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An activist investor group has taken a $1 billion stake in Norfolk Southern and aims to wrest control of the company’s board and oust CEO Alan Shaw, according to a report in The Wall Street Journal this evening. The investor group, led by Cleveland-based Ancora Holdings, has nominated a slate of directors that includes former […]
WASHINGTON — Canadian National’s proposed acquisition of the 218-mile Iowa Northern Railway will boost rail competition, divert freight off the highway, and give Iowa shippers broader access to single-line service, CN says in a merger application filed this week with the Surface Transportation Board. CN spent $230 million to acquire the Class III railroad from […]
WASHINGTON – The Surface Transportation Board today issued a decision that extends the temporary reporting of employment data through the end of the year and that requires certain updated information from BNSF Railway, CSX, Norfolk Southern, and Union Pacific. The board originally required the big four U.S. Class I railroads to submit employment information beginning […]
CALGARY, Alberta — Canadian Pacific Kansas City will launch the “Final Spike Anniversary Steam Tour,” featuring 4-6-4 No. 2816 on a Canada-to-Mexico trip to celebrate last year’s Canadian Pacific-Kansas City Southern merger, on April 24 at its headquarters in Calgary. A total of 11 stops are planned for the tour, concluding June 4 in Mexico […]
CALGARY, Alberta – Canadian Pacific Kansas City bucked the industry trend by posting fourth-quarter gains in volume, operating income, and revenue. “I am proud of how our team of incredible railroaders finished this transformational year with a strong fourth quarter, allowing CPKC to deliver volume growth and best-in-class earnings growth in 2023,” CEO Keith Creel […]
Will the persistent low water levels in the Panama Canal and ongoing attacks on ships bound to and from the Suez Canal wind up diverting international container traffic to West Coast ports? Railroad executives think so, although most say a shift in international intermodal volume has yet to materialize. The drought in Panama has prompted […]
WASHINGTON — In the latest twist in a long-running Chicago interchange dispute, federal regulators yesterday ruled that it’s unreasonable for Canadian National to unilaterally designate the Belt Railway of Chicago’s Clearing Yard as the location where it will exchange traffic with rival Canadian Pacific Kansas City. It’s the second time that the Surface Transportation Board […]
Bunge, an agricultural company, has become the first shipper to join the RailPulse freight car telematics joint venture. “By joining RailPulse as the first railcar-owning shipper, we are taking a proactive step toward driving positive change and digital transformation within the rail shipping industry,” Terry McDermott, director of supply chain – North American Rail at […]
WASHINGTON — The 180-day nationwide safety blitz that the Federal Railroad Administration conducted in the wake of the Feb. 3, 2023, hazardous materials derailment in East Palestine, Ohio, found that railroads’ track, equipment, and processes were generally in compliance with federal regulations. But the FRA, outlining its findings in a report released last week, did […]
WASHINGTON — The U.S. Department of Transportation has extended a $31.4 million Railroad Rehabilitation and Improvement Financing loan to the Sierra Northern Railway and Mendocino Railway for infrastructure improvement work, DOT’s Build America Bureau announced on Monday. Funding will finance almost 100% of work including expansion of 6.7 miles of Sierra Northern’s Oakdale Branch for […]
BERN, Switzerland — The long-term future of Switzerland’s historic Gotthard Pass rail line, which has been in question since the opening of the Gotthard Base Tunnel in 2016, has been assured with the decision of the Swiss government and Swiss Federal Railways, or SBB, to spend some 1 billion Swiss francs ($1.16 billion) to renovate […]
Norfolk Southern, the Brotherhood of Locomotive Engineers and Trainmen, and the SMART-TD union will participate in the Federal Railroad Administration’s Confidential Close Call Reporting system, or C3RS, the railroad and labor unions said in a joint statement today. “NS is proud to partner with our labor leaders and FRA to make another industry-leading advancement in […]
