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!
Canadian railway CN, the Mississippi State Port Authority and Ports America have signed a memorandum of understanding for an intermodal service at the Port of Gulfport.
Cincinnati voters on Tuesday approved selling Cincinnati Southern Railway to Norfolk Southern for $1.62 billion.
The rail industry continues to streamline operations and realign rail car fleet management via acquisitions.
J.B. Hunt and BNSF Railway announce the launch of a new customized intermodal offering at FreightWaves’ F3: Future of Freight Festival 2023.
The Federal Railroad Administration has awarded $16.4 billion to 25 passenger rail projects, many of which are in the busy Northeast corridor. Freight rail may also benefit from the projects.
A 13% decline in total revenues dented BNSF’s net profit for the third quarter.
Total employed in the sector now more than 30,000 fewer than at May peak
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A look at U.S. Class I rail employment data shows that head count for train and engine crews grew when comparing averages in 2023 with 2020 — but employment totals for those maintaining equipment and stores appeared to fall.
Rail electrification and locomotives powered by green hydrogen are two goals that the rail industry and federal and state leaders should adopt, according to the Sierra Club’s revised statement on how to encourage clean transportation for the railroads.
FreightWaves CEO Fuller talks Convoy collapse and why things aren’t improving for carriers.
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The Greenbrier Companies, GATX and Wabtec all reported quarterly earnings this week. Among the themes expressed during earnings calls was pervading market uncertainty domestically but an abundance of international opportunities.
Norfolk Southern is asking the Surface Transportation Board to compel Canadian Pacific Kansas City and CSX to consolidate their applications on plans to create a Mexico-Southeast U.S. corridor. Doing so would provide greater insight on freight and passenger rail impacts, NS argues.
Hub Group reported $1 billion in revenue and earnings per share of 97 cents during the third quarter.
Members of the Brotherhood of Railroad Signalmen who work on CSX’s L&N property have ratified their sick leave agreement, CSX said.
Uncertainties over consumer demand and inflation rates are causing Canadian Pacific Kansas City to adopt a more cautious stance as 2024 approaches.
CPKC reported a 12% decline in net profit in the third quarter despite higher combined revenues.
Short-term pain will lead to long-term gain for Norfolk Southern, the railway’s CEO said when asked about his company’s higher margins amid plans to continue improvements to rail service.
NS’ third-quarter net income fell 50% amid a $163 million incident charge related to the East Palestine, Ohio, train derailment in February.
