OMAHA, Neb. — Union Pacific reported higher first quarter volume, revenue, and profits despite congestion related to crew shortages and rising freight car inventory. “Improving our service product has our full and undivided attention,” CEO Lance Fritz told investors and analysts on the railroad’s Thursday morning earnings call. UP’s on-time performance deteriorated during the quarter. […]
MONTREAL — Canadian National executives including now-departed CEO JJ Ruest received significant bonuses last year for the first time since 2018, the Globe and Mail reports. Ruest, who stepped down in January, received a $2.32 million bonus in 2021 as part of overall compensation totaling $13.55 million. A year earlier, his bonus had been $313,334. […]
WASHINGTON — U.S. rail traffic for the week ending April 16 showed steep declines in both carload and intermodal volume, according to the latest statistics from the Association of American Railroads. Overall traffic of 489,801 carloads and intermodal units represented an 8.1% drop from the corresponding week in 2021, with the 221,228 carloads — which […]
PITTSBURGH — Wabtec Corp. has signed agreement to acquire Beena Vision, which manufactures machine-vision-based wayside inspection systems, from Sunnyvale, Calif., technology firm Trimble. Beena Vision’s rolling-stock wayside detectors assess components ranging from wheel surface condition to full train inspection for trains in motion., allowing companies to manage fleet maintenance through sensor and image-based inspection systems. […]
JACKSONVILLE, Fla. — CSX Transportation announced it has reached a tentative agreement with one of its operating unions to provide monthly advance payments against future wage increases expected when current bargaining over a national rail labor contract is completed. The railroad agreed to pay trainmen and yardmasters represented by the International Association of Sheet Metal, […]
GOLDEN VALLEY, Minn. — The League of Railway Women is launching a four-part career webinar series beginning Thursday, April 21, with a session on applying for railway jobs. The session, set for 1 p.m. EDT, will be hosted by Erika Bruhnke, a director at large for the league and vice president, training services, at RailPros. […]
WASHINGTON — Canadian National claims it has found additional train count inconsistencies in the Canadian Pacific-Kansas City Southern merger application and related environmental filings. The Surface Transportation Board last month put review of the CP-KCS merger on hold until discrepancies in train density data could be sorted out. CP has provided the board with clarification […]
CHARLESTON, W.Va. — With diesel fuel prices for trucks twice as high as a year ago, railroads may have an opportunity to benefit from truck-to-rail shipping conversions. Truckers, struggling to preserve operating margins, are adding fuel surcharges or renegotiated rates, prompting shippers to price rail alternatives in search of cost savings and better reliability. Truck […]
DEERFIELD, Ill. — Union Pacific’s plan to begin metering traffic as of today will curtail fertilizer shipments and put crops at risk, a major fertilizer producer says. “The timing of this action by Union Pacific could not come at a worse time for farmers,” CF Industries CEO Tony Will said in a statement on Thursday. […]
WASHINGTON – Federal regulators on Thursday gave the green light to CSX Transportation’s acquisition of New England regional Pan Am Railways. The Surface Transportation Board’s unanimous, 75-page decision approving the merger becomes effective on May 14. But CSX said it planned to close on the transaction on June 1. Regulators largely agreed with CSX’s arguments […]
WASHINGTON – The trade group representing sugar shippers has told federal regulators that rail service problems have forced some of its members to stop or curtail production of food and beverages. The Sweetener Users Association, which wrote to the Surface Transportation Board on Wednesday, is the latest trade group to complain about poor rail service […]
OMAHA, Neb. — Union Pacific’s request that shippers reduce the number of private freight cars in their pipelines – or face strict quotas starting on Monday – has been met with a mix of understanding and outrage. Some shippers say they understand UP’s need to reduce car inventory to help ease congestion that has slowed […]
