New Brightline details included in $950 million bond sale

Front of a black, white, and yello train

MIAMI — Although a planned private activity bond sale to help finance Brightline’s proposed Southern California-Las Vegas, Nev., route has been delayed, long-term investors weren’t deterred from snapping up $950 million in the company’s Florida bond offering just before Christmas. The bond sale for the western project — and the project itself — have been […]

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Transportation Secretary Elaine Chao resigns

Elai Chao

WASHINGTON — U.S. Transportation Secretary Elaine Chao has resigned, effective Monday, Jan. 11, in the wake of Wednesday’s storming of the U.S. Capitol, which she calls “a traumatic and entirely avoidable event” in a letter addressed to Department of Transportation colleagues. “It has deeply troubled me in a way that I simply cannot set aside.” […]

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Buoyed by intermodal, railroads see traffic rise in December

Statistics table of US rail traffic

WASHINGTON — Thanks to continued intermodal strength, overall U.S. Class I rail traffic in December increased by 4.4% over December 2019, with a total of 2,435,819 carloads and intermodal units, according to statistics released by the Association of American Railroads. The 1,101,324 carloads in the month represented a decrease of 3.7%, while the 1,334,495 containers […]

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Digest: UP train derails in Oregon

Derailed train site

Still more Wednesday morning rail news: Fifteen cars of UP train derail in Oregon Fifteen cars of a Union Pacific train derailed early Wednesday in Clackamas County, Ore., leading to a brief closure of State Route 99, KGW-TV reports. The Clackamas County Sheriff reports no hazardous materials were involved in the incident about 15 miles […]

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Digest: MBTA plans one-week furloughs for executives, union members

MBTA logo

More Wednesday morning rail news: MBTA plans one-week furloughs for executives, union members to help address budget shortfall The Massachusetts Bay Transportation Authority is planning one-week furloughs for some executives and union members as part of its effort to address the budget shortfall created by the COVID-19 pandemic. The Boston Herald reports that MBTA General […]

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Digest: Refrigerator car firm Cryo-Trans purchased by cold-storage specialist Lineage

Side view of a train car

Wednesday morning rail news: 

Lineage buys refrigerator car firm Cyro-Trans in $500 million deal
 Cold-storage specialist Lineage Logistics announced it is purchasing Cryo-Trans, which has more than 2,200 refrigerated and insulated railcars, North America’s largest privately owned fleet, and manages more than 40,000 annual rail shipments. Lineage, a real estate investment trust based in Novi., […]

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Squires expects Norfolk Southern to rebound from tough year

James Squires

ATLANTA — The pandemic hurt railroad traffic across the board, but none more than Norfolk Southern. NS volume for 2020 was down nearly 12%, which was twice as much as Eastern rival CSX Transportation and considerably deeper than the industry average of a 7% decline [see “Canadian Pacific leads industry volume for second straight year,” Trains News Wire, […]

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