Activist investor may target CSX, citing slumping financial performance
The activist investor that helped spur the historic Union Pacific-Norfolk Southern deal is building a position in CSX.
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 activist investor that helped spur the historic Union Pacific-Norfolk Southern deal is building a position in CSX.
Ancora built its position in Norfolk Southern in 2023 and 2024.
Canadian National, one of two transcontinental railroads in Canada, expressed support for the proposed coast-to-coast merger of Union Pacific and Norfolk Southern.
Intermodal, coal, and grain helped Canadian Pacific Kansas City to improved profits in the second quarter.
The proposed acquisition creates the first transcontinental freight railroad.
Eliminating interchange should make rail a more attractive option for shippers in nation’s midsection, George and Vena tell analysts
Shippers wary of higher rates, service issues with one entity controlling 52,000 miles of track.
Union Pacific and Norfolk Southern announced a merger that will create the first transcontinental railroad with an enterprise value of more than $250 billion.
Norfolk Southern, which announced an historic merger with Union Pacific, said earnings rose 5% in Q2 as volume grew by 3%.
Amtrak would lose government-backed preference in legislation seeking faster freight service.
Union Pacific and Norfolk Southern could announce a merger as early as next week, according to a published report.
New domestic lanes expand intermodal service from the West Coast through the Midwest to Texas.
Following news of the Union Pacific-Norfolk Southern talks, the Surface Transportation Board has published a resource guide to rail mergers.
The State of Freight for July looked at what a few key SONAR indices are saying about the market.
Union Pacific saw record results in the fourth quarter as coal shipments led gains across business segments.
Union Pacific reported higher profits on improved freight volumes and a one-time tax gain.
Union Pacific and Norfolk Southern on Thursday confirmed that they are in advanced discussions regarding a merger.
Carload freight and intermodal volumes ran ahead of year ago levels, according to the latest weekly rail data.
Profits at CSX fell in the second quarter as weaker merchandise traffic outweighed improvement in intermodal volumes.
CSX said weaker coal, merchandise traffic hit second quarter profit despite higher pricing and intermodal volume.
Union Pacific has agreed to an interim pay raise for 6,000 members of the Brotherhood of Locomotive Engineers and Trainmen while full contract talks continue. The Brotherhood of Locomotive Engineers and Trainmen and Union Pacific (NYSE: UNP) have reached tentative agreement on an interim 3% raise for union members while bargaining for a full contract […]
Intermodal would be approximately 53% of a combined entity’s volume.
A trio of veteran experts will advise the Surface Transportation Board and chairman Patrick Fuchs as talk of mergers grows louder.
Marten is selling its intermodal unit, which is focused on refrigerated, to Hub Group.
Tariff and trade uncertainty led CN to cut its outlook for the full year even as lower costs helped improve income amid declining revenues.
The single-car merchandise business is central to plans of the largest rail carrier of intermodal, coal, and grain.
Canadian rail carrier CN said cost controls helped boost operating income as tariff and other economic factors muted revenues.
Goldman Sachs is advising BNSF Railway on a possible merger, according to a published report, just days after news broke of talks between Union Pacific and Norfolk Southern.
In a business as tightly coupled to its past as railroading, there is much at stake for several individuals in the proposed Union Pacific-Norfolk Southern merger.
Intermodal, coal, and grains are driving Class I railroad traffic higher.
Union Pacific, the largest publicly-held railroad, is in merger talks with eastern rival Norfolk Southern, according to a published report.
Union Pacific has retained investment bank Morgan Stanley to explore a potential acquisition of a Class I railroad, according to a report.
BNSF Railway and Union Pacific came to an agreement on routing of intermodal trains ahead of a meeting with regulators.
Jaguar Transport Holdings is seeking to buy two railroads in Washington state, the company said in filings.
BNSF is eyeing intra-Texas drayers with expedited intermodal services connecting Los Angeles and Houston.
CSX has eliminated 125 mostly management positions, including dozens at its headquarters in Jacksonville, Fla.
A CPKC union is polling members about a possible strike, claiming the railroad took advantage of a service crisis to make workplace job changes on the troubled Kansas City Southern network.
Schneider National announced improved transit times on its cross-border intermodal service with Canadian Pacific Kansas City.
Rail freight turned in solid gains for the holiday week ending July.
A federal appeals court has thrown out a rule that gave shippers with poor rail service access to a second railroad.
BNSF asks Surface Transportation Board for emergency order to start southern California-Salt Lake City service over Union Pacific tracks.
Intermodal helped make CPKC the fastest-growing railroad in the second quarter.
Carload rail freight edged down in the latest week but stayed ahead of year-to-date levels.
The monthly jobs report showed small changes in truck transportation employment, more of the overall trend of stability.
A panoply of socioeconomic factors are weighing on rail freight, as the economy wrestles with signs of strength and uncertainty, a new analysis finds.
Border agents recently seized $31 million worth of narcotics from commercial shipments in Texas, Michigan, Ontario, and Quebec.
A proposed private passenger train will make the Los Angeles to New York City trip in less than 72 hours – and carry tractor-trailers and their drivers.
That light at the end of the rail merger tunnel is becoming an oncoming investment express.
Surface Transportation Board moves to expedite delayed cases, some of which have languished for years.
The Port of Los Angeles expects to boost exports from a rail-served logistics park in California’s Central Valley.
Bipartisan legislation would limit the number of hours for employees supervising traffic flow in railroad yards.
Rail traffic was flat in the latest week data as softening demand for China imports likely hit intermodal volumes.
Shippers can book, track and trace, and get improved freight car visibility through a new tech partnership.
Republicans and Democrats split over automated track inspection systems and Federal Railroad Administration safety regulations
The Trump administration’s proposed new regulatory enforcement policy could make railroads less accountable, unions assert.
Agri-business giant Louis Dreyfus has been selected to operate the multimodal grain terminal at Indiana’s Lake Michigan port.
CPKC foresees July return to normal service after a botched computer system cutover on former Kansas City Southern.
The National Institutes of Health plans the first comprehensive research project to study the long-term health effects of the 2023 rail disaster in East Palestine, Ohio.
U.S. rail traffic was down for a second straight week y/y, the first back-to-back decline this year after 15 straight weeks ahead of 2024 levels.
A letter from the STB chairman says customers continue to report problems in southern US, requests details of ‘concrete steps’ to recover.
Duration Capital Partners said it has invested $600 million in short line railroad operator Watco Cos.
BNSF and CSX hauled a trainload of tanks and other military equipment to Washington for the Army’s 250th birthday parade.
As tariff talk cools, intermodal carriers are becoming more upbeat.
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 […]
Logistics’ share of US GDP rose in 2024, and CSCMP doesn’t see it declining any time soon.
The Reading & Northern Railroad has promoted executive Jim Raffa to vice president, marketing and sales.
The largest U.S. railroad is taking a customer-focused approach as it deploys technology across it 32,000-mile system.
Carload freight showed solid growth in May, but a marked decline in containers and trailers signals caution for the second half of this year.
Rail is one of the safest options in the transportation industry, and Greenbrier continues to advance that operational safety through innovation. The company’s latest initiative—the GBX Training Tank Car—represents a significant advancement in tank car education. Built from an actual tank car, this mobile classroom delivers hands-on safety instruction and technical training. “Rail safety is […]
CSX’s on-time performance in May, measured by trip plan compliance for intermodal and carload shipments, returned to December levels.
History doesn’t provide a road map for how intermodal traffic may perform in the midst of a trade war, analyst Larry Gross says.
Shortline operator Regional Rail expanded its network with the acquisition of Minnesota Commercial Railway.
A California startup wants to repurpose a lightly used freight route for a luxury overnight train connecting Los Angeles and San Francisco.
Short line Cumberland & Knox made its debut last weekend with a 56-mile run in Maine.
Norfolk Southern board chair Claude Mongeau, who guided the panel after a failed takeover, has resigned.
BNSF Railway introduced the First Mile/Last Mile team dedicated to development of single-carload traffic.
The Surface Transportation Board has opened a formal review of Watco’s acquisition of Michigan rail short line Great Lakes Central.
Union Pacific and partner ZTR said they have completed testing of a hybrid battery-electric locomotive.
J.B. Hunt Transport Services has expanded its premium intermodal offering, Quantum, to businesses in Mexico.
Wells Fargo is selling its rail leasing equipment business to a joint venture of GATX Corp. and Brookfield Infrastructure.
The U.S. Supreme Court overturned a lower court ruling, clearing the way for a rail line that would move Utah crude oil to the national rail network.
Freight on U.S. railroads posted another win against year-ago shipments.
In the calm before the surge, BNSF is confident its network can handle the coming wave of import containers from Asia.
The Greenbrier Cos. has added Ted Baun as senior vice president of its North American commercial team.
After small railroad volume growth outperformed the Class I, Norfolk Southern is expanding an interchange program to more than 260 shortline partners.
Short line railroads and their stakeholders took their legislative wishlist to Washington for the annual Congressional lobby event.
Coal remained the commodity leader as U.S. rail carloads stayed ahead of year-ago levels.
Intermodal volumes so far seem to be dodging the “air pocket” expected in the wake of steep tariffs on goods from China.
The ports of Los Angeles and Long Beach are looking for a new harbor rail operator for the first time since 1998.
Railroad executives told an investors conference that future mergers face likely insurmountable regulatory hurdles.
Surface Transportation Board Chairman Patrick Fuchs has added a team of public-private advisers as he reforms the federal freight rail regulator.
The ITS Logistics US Port/Rail Ramp Freight Index shows looming issues at rail terminals and an early peak season ahead.
Coordinated effort is vital to optimizing use of the Port of Vancouver, Canada’s busiest port complex, says Canadian National CEO Tracy Robinson.
Eastbound international container volume out of Southern California was down 5% from the prior week and 10% compared to the four-week rolling average, according to RailState.
It’s a whole new freight market from what it was just a month ago, according to the May State of Freight webinar.
Cross-border tensions are moderating Canadian National’s outlook, but its CEO still expects around 3% growth in freight volumes this year.
U.S. railroads carried more freight in the most recent week from a year ago, according to the latest industry data.
Talk of mergers is making the rounds of Class I railroads as a way to kick-start growth and take advantage of a business-friendly Trump administration.
Rebuilding after hurricane damage and rerouting around a Baltimore tunnel project cost CSX a million dollars a day in lost revenue in the first quarter, a company executive told an investor conference.
David Fink, President Trump’s nominee to oversee rail safety in the U.S., was questioned Tuesday about his own safety record as former head of a railroad.