Railroads continue to play a significant role in North America’s economic infrastructure. According to the U.S. Department of Transportation Federal Railroad Administration, the U.S. rail freight network covers almost 140,000 route miles and is generally considered the largest, safest, and most cost-efficient freight system in the world. In addition, says the FRA, the almost $80 billion rail freight industry creates more than 167,000 jobs across the country.
In essence, rail freight companies charge businesses to carry cargo across their network of rails. Their rates are overseen by the Surface Transportation Board, a federal agency that regulates financial aspects of surface transportation. Major railroads in North America include Union Pacific Railroad, BNSF Railway, CSX, Norfolk Southern, Canadian Pacific Kansas City and Canadian National Railway.
Keep up with the latest news, trends and reports concerning rail freight transport here!
The western U.S. railroad can deploy additional cost reduction measures, but how much cost savings it can realize from those measures will depend on how much rail volumes fall in the second quarter.
Even before the COVID-19 pandemic the Class I railroads were mothballing freight cars – and locomotives. Jim Blaze examines the issues surrounding the surplus of locomotives.
Despite lower revenues, the western U.S. railroad saw its first-quarter net income increase as the company trimmed quarterly expenses by 10%.
o hedge against rail volume uncertainty in the second quarter, CSX aims to control costs.
CSX’s (NASDAQ: CSX) first-quarter net profit fell 7.7% amid lower revenues and a record operating ratio. First-quarter 2020 net income was $770 million, or $1 a share, compared with $834 million, or $1.02 a share in the first quarter of 2019, the company said Wednesday. Meanwhile, CSX’s first-quarter operating ratio was a record 58.7%, compared […]
U.S. rail traffic slumps amid pandemic woes, and challenges are likely to persist into the second quarter.
Precision scheduled railroading and its workforce will help CP get through anticipated challenges in the second quarter, company executives said.
The railway’s first-quarter net income slipped on higher income tax expenses. But total revenue rose nearly 16% in the first quarter of 2020 while operating expenses were roughly flat-to-higher.
Investigators with the Transportation Safety Board are urging Transport Canada to consider revising track maintenance regulations since broken rail is appearing as a possible cause for two recent crude train derailments.
Employee counts at U.S. Class I railroads continue to be lower in 2020 than 2019, although total headcount rose slightly from February.
The grant application period is open for groups seeking federal funding for capital projects related to passenger and freight rail.
The railroad will be keeping tabs on operational costs as a way to hedge against the economic uncertainty brought about by the COVID-19 pandemic.
Cross-border movements of chemicals and petroleum products, as well as intermodal shipments, helped propel revenue higher.
The company says its “disposal’ of 300 locomotives and its plans to sell 400 more are due to precision scheduled railroading.
Diminished railcar demand and COVID-19 headwinds force railcar maker to halt production and trim staff.
The pandemic’s economic toll has hit all sectors of transportation, including rail. Read how railroads can manage costs during this global crisis.
The ongoing coronavirus pandemic is shrinking U.S. rail volumes as the housing construction and retail sectors struggle to stay afloat.
Although the space is needed, the economics don’t appear to work.
Other factors beyond the coronavirus pandemic are weighing on U.S. rail volumes for grain.
The groups want the Federal Railroad Administration to ensure that railroads’ requests to waive certain regulations stem from a true labor shortage.
