Economic slump weighs on October rail volumes
U.S. rail volumes fell 8.1% amid trade uncertainty and “sluggish” growth abroad.
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!
U.S. rail volumes fell 8.1% amid trade uncertainty and “sluggish” growth abroad.
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Lower operating expenses helped to increase profits.
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The rail equipment lessor said corrosion damage was found in 160 railcars.
The number of employees working for the U.S. operations of the Class I railroads slumps to its lowest level in years.
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