operations activities including all owned and managed railcar fleets. His background includes a Bachelor's degree in Business and 11 years railroad transportation experience including leasing, chemicals, and third party fleet and logistics management.

Tod McCrea
Manager–Logistics/Fleet Management
Tod joined MRC in 2005 and is responsible for daily fleet operations activities including all owned and managed railcar fleets. Tod also provides customer support for OnTrax, MRC's proprietary web-based logistics support tool. Tod has extensive knowledge of coal logistics and rail transportation, working with some of the country's largest utilities.

Daniel Penovich
Vice President of Sales & Marketing
Dan has thirty years experience leading commercial teams in the railcar industry and has established relationships with many of Mitsui Rail Capital's valued partners. He served as Vice President/Executive Director at GATX, leading sales activities and business development, and has also held sales positions at Union Tank Car Company and North American Car Company.

Chris Gerber
Director of Sales & Marketing
Chris began his railroad career with BNSF where he held several operating positions before moving to the railcar leasing industry. His sales experience includes Class 1 railroads, Short Lines and most shipper product lines. Along with serving strategic areas of the U.S., Chris also has responsibility for MRC customers in Mexico.

Scott Carroll
Director of Sales & Marketing
Scott is responsible for leading the sales and marketing activities for the southern Midwest and western states, as well as Mexico. He brings ten years of sales experience to the MRC Sales Group with four years spent in the railcar leasing market.

The Environmental Choice
As environmental standards and fuel costs have increased, rail transportation has become a more important part of today’s supply chain. If you are concerned with solutions that are efficient and environmentally responsible, rail transportation is now the obvious choice.

A gallon of diesel fuel moves one ton of freight an average of 406 miles by Rail, which is three times more fuel-efficient than trucks. Efficient use of fuel means less cost, and reduced greenhouse gas emissions and pollution.

Moving more freight by rail also reduces traffic congestion, improving air quality and automobile fuel efficiency. A single intermodal train can take 280 trucks (equal to 1,100 cars) off congested highways, and trains carrying other types of freight can take up to 500 trucks off the highway. It is estmatedthat switching 85 percent of long-haul trucking to rail could reduce U.S. oil consumption by almost 12 percent and total U.S. emissions by about 4 percent.
MRC partners with customers and shippers to purchase equipment from them when they wish to sell assets and lease them back for financial or other reasons. MRC also acquires portfolios of railcars from other leasing companies or financial institutions, or through partnership or acquisition of other leasing companies. Finally, MRC works with the most respected railcar builders to custom order new railcars featuring the latest technology to reduce maintenance requirements and support in-service time.
Our Fleet
Our owned and managed fleet has rapidly grown to more than 10,000 railcars serving North America. Through careful investing and management, our fleet is among the youngest and best maintained in the industry, providing reliability and improved efficiency to shippers. Using input received from its customers, MRC continually adds the products and services needed to meet evolving freight transportation requirements. It is one of the reasons many of North America’s largest rail shippers already rely on MRC to support the vital role railcars play in their organization.

MRC matches the design of each railcar leased to individual needs, ensuring the right car type to deliver the greatest efficiencies.

Once the right type of railcar is identified, MRC experts are actively engaged in the car building process, auditing the build and inspecting the cars prior to delivery.

Our diverse product mix is designed to cover a wide range of commodities including: Coal; Cement; Sand; Grain; Plastics; Paper; Consumer Goods; Lumber; Steel; and Scrap Steel. In addition to standard railcar types in the MRC fleet, we also secure specialty railcars for our customers' upon request. For more information and specifications on a railcar type please click on one of the links below. If you are unsure which railcar to choose, select your commodity from the list to the right.

Coal Hopper
Aluminum Coal Hoppers are specifically designed to carry the maximum amount of coal in order to maximize efficiencies and to unload via hopper gates on the bottom of the railcar. Many of the coal hoppers MRC supplies are equipped with both gates for bottom unloading as well as rotary couplers, which allow for rotary dumping of the car’s contents.

MRC also provides Open-Top Hoppers for bulk commodities that are unaffected by weather and unload from beneath the car.

Coal Gondola
Aluminum coal gondolas are high-capacity, open-top railcars that are specifically designed to maximize coal loading. These railcars have solid bottoms and can only be used when rotary dumping is available.  Their design makes them the leader in coal carrying capabilities, as these railcars can carry up to 122 tons of coal.

Centerbeams are cars designed for carrying bundled building supplies including dimensional lumber, wallboard, and fence posts. They are essentially bulkhead flatcars that have been reinforced by a longitudinal I-beam truss down the center of the railcar.  Along with adding strength to the railcar, the center truss helps protect cargo from damage caused by loads moving during transit. Due to their design, the railcars must be loaded symmetrically, with half of the payload on one side of the partition and half on the other.

Covered Hopper
MRC's Small Covered Hoppers are all steel, and are designed for carrying dry bulk loads which require protection from the weather, including cement, sand, roofing granules, and other materials. The railcars are equipped with three 30" diameter roof hatches for loading and two gravity discharge outlets.

Covered Coil
MRC offers two choices of covered coil gondolas built for coils of finished steel; a transverse trough coil car as well as a longitudinal trough design. The coil gondolas feature steel covers which protect the coils from damage caused by weather.

The railcars are equipped to handle steel coils up to 84" in diameter.

MRC has a young fleet of boxcars that feature all-steel construction and a variety of door configurations, including plug or sliding. These cars are designed to service appliance, paper, auto parts, construction material, consumer goods and other shipments.

Mill Gondola
Mill gondolas are available to meet the needs of those wishing to ship scrap steel and other commodities unaffected by weather. MRC's mill gondolas are among the very best maintained in the industry.

These are modern, single platform railcars designed for 53' containers. The single platform offers maximum flexibility while the size of car accommodates the largest, industry standard containers.

MRC works with customers to design and acquire commodity specific railcars or railcars designed with special accommodations. Our design and engineering team will work closely with you to match a railcar to your specific requirements, and to maximize shipping efficiencies.

Shipping solutions require more than railcars and Mitsui Rail Capital's integrated approach includes a variety of lease options that enable financial and operational flexibility. MRC's leasing strategy is based on developing high-value-added operating lease services that incorporate unique capabilities and business experience in financial management, logistics management and information management.

Seasoned experts provide counsel on the complex operational and management aspects of shipping by rail, recommending solutions that lead to competitive pricing and financial stability – no matter the size or structure of operations. Because purchasing railcars comes with higher costs in the form of capital requirements, maintenance and regulatory issues, shippers looking to invest in their businesses and not in railcars, immediately realize the value of a partner with leasing expertise and financial resources as they gain flexibility and bottom-line benefits.
Lease Types
Determining the right lease type varies depending on individual circumstances. Working closely with management, MRC will determine and implement a financing structure suited to individual needs. Flexible financial options include: full service, net and per diem leases; 1 to 5 year lease terms, or as needed; new or used equipment options, and; sale/leaseback programs.

Full Service Operating Lease
MRC is responsible for and performs all necessary normal maintenance related to normal usage. MRC also retains responsibility for all property taxes and insurance.

Net Operating Lease
The lessee is responsible for all costs associated with the operation of the railcar, including maintenance, property taxes and insurance.

Per Diem
Utilization lease whereby rent payments are determined based on the time and mileage a railcar is used in a given month.

Sale Leaseback
MRC buys the railcars from a customer and then leases them back to the company, increasing cash flow and capital for other investments within the company.
Fleet Management
Managing the daily operations of railcars requires dedicated experts with up-to-date metrics and highly specialized logistics knowledge. MRC has developed comprehensive support services that utilize real-time tracking technology to provide comprehensive unit train tracking which improves efficiency and scheduling. The data is dynamically consolidated to provide ease of use for customers. MRC also provides extensive support for railcar maintenance, including online records and reports that help reduce overall operating costs and increase utilization.

Launched in 1996 to maximize railcar performance, OnTrax is MRC's proprietary Web-based logistics and maintenance support tool. Users have secure on-line access to current and historical analysis and reporting.
Asset Management
MRC's transportation managers take complete responsibility for the coordinated movement of railcar shipments. Using established practices to expedite loaded and empty railcar movements, MRC works with customers to review available capacity; project delivery requirements; and to develop schedules that optimize the fleet. These comprehensive logistics services ensure that trains are expertly navigated through the complexities, regulatory challenges and bottlenecks of the nation's nearly 170,000 miles of railroad track.
Logistics Services
Logistics is defined as the process of planning, implementing and controlling the efficient flow and storage of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption for the purpose of conforming to customer requirements. When companies harness the available technology and metrics they streamline operations and create cost savings. With tight margins and just-in-time inventory systems, the most up-to-date information in all phases of shipping is vital. MRC’s industry experts are dedicated to evaluating and managing this information to create supply chain shipping solutions that  optimize efficiency. Our list of logistics services include:

Equipment Utilization
MRC helps right-size fleets and maximize utilization by tracking and expediting unit train movements. We also provide expert advice on preventative maintenance and leasing solutions for short-term trips.

Minimize Operating Costs
We provide accurate estimates of train arrivals that enable customers to better plan and schedule their operations.

Management of Coal Inventories
By correlating proprietary burn rate forecasts with our knowledge of train cycle times, MRC is able to help a power plant achieve their coal inventory targets more effectively.

Monitoring Freight Contracts
MRC provides monitoring and settlements for cycle times that exceed the railroad freight contract as well as deficit tonnage.

Coal Quality Information
MRC provides real-time coal quality data to effectively manage plant operations, maintain environmental compliance and price settlement.
At Mitsui Rail Capital, we know that preventive maintenance on railcars yields the best results over the long haul by reducing costly, unscheduled repair work. Our maintenance management experts can customize services that best suit your needs. The benefits include:

Reduced Equipment Downtime
Coordinating railcar repairs with scheduled plant maintenance improves equipment availability and reduces railcar needs and costs.

Preventive Maintenance
Allows maintenance to be performed in lower-cost private contract shops reducing more costly unscheduled repair work.

Maintenance Expense Forecasting
Provides a tool to accurately forecast future expenses based on varying mileage and loading levels.

Warranty Monitoring
Tracks railcar component performance to detect premature wear or failure.
Launched in 1996 to maximize railcar performance, OnTrax is our proprietary Web-based logistics and maintenance support tool. OnTrax answers real-world transportation questions ranging from, "Where's my shipment?" to "What's my fleet's cost per mile?" Users have secure on-line access to current and historical analysis and reporting.

OnTrax Operations automatically generates and/or loads shipment information from a wide variety of data sources, creating and utilizing shipment symbols and identifiers. OnTrax continuously traces shipments in transit to electric power plants.

The OnTrax Operations Status Board - displays and flags current trains, present locations, ETA's, and items such as:

OnTrax receives, processes and validates all incoming railcar mileage, repairs and equipment health data. Once data has been validated, it becomes available for reporting and analysis.