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 Railway, and Canadian National Railway.
Keep up with the latest news, trends, and reports concerning rail freight transport here!
Canadian Pacific is waiting for the Surface Transportation Board to render its decision on the proposed merger with Kansas City Southern. In the meantime, CP has been conducting interline tests to see how its service might compare to similar truck lanes.
A bill before the Iowa Legislature seeks to restrict the length of freight trains operating in the state to 8,500 feet.
A leading federal regulator says a merger between Canadian Pacific-Kansas City Southern would ratchet up rail noise.
Rail car manufacturer and lessor GATX sees a strong secondary market and continued demand for rail cars to help support the company this year.
The Surface Transportation Board recently took action on Union Pacific’s use of embargoes in the Midwest and rejected the Class I railroads’ request to delay a program related to smaller rate disputes.
Norfolk Southern and partnering companies were involved in 159 industrial development projects in 2022 worth $3.2 billion.
Like the other Class I railroads, CSX is bracing for macroeconomic headwinds in 2023. But continuing service improvements will lend support to the company, executives said during CSX’s fourth-quarter earnings call.
Inflation and other macroeconomic headwinds figure into Norfolk Southern’s projections for 2023. Volume growth is also a big unknown, executives said during NS’ fourth-quarter 2022 earnings call Wednesday.
CN will adjust its operating plan to run faster and potentially shorter trains and concentrate on courting customers where network capacity is available, executives said on the railway’s fourth-quarter 2022 earnings call.
On Union Pacific’s list of resolutions for 2023 are plans to improve rail service, enhance quality of life for craft employees and achieve productivity gains, according to executives on the railroad’s fourth-quarter 2022 earnings call Tuesday.
