Canadian Pacific submits revised offer to acquire Kansas City Southern
CP is offering a stock-and-cash “superior proposal” worth an estimated US$31 billion.
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!
CP is offering a stock-and-cash “superior proposal” worth an estimated US$31 billion.
The Surface Transportation Board will review Amtrak’s request to restore Gulf Coast service, dismissing calls by CSX and Norfolk Southern, whose networks will be affected by the service restoration, to reject the request.
A 26% gain in revenues helped boost BNSF’s net profits in the second quarter of 2021 to $1.5 billion.
The rail manufacturer has been modernizing locomotives to improve their fuel efficiency and longevity.
The pace of U.S. rail volume growth slowed in July, according to Association of American Railroad data. But still expect intermodal growth through 2021 in North America, the Intermodal Association of North America said.
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The past week in social media images features a mudslide-damaged highway, a truck rollover during a flood, destructive wildfires and more.
A Norfolk Southern employee suffered fatal injuries Wednesday at its Enola yard, outside Harrisburg, Pennsylvania.
NS is investigating the cause of the derailment, which stopped train traffic from Monday afternoon to early Wednesday.
Canadian Pacific and CN shattered records for hauling Canadian grain and grain products in the 2020-2021 crop year, which ran from Aug. 1, 2020, to July 31, 2021. More efficient network boosted volumes: CP CP (NYSE: CP) hauled 30.62 million metric tons (MMT), the most in its 140-year history, the railroad said Tuesday. That was […]
TRAC Intermodal President and CEO Daniel Walsh chats with FreightWaves about chassis availability and market conditions into 2022.
Transport Canada has approved updates to the rules, regulations and standards regarding switching operations as part of a broader effort to make operations safer.
Four shipper associations have asked the Surface Transportation Board to see if demurrage charges can be applied to privately owned railcars to improve the flow of railcars through the network.
The railroad reopened the Dry Canyon Bridge in Northern California weeks ahead of schedule.
Kansas City Southern told its shareholders to focus on the proposed CN-KCS merger transaction and not on Canadian Pacific’s attempts to cast doubt on the merger’s chances of being approved by federal regulators.
The Surface Transportation Board has accepted CSX’s revised application to acquire Pan Am Railways, allowing the acquisition proceedings to continue.
The “significant” damage has caused BNSF to reroute trains, and the railroad is uncertain when service in the area might be restored.
SMART-TD must negotiate with Class I railroads on train crew size; Rail Customer Coalition calls on STB to take up reciprocal switching; ASLRRA praises progress on infrastructure bill; and Canadian Pacific urges KCS shareholders to vote against the proposed CN-KCS merger.
The past week in images features train cars used to fight fires, a wreck caused by a dust storm, a trucker who flipped in floodwaters and more.
The trucking industry’s issues with driver availability along with customers’ commitment to sustainability are factors that could support growth for intermodal beyond 2021 and 2022, executives said during Hub Group’s earnings call on Thursday.