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!
Market alliances that seek to convert truck traffic east and west of the Mississippi River could be a way for Canadian Pacific to grow its network, executives said during the second-quarter 2021 earnings call Wednesday.
Supply chain congestion is more about issues with throughput among various stakeholders and less about Norfolk Southern’s ability to handle volumes, executives said during NS’ second-quarter 2021 earnings call Wednesday.
CP’s second-quarter 2021 revenue totaled $1.64 billion in U.S. dollars.
A 24% increase in operating revenue contributed to record second-quarter net income of $819 million for Norfolk Southern.
Both Union Pacific and BNSF have taken to rerouting trains because large wildfires have temporarily closed portions of their networks in Northern California.
Rep. Peter DeFazio, D-Ore., doesn’t want federal regulators to approve a voting trust that Canadian railway CN would establish as part of the process to acquire Kansas City Southern.
Employment levels in June for the U.S. operations of the Class I railroads held steady from May, although U.S. rail volumes grew by one-fifth over the same period.
JAXPORT saw a 15% increase in container volume and a 20% growth in vehicle volumes for the first three quarters of its 2021 fiscal year, the Florida port said Monday.
APM Terminals on the U.S. Gulf Coast wants potential importing customers to know it has access to the Midwest via five Class I railroads.
Two groups announced this month their separate efforts to increase supply chain visibility. One technology tool focuses on locating railcars and another aims to forecast volumes at the Port of Los Angeles.
STB Chairman Marty Oberman has sent letters to all the Class I railroads asking them how the railroads are applying storage fees at key container terminals while the supply chain is congested.
Supply chain disruptions for international intermodal are likely to last through the end of the year, Union Pacific President and CEO Lance Fritz said during the second-quarter earnings call on Thursday.
CSX wants to come up with long-lasting strategies to hire talent so that it can ensure that it can grow capacity in the future, said CSX President and CEO Jim Foote during the company’s second-quarter 2021 earnings call on Wednesday.
Union Pacific’s second-quarter 2021 net income grew 59% from a year ago to $1.8 billion amid a 30% gain in operating revenue.
The sale of property rights of CSX-owned line segments in Virginia more than doubled CSX’s net earnings for the second quarter of 2021 compared with a year ago. Net profit was $1.17 billion in the second quarter.
Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.
Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.
The ocean carrier said Monday that BNSF is reducing import traffic at the ports of LA and Long Beach, while inbound trains from New York area ocean terminals to three Midwestern destinations are also being monitored.
Despite headwinds, KCS thinks it can still achieve double-digit revenue growth for 2021.
The $700 million fee to terminate a merger agreement with Canadian Pacific dented KCS’ second-quarter net income. But revenues were up 37% year-over-year.
