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!
Inventory restocking and demand for domestic intermodal service will support Hub Group into next year, executives said.
Although macroeconomic factors and lower train speeds support railcar leasing, the growth trend might be choppy as the COVID-19 pandemic and supply chain disruptions still weigh on the market, Trinity Industries and GATX said during their third-quarter 2021 earnings calls.
Current Chief Operating Officer Lorie Tekorius will be railcar manufacturer Greenbrier’s next CEO in March 2022. Tekorius and others discussed 2022 market headwinds during Greenbrier’s quarterly earnings call on Tuesday.
The Port of Long Beach is trying to innovate its way out of container gridlock. The latest move is regular shuttle trains to Utah to reduce less efficient truck moves.
Like its Class I peers, Norfolk Southern encountered supply chain disruptions brought on by a lack of workers in dray and warehousing.
The Jacksonville Port Authority handled more than 1.4 million TEUs in its 2021 fiscal year, an all-time annual record, and it says it’s ready to take on more for those wanting “congestion-free” service.
To make room for more containers at the ports of Los Angeles and Long Beach, UP and BNSF are offering incentives to ocean carrier customers to move out the containers already there. UP is also temporarily pausing westbound marine container movement to its Long Beach facility.
The Clure Public Marine Terminal now can handle “international shipping containers transported by vessel.”
Following UP’s recent actions, Norfolk Southern takes the unions to court over its ability to mandate the COVID-19 vaccine.
Amtrak has petitioned the Surface Transportation Board to compel CSX and Norfolk Southern to allow access to their Gulf Coast networks as part of a broader plan to restore passenger service between Mobile, Alabama, and New Orleans.
News items detailing new facilities, new faces and an environmental nod.
Railcar order backlogs can help the freight rail industry understand where the railcar market is in the supply-and-demand cycle, according to this AskWaves article.
Union Pacific could’ve handled more intermodal volume in the third quarter were it not for longer chassis dwell times and a shortage of dray drivers, executives said during the company’s earnings call.
CSX has been aggressively pursuing new employees in order to meet network capacity needs, executives said during the company’s third-quarter earnings call.
The railway is working with customers and steamship lines to find opportunities to divert traffic from Los Angeles and Long Beach, executives said during CP’s third-quarter 2021 earnings call.
In a quarterly earnings call, outgoing CEO JJ Ruest insists CN’s board of directors will conduct an extensive search for his successor. An activist investor is seeking to install its own CEO choice.
JJ Ruest, who has been criticized recently by an activist investor over CN’s attempt to merge with Kansas City Southern, has served CN for more than 25 years and will depart in January or whenever a successor is found.
The railroad won’t give new guidance because of uncertainties surrounding chip shortages and events in Mexico creating limited visibility.
TCI Fund Management continues to press CN shareholders to install a new CEO and four new board members.
Union Pacific and several rail unions are arguing that the other party has failed to properly negotiate how UP should comply with President Joe Biden’s COVID-19 vaccine mandate.
