CHARLESTON, W.Va. — Railroads are moving more traffic than a year ago, but investors aren’t piling into railroad stocks. The stock prices of four of the five Class I railroads trading on the New York Stock Exchange are down this year despite railroads’ volumes being flat, or up slightly, through the first half of 2024 […]
WASHINGTON — A subcommittee of the House Committee on Transportation & Infrastructure has scheduled a hearing on rail safety for Tuesday, July 23. The Subcommittee on Railroads, Pipelines, and Hazardous Materials will hold the session, “Examining the State of Rail Safety in the Aftermath of the Derailment in East Palestine, Ohio,” at 2 p.m. ET […]
WASHINGTON — U.S. weekly rail traffic continues to run ahead of 2023 levels, thanks to intermodal volume, according to statistics from the Association of American Railroads. For the week ending July 13, total U.S. volume was 483,806 carloads and intermodal units, an increase of 1.3% over the same week in a year ago. That includes […]
PORT CLINTON, Pa. — Reflecting the railroad’s 60% increase in coal business over the last two years, the Reading & Northern Railroad announced it has made changes to its management structure to better deal with that growth. Eric Peters, currently vice president, transportation, will also manage the railroad’s coal fleet. The 2,000 cars, including aluminum […]
IOWA CITY, Iowa — Officials in Johnson County, Iowa, will consider the Pop Up Metro rail transit system for a proposed service between North Liberty and Iowa City, the Cedar Rapids Gazette reports. A group of elected and other officials will make a trip in August to Rockhill Furnace, Pa., where Pop Up Metro has […]
DEL MAR, Calif. — The organization that oversees the Del Mar Fairgrounds on Monday formalized its opposition to a proposal to build a rail tunnel beneath the fairgrounds, saying the plan could end a proposal to build affordable housing on the property. The San Diego Union-Tribune reports the 22nd District Agricultural Association board voted unanimously […]
WASHINGTON — Class I railroads say they’re looking forward to explaining their growth strategies to federal regulators during a two-day hearing set for September. Independent rail analyst Anthony B. Hatch says the unprecedented Surface Transportation Board hearing will be political theater that will allow board members to use their bully pulpit. The STB has jurisdiction […]
WASHINGTON – The Federal Railroad Administration has updated its 2023 safety advisory that encourages railroads to make better use of data from wayside hot-bearing detectors. The second supplement to the advisory, issued in draft form on Friday, emphasizes the need for railroads to collect, analyze, and respond to data from hot-bearing detectors. The advisory initially […]
WASHINGTON — The Southeastern Pennyslvania Transportation Authority faces a series of deadlines to address issues regarding its “deteriorating safety record” after the Federal Transit Administration on Monday released its report on a six-month safety assessment of SEPTA practices, and issued a series of directives to both SEPTA and the Pennsylvania Department of Transportation. The assessment […]
WASHINGTON — Thirty-year-high mortgage rates and a double-digit decrease in U.S. housing starts from a year ago has only curbed Class I railroads’ lumber business by about 3,300 carloads, down just 1%, compared to July 2023. Now proposed Federal interest rate cuts could rejuvenate residential housing starts and give railroads’ lumber business a jolt. U.S. […]
NEW YORK — Amtrak has awarded a construction contract for major rehabilitation of the East River Tunnel, the connection between Manhattan and Queens that sustained major damage from floodwaters during 2012’s Hurricane Sandy. The East River Tunnel Rehabilitation Project will demolish all existing tunnel system down to the liner before completely restoring the two tubes […]
WILMINGTON, Calif. — Pacific Harbor Line and the Brotherhood of Locomotive Engineer and Trainmen, Division 214, have ratified a three-year extension to their current labor agreement, extending that contract through Sept. 20, 2027. The extension covers 145 of PHL’s 180 employees. It was ratified July 12 by a record number of eligible BLET members, with […]
