Outlook for rail freight rife with turbulent undercurrents
A panoply of socioeconomic factors are weighing on rail freight, as the economy wrestles with signs of strength and uncertainty, a new analysis finds.
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!
A panoply of socioeconomic factors are weighing on rail freight, as the economy wrestles with signs of strength and uncertainty, a new analysis finds.
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Chicago, Il. — The Canadian Pacific-Kansas City Southern merger has gone smoothly over the past two years — until a long-planned computer system cutover last month in former Kansas City Southern territory in the U.S. CPKC Chief Operating Officer Mark Redd says the cutover — during which CP’s operations system replaced the old KCS system […]