The Surface Transportation Board has accepted CSX’s revised application to acquire Pan Am Railways, allowing the acquisition proceedings to continue.
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.
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.
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.
Amtrak wants federal regulators to expedite a request to reestablish passenger rail service between Mobile and New Orleans. But CSX and Norfolk Southern say, not so fast.
The project continues the region’s hot streak in attracting logistics development.
CSX hopes an expanded application containing a more in-depth market analysis will persuade the Surface Transportation Board to approve CSX’s request to acquire Pan Am.
The U.S. Department of Transportation is awarding $905 million to 24 infrastructure projects. Among those are a handful of projects that involve making freight rail movements more efficient.
CSX will be using Wabtec’s technology aimed at reducing emissions and improving fuel efficiency for locomotives.
The project to expand the Howard Street Tunnel has received federal environmental approvals, bringing the $466 million project closer to fruition. The expansion will enable the tunnel to accommodate double-stacked container trains, which could benefit the nearby Port of Baltimore.
Ocean carriers and Class I railroads both agree that chassis shortages are contributing to volume congestion. But solutions to relieve the congestion rely on multiple supply chain stakeholders, say the railroads.
Ukrainian police arrest six alleged members of Clop, a notorious ransomware gang behind multiple cyberattacks on transportation and logistics companies.
Reducing dwell times for equipment and at the terminals is one way the Class I railroads are seeking to relieve systemwide supply chain congestion, according to executives at recent investor conferences.
The American Chemistry Council wants the Surface Transportation Board to look into whether operational changes and cost cutting exacerbated the rail service issues that chemicals shippers have been having in the first half of this year.
An intermodal container terminal in Alabama targeted for “earmark” funding would extend the reach of the Port of Mobile.
CSX has appointed Kevin Boone as executive vice president of sales and marketing and has named Sean Pelkey as interim CFO. Mark Wallace, who was EVP of sales and marketing, will remain as an EVP as he undergoes cancer treatment.
FreightWaves recently chatted with Brian E. Gorton, Conrail’s new president and chief operating officer, to discuss his vision for Conrail and what opportunities lie ahead for the Northeast terminal railroad jointly owned by CSX and Norfolk Southern.
CSX needs more data in its market analysis, the Surface Transportation Board said. CSX plans to resubmit its application.
FreightWaves looks at five themes that ran throughout the earnings discussions of the Class I railroads.
The U.S. Department of Transportation wants the Surface Transportation Board to take up Amtrak’s request asking to establish passenger service between Mobile and New Orleans.
