Tight railcar market benefits lessors like GATX, executives say
Pent-up demand for railcars will support GATX even as rail service clears up.
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!
Pent-up demand for railcars will support GATX even as rail service clears up.
Consulting firm FTR Associates says the freight transportation markets will find support amid a still-growing manufacturing sector, despite perceived softness in the U.S. economy.
Union Pacific executives said it wasn’t precision scheduled railroading but running the network too tightly that brought on the service issues.
An unanticipated high attrition rate among new hires has affected the pace of CSX’s planned operational recovery, according to executives on the railroad’s second-quarter earnings call.
Kansas City Southern de Mexico will invest nearly $200 million in a railway bypass. The railroad will have exclusive rights to the bypass for 10 more years.
The STB is sifting through hundreds of pages on the perceived advantages and disadvantages of a merger between Canadian Pacific and Kansas City Southern.
President Joe Biden on Friday signed an executive order calling for a three-person board to investigate the issues behind the contract discord between the railroads and unions.
The Canadian government says it will fund infrastructure projects in Saskatchewan and Ontario, as well as research into how the railways can respond to climate-induced events.
The Biden administration wants to speed an effort unveiled in March to create a first-time freight data exchange for U.S. container shipments.
Railroad crews are facing “all-time low” morale. They could legally strike in July, worsening supply-chain congestion.
The 1,158-acre Gulf Inland Logistics Park near Houston includes a switching railroad and has access to two Class I railroads and major highways.
Peak season imports are expected to remain strong but rail delays require ‘immediate’ attention, says Port of LA’s Gene Seroka.
Higher amounts of loaded imports and empty export boxes contributed to a nearly 15% increase in volumes.
Members of the Brotherhood of Locomotive Engineers and Trainmen voted to strike if they deem it necessary as the unions and railroads fail to reach a contract agreement.
The Occupational Safety and Health Administration wants CSX to pay $121,200 total for workplace incidents that might have contributed to the December 2021 blast at the Curtis Bay Coal Terminal.
Work is underway to develop container-handling terminals in as many as five states along the Mississippi River.
Southern California ports can’t evacuate import containers fast enough. The backlog has yet again reached critical levels.
Customers are eager to move products via rail once network congestion subsides, executives said during Greenbrier’s quarterly earnings call on Monday.
The U.S. Chamber of Commerce wants President Biden to intervene in the ongoing rail labor dispute to avoid service disruptions.
AskWaves looks at the many varied functions that the 56-year-old Federal Railroad Administration performs for passenger and freight rail.