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!
CPKC saw single-digit gains in freight volumes in the third quarter, but the operating ratio climbed as a brief lockout of union employees hit network operations.
CSX Transportation has reached new tentative five-year deals with the International Brotherhood of Electrical Workers and the National Conference of Firemen & Oilers. The railroad also announced ratification of an agreement with yardmasters represented by the International Association of Sheet Metal, Air, Rail, and Transportation Workers-Transportation Division.
Canadian National Railway posted third-quarter revenue slightly better than a year ago as operations appeared fully recovered from destructive wildfires and a labor dispute that briefly shut down the railroad.
Norfolk Southern has reached a tentative five-year agreement with the International Brotherhood of Electrical Workers, the railroad announced Tuesday. The agreement, subject to ratification, means the railroad has tentative deals with approximately 67% of its union workforce.
Norfolk Southern delivered significant gains in earnings and operating ratio during 2024’s third quarter, with new CEO Mark George noting the railroad is “continuing to close the margin gap” with its peers.
Norfolk Southern (NYSE: NSC) posted third-quarter earnings from rail operations of $1.6 billion, along with an operating ratio of 47.7% and diluted earnings per share of $4.85, the railroad announced Tuesday.
An early peak shipping season, strong economy and resilient consumer spending boosted container volume to a record quarter at the Port of Los Angeles.
Port-owned New Orleans Public Belt Railroad and logistics specialist Heniff Transportation Systems have opened a new state-backed transload facility aimed at dry and liquid bulk customers.
Mexico’s Congress has passed legislation that would reverse railroad privatization laws enacted in the 1990s and give the government more control over rail operations, particularly passenger rail.
The Securities and Exchange Commission has subpoenaed CSX Corp. regarding misstatements in previously financial reports, CSX said in its latest quarterly filing with the government agency.
Portwide expansion and upgrades for ship, rail and truck have Charleston, South Carolina, officials eyeing annual capacity of 10 million TEUs for the fast-growing Southeastern maritime hub.
The Surface Transportation Board has approved acquisition by Canadian Pacific Kansas City and CSX Transportation of the Meridian & Bigbee Railroad from Genesee & Wyoming, allowing the two Class I lines to create a new direct connection at Myrtlewood, Alabama.
Weekly U.S. rail traffic rebounded into positive territory compared to 2023 for the week ending Oct. 12, after falling below previous-year levels a week earlier.
While hedge funds wring savings from other Class 1 railroads, Union Pacific CEO Jim Vena says his line can win new business with service and “operational excellence.”
CSX faces more than $200 million in reconstruction costs as a result of Hurricanes Helene and Milton, and the income impacts of the storms will be felt in both the third and fourth quarters.
CSX Corp. reported third-quarter operating income of $1.35 billion with net earnings of $894 million, or 46 cents per diluted share, in financial results announced Wednesday.
OSHA has warned CSX against retaliating against employees who raise safety concerns.
Freight railroads from the Gulf Coast to Miami are still assessing damage and making repairs after Milton made landfall near St. Petersburg late Wednesday as a Category 3 hurricane.
For the first time in more than nine months, U.S. weekly rail traffic has dropped below 2023 levels.
Class I railroads have rationalized their networks to the extent that there is very little redundancy, leaving few efficient alternatives in the event of a catastrophic event like Hurricane Helene.
