Rail cybersecurity firm Cylus has $30 million funding round
Cylus raised $30 million in a recent funding round, bringing the company’s total funding to over $57 million.
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!
Cylus raised $30 million in a recent funding round, bringing the company’s total funding to over $57 million.
An initiative to transport a type of heavy Canadian crude oil to the Gulf Coast via Canadian Pacific and Kansas City Southern has begun operations.
The three companies have signed a memorandum of understanding to pursue the demonstration project to test the feasibility of hydrogen-powered locomotives.
The eastern U.S. railroad is aggressively courting new employees as well as seeking to retain current ones to improve traffic flow and reduce delays.
Freight costs reach a record, according to November data from Cass Information Systems.
Canadian Pacific has formally completed its acquisition of Kansas City Southern, and now both companies are waiting for the Surface Transportation Board to approve the merger.
November volumes rose nearly 4% year-over-year, although on a sequential basis, volumes fell nearly 9% from October.
Two bills in the Michigan Legislature are calling for freight train crews to consist of at least two people.
The Port of Savannah handled 6.7% more containers in November compared to a year ago, according to the Georgia Ports Authority.
Canadian Pacific says it will work to get passenger rail service going between Baton Rouge and New Orleans should its merger with Kansas City Southern pull through.
The three companies have partnered to produce a more sustainable gondola car in anticipation of the eventual retirement of the existing fleet.
A Tuesday federal court ruling puts on hold the requirement that federal contractors be vaccinated against COVID-19 — and that ruling extends to Union Pacific, BNSF and Norfolk Southern.
GATX President and CEO Brian Kenney is retiring, and EVP Bob Lyons will succeed him.
South Carolina Ports experienced an all-time high for the number of containers handled in November amid higher import volumes.
CN and CSX received recognition for their action on climate change. UP has upped its targets and released a plan to reach them.
Two unions representing railroad employees want the federal court to make BNSF negotiate with the unions over implementing a COVID-19 vaccine mandate.
CNGmotive’s solution for fueling locomotives provides potential to decarbonize rail using renewable natural gas.
CN begins moving trains on the Kamloops-Vancouver corridor three weeks after flooding and landslides in British Columbia knocked out its main Port of Vancouver rail link.
The terminal says it has “abundant space” at the Millennium Marine Rail facility in New Jersey, as well as competitive import dwell time.
Freight railroads will need to report cyber incidents and take steps to improve security under a new Transportation Security Administration directive.