DARIEN, Conn. — Genesee & Wyoming’s second quarter revenue and operating income declined, dragged down by slumping international operations that more than offset improved North American results. The shortline holding company’s operating income declined 9%, to $4.2 million, as revenue sank 4%, to $571.5 million, G&W said in a regulatory filing late Wednesday. Earnings per […]
Association of American Railroads WASHINGTON — The Association of American Railroads today reported U.S. rail traffic for the week ending Aug. 3, as well as volumes for July 2019. U.S. railroads originated 1,264,100 carloads in July 2019, down 4.8%, or 64,406 carloads, from July 2018. U.S. railroads also originated 1,314,333 containers and trailers in July […]
FORT WORTH, Texas — BNSF Railway reported higher second quarter profits on Friday despite a traffic slump and disruptive Midwestern flooding. BNSF’s pre-tax profit rose 7%, to $1.8 billion, as revenue rose 0.3%, to $5.9 billion, corporate parent Berkshire Hathaway reported in a regulatory filing. The railroad’s operating ratio improved 2.1 points to 65.4% for […]
NEW YORK CITY — Considered a stopgap a few years ago for declining U.S. coal production and its effects on transportation providers, the export market — especially that in Europe — is fading. Lower natural gas prices are hastening European conversion of power generation away from coal, says an analysis released by investment bank Morgan […]
Port of Savannah Georgia Ports Authority SAVANNAH, Ga. — Rail intermodal is credited for record Port of Savannah container volume for its fiscal year ending June 30. The port moved 4.5 million 20-foot equivalent container units in fiscal 2019, a 7.3% increase, port officials say. Terminal employees “and our two Class I rail providers — […]
Association of American Railroads WASHINGTON — The Association of American Railroads today reported U.S. rail traffic for the week ending July 27. For this week, total U.S. weekly rail traffic was 534,498 carloads and intermodal units, down 4.4% compared with the same week last year. Total carloads for the week ending July 27 were 261,706 […]
WASHINGTON — The Federal government has a new top safety executive. Karl Alexy is now serving as the Federal Railroad Administration’s Associate Administrator for Safety and is the agency’s chief safety officer. Alexy assumes the post from Robert C. Lauby, who retired from the agency earlier this year. According to the FRA’s website Alexy joined […]
PRICHARD, W.Va. — After three and a half years, West Virginia wants out of its Heartland Intermodal Gateway in Wayne County. The West Virginia Port Authority board has authorized negotiating short-term leasing of the 100-acre facility with the intent of selling it at auction within a year, according to Transport Topics. Once touted as a […]
WASHINGTON — The Class I railroads adopting Precision Scheduled Railroading operating models say they are providing better service as they become more efficient. But disgruntled shippers tell a different story: They say they’re paying the price for cutbacks in people and motive power that make railroads more profitable as service suffers. Railroad customers and their […]
NORFOLK, Va. — Norfolk Southern’s new TOP21 operating plan, which went into effect systemwide on July 1, has overhauled the way the railroad moves nearly all of its merchandise and automotive traffic. The operational changes mean traffic is moving faster and more dependably, all while reducing costs by permitting NS to use fewer locomotives and […]
MONTREAL — Canadian National reported record second quarter financial results on Tuesday and reaffirmed its positive volume outlook for the rest of the year thanks to expected growth in crude oil, coal, grain, propane, and intermodal traffic. “Looking to the balance of this year and next, we are cautiously optimistic,” CEO Jean-Jacques Ruest said on […]
NORFOLK, Va. — Norfolk Southern today reported record quarterly financial results as more efficient operations, cost control, and price increases were enough to offset broad volume declines. Despite signs of slowing economic growth, NS maintained its volume and financial outlooks for the year. The railroad is banking on landing more intermodal, automotive, crude oil, sand, […]
